Form 8-K

 

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

 

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of report (Date of earliest event reported): September 18, 2003

 

 

COMPUTER PROGRAMS AND SYSTEMS, INC.

(Exact Name of Registrant as Specified in Charter)

 

Delaware   000-49796   74-3032373

(State or Other Jurisdiction

of Incorporation)

  

(Commission File

Number)

  

(IRS Employer

Identification No.)

6600 Wall Street,

Mobile, Alabama

(Address of Principal Executive Offices)

      

36695

(Zip Code)

 

(251) 639-8100

(Registrant’s telephone number, including area code)

 

N/A

(Former Name or Former Address, if Changed Since Last Report)

 

ITEM 5. OTHER EVENTS

 

Rule 10b5-1 Trading Plan

 

On September 18, 2003, John Morrissey, Chairman of the Board of Directors of Computer Programs and Systems, Inc. (“CPSI”), entered into a written trading plan (the “Plan”) relating to future sales of a part of his shares of CPSI common stock. The Plan is intended to comply with Rule 10b5-1 promulgated by the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934, as amended. Mr. Morrissey entered into the Plan in order to diversify his financial holdings. The Plan will also enable him to sell shares over a period of time without significantly affecting the market for CPSI common stock. Under the Plan, Mr. Morrissey will have no control over the timing of any sales of his CPSI common stock.

 

The Plan will expire on April 30, 2004. Prior to expiration of the Plan, the selected broker is authorized to sell up to an aggregate of 25,000 shares of Mr. Morrissey’s CPSI common stock at such times as the broker, in its sole discretion, may select, but only when the per share price of CPSI common stock is equal to or greater than $22.50.

SIGNATURES

 

Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

       

COMPUTER PROGRAMS AND

SYSTEMS, INC.

Date: September 24, 2003           By:  

    /s/ David A. Dye                                    

               

David A. Dye

President and Chief Executive Officer