Form 8-K

UNITED STATES

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): February 4, 2005

 

 

COMPUTER PROGRAMS AND SYSTEMS, INC.

(Exact Name of Registrant as Specified in its Charter)

 

 

Delaware   000-49796   74-3032373
(State of Incorporation)   (Commission File Number)  

(IRS Employer

Identification No.)

 

6600 Wall Street, Mobile, Alabama 36695

(Address of principal executive offices, including zip code)

 

(251) 639-8100

(Registrant’s telephone number, including area code)

 

N/A

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

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

ITEM 8.01. OTHER EVENTS

 

Rule 10b5-1 Trading Plan

 

On February 4, 2005, 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. The Plan has a term of 12 months and expires on February 4, 2006. During the term of the Plan, the selected broker is authorized to sell up to 25,000 shares of Mr. Morrissey’s CPSI common stock at such times as the broker, in its sole discretion, may select in accordance with the terms of the Plan. Mr. Morrissey entered into this Plan in order to diversify his financial holdings. Under the Plan, Mr. Morrissey will have no control over the timing of any sales of his CPSI common stock.

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: February 11, 2005   By:  

/s/ M. Stephen Walker

        M. Stephen Walker
        Vice President - Finance and Chief Financial Officer