Edgar Filing: GLOBAL PAYMENTS INC

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

CANADIAN IMPERIAL BANK OF COMMERCE /CAN/

2. Issuer Name and Ticker or Trading Symbol
GLOBAL PAYMENTS INC [GPN]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	__X__ 10% Owner
_____ Officer (give title below)	_____ Other (specify below)

(Last)

(First)

(Middle)

COMMERCE CT

3. Date of Earliest Transaction (Month/Day/Year)
08/24/2005

(Street)

TORONTO, A6 A6 M5L 1A2

4. If Amendment, Date Original Filed(Month/Day/Year)
05/13/2004

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, no par value	08/24/2005		X		1,200,000	D	$ 44.55	0	I	See footnote ⁽¹⁾
Common Stock, no par value	08/24/2005		X		1,200,000	D	$ 44.39	0	I	See footnote ⁽¹⁾
Common Stock, no par value	08/24/2005		X		1,200,000	D	$ 44.27	0	I	See footnote ⁽¹⁾
Common Stock, no par value	08/24/2005		X		1,200,000	D	$ 44.18	0	I	See footnote ⁽¹⁾
Common Stock, no par value	08/24/2005		X		1,200,000	D	$ 44.1	0	I	See footnote ⁽¹⁾

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.		SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Call option (obligation to sell)

$ 44.55

08/24/2005

J⁽²⁾

08/24/2005

Common Stock

1,200,000

$ 0

See footnote ⁽¹⁾

Call option (obligation to sell)

$ 44.55

08/24/2005

Common Stock

1,200,000

$ 0

See footnote ⁽¹⁾

Call option (obligation to sell)

$ 44.39

08/24/2005

J⁽²⁾

08/24/2005

Common Stock

1,200,000

$ 0

See footnote ⁽¹⁾

Call option (obligation to sell)

$ 44.39

08/24/2005

Common Stock

1,200,000

$ 0

See footnote ⁽¹⁾

Call option (obligation to sell)

$ 44.27

08/24/2005

J⁽²⁾

08/24/2005

Common Stock

1,200,000

$ 0

See footnote ⁽¹⁾

Call option (obligation to sell)

$ 44.27

08/24/2005

Common Stock

1,200,000

$ 0

See footnote ⁽¹⁾

Call option (obligation to sell)

$ 44.18

08/24/2005

J⁽²⁾

08/24/2005

Common Stock

1,200,000

$ 0

See footnote ⁽¹⁾

Call option (obligation to sell)

$ 44.18

08/24/2005

Common Stock

1,200,000

$ 0

See footnote ⁽¹⁾

Call option (obligation to sell)

$ 44.1

08/24/2005

J⁽²⁾

08/24/2005

Common Stock

1,200,000

$ 0

See footnote ⁽¹⁾

Call option (obligation to sell)

$ 44.1

08/24/2005

Common Stock

1,200,000

$ 0

See footnote ⁽¹⁾

Put option (right to sell)

$ 41.59

08/24/2005

E⁽²⁾

08/24/2005

Common Stock

1,200,000

$ 0

See footnote ⁽¹⁾

Put option (right to sell)

$ 42.06

08/24/2005

E⁽²⁾

08/24/2005

Common Stock

1,200,000

$ 0

See footnote ⁽¹⁾

Put option (right to sell)

$ 42.55

08/24/2005

E⁽²⁾

08/24/2005

Common Stock

1,200,000

$ 0

See footnote ⁽¹⁾

Put option (right to sell)

$ 43.05

08/24/2005

E⁽²⁾

08/24/2005

Common Stock

1,200,000

$ 0

See footnote ⁽¹⁾

Put option (right to sell)

$ 43.54

08/24/2005

E⁽²⁾

08/24/2005

Common Stock

1,200,000

$ 0

See footnote ⁽¹⁾

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
CANADIAN IMPERIAL BANK OF COMMERCE /CAN/ COMMERCE CT TORONTO, A6 A6 M5L 1A2		X

Signatures

Antonio Molestina		08/24/2005
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The shares were directly owned by CIBC Investments Limited ("CIBCIL"), a wholly-owned subsidiary of Canadian Imperial Bank of Commerce.
(2)	On May 11, 2004, CIBCIL entered into a "zero-cost collar" arrangement pursuant to which the options could settle in multiple tranches over five quarters at the option of CIBCIL, by delivery of shares of common stock, by cash payments, or by a combination of the two methods. Each option was comprised of 20 components, which were to expire and were to be exercisable over a 20 consecutive trading day period beginning on March 28, 2006. Each component of the option was attributable to 60,000 shares. On August 24, 2005, the terms of the options were amended to revise the call option strike prices and to reset the expiration dates of all the options to August 24, 2005.

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