8-KOther EventsExhibits & Filings

Archer-Daniels-Midland Co 8-K Report, Temporary Suspension of Trading Under Employee Benefit Plans (Aug 29, 2017)

Filed August 29, 2017For Securities:ADM

Summary

Archer-Daniels-Midland Company (ADM) filed an 8-K on August 29, 2017, to announce a temporary suspension of trading, commonly known as a "blackout period," impacting its employee benefit plans. This measure is necessitated by the transition of the ADM 401(k) and Employee Stock Ownership Plans to a new administrator. The blackout period is scheduled to commence on September 25, 2017, and is anticipated to conclude during the week of October 8, 2017. During this period, participants in the affected plans will be unable to conduct a range of transactions, including changes to contribution percentages, investment direction, loans, distributions, and ESOP dividend elections. The filing also notes that directors and executive officers were notified of these trading restrictions, as required by Sarbanes-Oxley Act and Regulation BTR, due to their connection with the employee benefit plans. Investors can obtain information on the exact start and end dates of the blackout by contacting ADM Investor Relations.

Key Highlights

  • 1ADM announced a temporary "blackout period" for its employee benefit plans, including 401(k) and ESOPs.
  • 2The blackout is due to the transition of these plans to a new administrator.
  • 3The blackout period is expected to begin on September 25, 2017, and end around the week of October 8, 2017.
  • 4During the blackout, plan participants cannot make investment changes, take loans, request distributions, or manage other aspects of their accounts.
  • 5Company directors and executive officers are also subject to trading restrictions on ADM common stock during this period, as per Sarbanes-Oxley and Regulation BTR.
  • 6Investors can contact ADM Investor Relations for precise start and end dates of the blackout period.

Frequently Asked Questions

The primary reason for this 8-K filing is to formally notify the public and relevant parties of a "blackout period" that will temporarily suspend trading and certain transactions within ADM's employee benefit plans, specifically the 401(k) and Employee Stock Ownership Plans. This is required due to the transition to a new plan administrator.

The blackout period directly affects participants in the ADM 401(k) and Employee Stock Ownership Plans. Additionally, ADM's directors and executive officers are subject to common stock trading restrictions during this time, as stipulated by Sarbanes-Oxley Act and Regulation BTR.

During the blackout period, plan participants will be unable to change contribution percentages, direct or diversify their investments, obtain or repay loans from the plans, submit withdrawal requests, or obtain distributions from their accounts. ESOP dividend elections will also be affected.

Stockholders and other interested parties can obtain information about the actual beginning and ending dates of the blackout period, free of charge, by contacting the Company's Investor Relations department at 312-634-8100.