8-KOther EventsExhibits & Filings

ABBOTT LABORATORIES 8-K Report, Temporary Suspension of Trading Under Employee Benefit Plans (Dec 4, 2015)

Filed December 4, 2015For Securities:ABT

Summary

Abbott Laboratories (ABT) filed an 8-K on December 3, 2015, to announce a temporary suspension of trading under its employee benefit plans, often referred to as a "blackout period." This suspension is necessary due to significant administrative changes within the plans, including the change of the recordkeeper, the U.S. Plan's trustee, and the P.R. Plan's custodian. The blackout period is scheduled to begin on January 7, 2016, and is expected to conclude in the week of January 24, 2016. During this period, participants in the Abbott Laboratories Stock Retirement Plan (U.S. and Puerto Rico) will be unable to perform transactions such as changing contribution rates, directing investments (including Abbott common stock), or initiating loans, withdrawals, or distributions. The company has also notified its directors and executive officers of this blackout period and the associated trading restrictions on Abbott common stock, as required by Sarbanes-Oxley Act regulations.

Key Highlights

  • 1Abbott Laboratories is implementing a blackout period for its employee benefit plans, impacting participants' ability to trade assets within their accounts.
  • 2The blackout period is scheduled to commence on January 7, 2016, and is expected to end around January 24, 2016.
  • 3The suspension is due to administrative changes, including a change in recordkeeper and trustees/custodians for the U.S. and Puerto Rico plans.
  • 4During the blackout, plan participants cannot make investment changes, contributions, loans, or withdrawals.
  • 5Abbott has also notified its directors and executive officers about trading restrictions on company stock during this period.
  • 6This notification is in compliance with Section 306 of the Sarbanes-Oxley Act of 2002.

Frequently Asked Questions

A blackout period is a temporary suspension during which plan participants cannot make transactions involving the assets held in their plan accounts. This is typically implemented during significant administrative changes to the plan.

The blackout period is expected to begin on January 7, 2016, at 2 p.m. CST and is anticipated to end during the week of January 24, 2016.

Abbott is implementing the blackout period to facilitate administrative changes within its employee benefit plans. These changes include switching the recordkeeper for both plans, changing the trustee for the U.S. Plan, and changing the custodian for the Puerto Rico Plan.

Yes, participants in the Abbott Laboratories Stock Retirement Plan (both U.S. and Puerto Rico) will be unable to engage in transactions such as changing contribution rates, directing or diversifying investments (including investments in Abbott common shares), or obtaining a plan loan, withdrawal, or distribution during the blackout period.