Summary
Becton, Dickinson and Company (BDX) has announced a temporary suspension of trading within its 401(k) Plan, specifically affecting the BD Common Stock Fund. This "blackout period" is scheduled to commence on March 31, 2022, and conclude during the week of April 3, 2022. The primary reason for this suspension is to facilitate the upcoming spin-off of Embecta Corp. ("Embecta"), which is anticipated to occur on April 1, 2022. The blackout period is designed to manage the transfer of participants to a new 401(k) plan sponsored by Embecta and to incorporate Embecta Common Stock Fund interests into the existing BDX plan. During this period, participants will be unable to conduct any transactions related to the BD Common Stock Fund or the Embecta Common Stock Fund, including exchanges, loans, partial withdrawals, or distributions if their account balances are invested in these specific funds.
Key Highlights
- 1BDX 401(k) Plan to enter a blackout period affecting the BD Common Stock Fund.
- 2Blackout period is scheduled from March 31, 2022, to the week of April 3, 2022.
- 3The reason for the blackout is to facilitate the spin-off of Embecta Corp. on April 1, 2022.
- 4The blackout will enable the transfer of participants to Embecta's new 401(k) plan.
- 5During the blackout, participants cannot trade, loan, withdraw, or receive distributions from their holdings in the BD Common Stock Fund or Embecta Common Stock Fund.
- 6Contact Fidelity at 1-866-715-2068 for inquiries about the blackout period and its dates.