A system (10) and method for forming glass sheets includes a forming station (14) having lower and upper molds (28, 30) between which glass sheets G are cyclically received from a furnace (12) on a vacuum transfer platen (34), formed between the lower and upper molds (28, 30), and transferred to a delivery mold (42) for delivery such as to a quench station (16). The vacuum transfer platen (34) and the delivery mold (42) are moved at different elevations and operated by a controller (18) for movement into the forming station (14) in respective underlapping and overlapping relationships to each other so each glass sheet forming cycle can begin within the forming station before the prior forming cycle is completed in a time overlapping manner that reduces the cycle time.