8-KOther EventsExhibits & Filings

APPLIED MATERIALS INC /DE 8-K Report, Temporary Suspension of Trading Under Employee Benefit Plans (Apr 1, 2005)

Filed April 1, 2005For Securities:AMAT

Summary

Applied Materials, Inc. (AMAT) filed an 8-K report on April 1, 2005, to inform investors about a temporary suspension of trading for participants in its Employee Savings and Retirement Plan (401(k) Plan). This "blackout period" is scheduled to begin at the close of market on April 18, 2005, and is expected to end during the week of April 24, 2005. The primary reason for this suspension is to facilitate the conversion of the Applied Materials, Inc. Common Stock Fund within the 401(k) Plan to a real-time trading system. During this blackout period, participants will be restricted from making transactions involving the Applied Stock Fund, including exchanges, changes to future contributions, or requests for loans and distributions. Additionally, in compliance with Sarbanes-Oxley Act regulations, AMAT has notified its directors and executive officers of special trading restrictions that will generally prevent them from buying or selling company stock during this 401(k) blackout period, with certain exceptions. Investors should be aware that this is a technical, administrative event with no direct impact on the company's operational performance, but it does affect the liquidity of company stock held within the 401(k) plan.

Key Highlights

  • 1A 401(k) "blackout period" will commence on April 18, 2005, affecting the Applied Materials, Inc. Employee Savings and Retirement Plan.
  • 2The blackout period is expected to conclude during the week of April 24, 2005.
  • 3The purpose of the blackout is to enable the conversion of the Applied Stock Fund to a real-time trading system.
  • 4During the blackout, participants cannot trade their holdings in the Applied Stock Fund, adjust contributions, or initiate loans/distributions from it.
  • 5Directors and executive officers are subject to temporary trading restrictions on company stock during the blackout period, as per Sarbanes-Oxley Act requirements.
  • 6Information on the exact start and end dates of the blackout can be obtained by contacting a designated company representative.

Frequently Asked Questions

The blackout period is necessary to allow the plan's trustee/recordkeeper to convert the Applied Materials, Inc. Common Stock Fund within the 401(k) Plan to a real-time trading system. This technical update requires a temporary halt in transactions related to this specific fund.

During the blackout period, participants are unable to exchange their 401(k) account balances into or out of the Applied Stock Fund, change their future contributions that are directed to the Applied Stock Fund, or request new loans or distributions from the Applied Stock Fund.

Yes, in accordance with the Sarbanes-Oxley Act of 2002, Applied Materials has notified its directors and executive officers that they are subject to special trading restrictions. These restrictions generally prevent them from buying or selling shares of Applied common stock during the 401(k) blackout period, subject to certain exceptions.

Participants can contact Fidelity Investments at 1-800-835-5098 for the specific ending date. For security holders or other interested persons, information about the actual beginning and ending dates can be obtained without charge by contacting Charmaine Mesina, Managing Director, Corporate Legal Services, in writing, at the address provided in the filing.