CSG SYSTEMS INTERNATIONAL INC — Director's Dealing 2012

Feb 28, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CSG SYSTEMS INTERNATIONAL INC (CSGS)
CIK: 0001005757
Period of Report: 2012-02-23

Reporting Person: Henderson Michael J (EVP, Sales & Marketing)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-02-23	Common Stock	A	21250	$16.40	Acquired	88077	Direct
2012-02-23	Common Stock	A	21250	$16.40	Acquired	109327	Direct

Footnotes

F1: These awards made on February 23, 2012, contain objective performance goals. For purposes of vesting, the shares are based on the Company's attainment of either: (i) a specified adjusted earnings per diluted
share target, or (ii) a specified Company stock price target, both of which are defined in the restricted stock agreement and which performance goals were previously approved by shareholders. The measurement
period for purposes of determining whether or not such shares will ultimately vest will be over a three-year period based principally on the Company's performance for its 2012, 2013, and 2014 fiscal years, and is
expected to be determined in the first quarter following each of the respective fiscal years.