Summary
Analog Devices Inc. (ADI) filed an 8-K on December 19, 2011, to announce a temporary suspension of trading under its employee benefit plans, specifically The Analog Devices, Inc. Investment Partnership Plan. This suspension, or "blackout period," is necessitated by the conversion of the Analog Devices Stock Fund from a unitized stock fund to a real-time traded fund. During this period, scheduled to begin on January 23, 2012, and expected to end around January 26, 2012, participants will be unable to make exchanges, loans, or distributions involving plan assets invested in ADI's common stock. Furthermore, in accordance with Sarbanes-Oxley Act provisions, executive officers and directors are prohibited from buying or selling company stock acquired through their employment or service during this blackout period.
Key Highlights
- 1ADI is implementing a temporary trading suspension for its employee benefit plan (The Analog Devices, Inc. Investment Partnership Plan).
- 2The "blackout period" is due to the conversion of the Analog Devices Stock Fund to a real-time traded fund.
- 3Plan participants will be unable to conduct exchanges, loans, or distributions related to ADI stock held in the plan during the blackout.
- 4The blackout period is scheduled from January 23, 2012, to approximately January 26, 2012.
- 5Executive officers and directors are prohibited from trading ADI stock during this period due to Sarbanes-Oxley Act regulations.
- 6The notice was filed on December 19, 2011, and participants can direct inquiries to Fidelity Investments.