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Jack Henry’s top execs trade 137K shares

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Jack Henry & Associates’ (Nasdaq: JKHY) top officers recently bought or sold nearly 137,000 company shares, according to U.S. Securities and Exchange Commission filings.

Executive Chairman Jack Prim led the transactions, followed by CEO David Foss, Chief Financial Officer Kevin Williams, Chief Technology Officer Mark Forbis and General Counsel Craig Morgan. The trades completed Sept. 10 were disclosed to the SEC on Sept. 12.

Prim said via email the trades were related to long-term incentive compensation. The LTI is based on shareholder return over a three-year period compared with a peer group of around 20 companies that are similar in size and/or in the same industry, he said.

“The executive officers, especially if they have been with JHA for a long time, as we all have, have a significant amount of their net worth tied up in JHA stock,” Prim said. “The LTI grants are taxed as ordinary income, so typically we sell enough shares to cover the tax bite and retain the rest.”

The transactions, according to SEC filings, were at a set price of $101.97 a share and comprised:
    •    Prim purchasing 53,450 shares for $5.45 million, and selling 25,630 shares, equating to $2.6 million;
    •    Foss acquiring 18,806 shares for an investment of $1.9 million and disposing of 7,866 shares, totaling $812,293;
    •    Williams buying 14,847 shares, equating to $1.5 million, and selling 7,120 shares to net $726,026;
    •    Forbis buying up 6,036 shares for an investment of $615,491, and selling 2,985 shares for $295,203; and
    •    Morgan disposing of 125 shares worth $12,746.

Monett-based financial industry software firm Jack Henry recently posted fiscal 2017 revenue of $1.4 billion, a 6 percent increase, and net income of $245.8 million, a 1.2 percent dip.

JKHY shares were trading at $101.39 as of 8:41 a.m., compared with a 52-week range of $79 to $109.67.

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