Summary
This 8-K filing by Amazon.com, Inc. (AMZN) announces a temporary suspension of trading, commonly known as a "Blackout Period," for participants in its 401(k) Plan. The suspension is necessary to facilitate the transition of the Plan's recordkeeping services from the current provider to Fidelity Investments. This Blackout Period is scheduled to commence on January 2, 2020, and is expected to conclude during the week of January 12, 2020. During this time, plan participants will be unable to make exchanges, change asset allocations, take loans, or request withdrawals or distributions. Additionally, Section 16 officers and directors are subject to related trading restrictions on company equity securities acquired in connection with their employment or service during this period, as mandated by Sarbanes-Oxley Act regulations.
Key Highlights
- 1Amazon.com, Inc. is transitioning its 401(k) Plan recordkeeping to Fidelity Investments.
- 2A "Blackout Period" will restrict plan participant trading activity.
- 3The Blackout Period is set to begin on January 2, 2020.
- 4The Blackout Period is expected to end the week of January 12, 2020.
- 5During the Blackout Period, participants cannot make exchanges, allocation changes, loans, or withdrawals.
- 6Section 16 officers and directors face trading restrictions on company equity securities during this period.