8-KOther EventsExhibits & Filings

CENTERPOINT ENERGY INC 8-K Report, Temporary Suspension of Trading Under Employee Benefit Plans (Aug 25, 2015)

Filed August 25, 2015For Securities:CNP

Summary

CenterPoint Energy, Inc. (CNP) filed a Form 8-K on August 25, 2015, to announce a temporary suspension of trading under its employee benefit plan, specifically the CenterPoint Energy Savings Plan. This "blackout period" is necessary due to the transition of the plan's recordkeeping services from Aon Hewitt to Voya Financial. During this period, participants in the plan will be unable to make changes to their accounts, including directing or diversifying investments, obtaining loans, or making distributions. Importantly, under Section 306 of the Sarbanes-Oxley Act, the company's directors and executive officers will be prohibited from buying or selling CNP common stock during the blackout period. This filing aims to provide transparency to stakeholders regarding these trading restrictions and their implications.

Key Highlights

  • 1CenterPoint Energy announced a temporary "blackout period" for its Savings Plan, starting September 23, 2015.
  • 2The blackout is triggered by a transition in recordkeeping services from Aon Hewitt to Voya Financial.
  • 3Plan participants will be restricted from accessing their accounts to direct investments, loans, or distributions during the blackout.
  • 4Company directors and executive officers are prohibited from trading CNP common stock during this period, as mandated by Sarbanes-Oxley Act (SOX) Section 306.
  • 5The blackout period is expected to end during the week of October 4, 2015, but may be extended.
  • 6Investors can obtain information about the blackout period by contacting Vincent Mercaldi at CenterPoint Energy.
  • 7The Notice regarding the blackout period is filed as an exhibit to this Form 8-K.

Frequently Asked Questions

The blackout period is a temporary measure necessary to facilitate the transition of the plan's recordkeeping services from the current provider, Aon Hewitt, to the new provider, Voya Financial. This transition requires a period where access to plan accounts is restricted to ensure a smooth and accurate data transfer.

During the blackout period, participants in the CenterPoint Energy Savings Plan will not be able to access their accounts to make investment decisions, diversify their holdings, or request loans or distributions. They will need to wait until the blackout period ends to resume these activities.

Yes, under Section 306 of the Sarbanes-Oxley Act of 2002, CenterPoint Energy's directors and executive officers are prohibited from directly or indirectly purchasing, selling, or otherwise acquiring or transferring any company stock during the blackout period.

The blackout period is scheduled to begin on September 23, 2015, and is expected to end during the calendar week of October 4, 2015. However, the company notes that the period may be extended if necessary.