8-KOther Events

DOLLAR GENERAL CORP 8-K Report (Sep 17, 2003)

Filed September 17, 2003For Securities:DG

Summary

This 8-K filing from Dollar General Corporation, dated September 17, 2003, announces a temporary suspension of trading for directors and executive officers due to a change in the administrator for the company's 401(k) Savings and Retirement Plan. This change necessitates a "Blackout Period" for plan participants, meaning they will be temporarily unable to make changes to their investments, contributions, loans, or withdrawals. As a result of this plan-related restriction, federal securities laws (Regulation BTR) mandate a prohibition on all Dollar General directors and executive officers from engaging in any transactions involving Dollar General securities during this anticipated Blackout Period, expected to run from approximately mid-October to mid-November 2003. This trading restriction is separate from the company's regular securities trading calendar and applies to both direct and indirect transactions.

Key Highlights

  • 1Dollar General Corporation is filing an 8-K to report a temporary trading suspension for its directors and executive officers.
  • 2The suspension is triggered by a change in the administrator of the Dollar General Corporation 401(k) Savings and Retirement Plan.
  • 3Plan participants will be temporarily unable to make investment elections, contribution changes, loan requests, or withdrawal requests.
  • 4A 'Blackout Period' for directors and executive officers is expected to commence during the week of October 19, 2003, and end during the week of November 16, 2003.
  • 5During the Blackout Period, directors and executive officers are prohibited from buying, selling, gifting, or otherwise acquiring/transferring Dollar General securities.
  • 6This trading restriction is mandated by federal securities laws (Regulation BTR) and is independent of the company's standard trading calendar.
  • 7Violations of this trading prohibition could result in disgorgement of profits/losses avoided and potential SEC action.

Frequently Asked Questions

The filing is to inform the public and relevant parties about a temporary suspension of trading for Dollar General's directors and executive officers. This is a direct consequence of a change in the administrator for the company's 401(k) Savings and Retirement Plan, which triggers a 'Blackout Period' under federal regulations.

The trading suspension directly affects all of Dollar General's directors and executive officers. The anticipated 'Blackout Period' is expected to begin around the week of October 19, 2003, and conclude around the week of November 16, 2003. During this time, they are restricted from trading any Dollar General securities.

The inability of 401(k) plan participants to make changes to their accounts (investment elections, contributions, loans, withdrawals) is due to a change in the Plan administrator. This administrative transition requires a temporary halt in these functionalities for the plan.

Violating this trading restriction can have serious consequences. Individuals may be required to disgorge any profits made or losses avoided from such prohibited trades. Furthermore, violations could lead to enforcement actions by the Securities and Exchange Commission (SEC).