UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report: June 17, 2004
PAYMENT DATA SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
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Nevada 0-30152 98-0190072
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(State or other jurisdiction of (Commission (IRS Employer
incorporation) File Number) Identification No.)
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12500 San Pedro, Suite 120
San Antonio, TX 78216
(Address of principal executive offices) (Zip Code)
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Registrant's telephone number, including area code (210) 249-4100
Not Applicable
(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS
In accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, as
amended, the Board of Directors of Payment Data Systems, Inc. (the "Company")
approved guidelines that permit its officers and other insiders to enter into
10b5-1 trading plans or arrangements for systematic trading of the Company's
securities. The Company has been advised that Louis A. Hoch, President and Chief
Operating Officer, has entered into a trading plan that provides for sales of
the Company's common stock subject to certain sales price limits. The Company
anticipates that, as permitted by Rule 10b5-1 and the foregoing guidelines,
other officers and insiders may establish similar trading plans in the future.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PAYMENT DATA SYSTEMS, INC.
Date: June 17, 2004 By: /s/ Michael R. Long
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Michael R. Long
Chief Executive Officer and
Chief Financial Officer