8-KOther EventsExhibits & Filings

DTE ENERGY CO 8-K Report, Temporary Suspension of Trading Under Employee Benefit Plans (Sep 22, 2010)

Filed September 22, 2010For Securities:DTEDTKDTBDTGDTW

Summary

DTE Energy Company (DTE) filed an 8-K on September 22, 2010, to announce a temporary suspension of trading, commonly known as a 'blackout period,' affecting its employee savings plans. This suspension is necessitated by a change in the recordkeeper for several of the company's savings and stock ownership plans, moving from Fidelity Investments to J.P. Morgan Retirement Plan Services, effective November 9, 2010. This blackout period is critical for investors to be aware of as it will temporarily prevent participants and beneficiaries of these plans from directing or diversifying investments within their accounts, as well as from obtaining distributions. The trading restriction is scheduled to begin at 4 p.m. ET on November 2, 2010, and is expected to conclude during the week of November 14, 2010. Importantly, the company also provided notice to its directors and executive officers, prohibiting them from buying or selling DTE Energy stock during this blackout period, in compliance with Sarbanes-Oxley Act regulations.

Key Highlights

  • 1DTE Energy is changing the recordkeeper for multiple employee savings plans from Fidelity Investments to J.P. Morgan Retirement Plan Services, effective November 9, 2010.
  • 2A temporary trading blackout period for these savings plans will be implemented.
  • 3The blackout period will commence on November 2, 2010, at 4 p.m. ET and is expected to end the week of November 14, 2010.
  • 4During the blackout period, participants cannot direct or diversify investments in their individual accounts or make distributions.
  • 5DTE Energy notified its directors and executive officers about the blackout period.
  • 6Directors and officers are prohibited from trading DTE Energy common stock (including derivative securities) acquired in connection with their service during the blackout period.
  • 7This notice to directors and officers complies with Section 306 of the Sarbanes-Oxley Act of 2002.

Frequently Asked Questions

The filing is to inform stakeholders about a temporary suspension of trading, or 'blackout period,' for DTE Energy's employee savings plans. This is due to a change in the recordkeeper for these plans from Fidelity Investments to J.P. Morgan Retirement Plan Services.

The blackout period will begin at 4 p.m. Eastern Time on November 2, 2010, and is expected to end during the week of November 14, 2010.

During the blackout period, employees who are participants or beneficiaries of the affected savings plans will be unable to direct or diversify their investments, nor will they be able to obtain distributions from their accounts.

Yes, DTE Energy provided notice to its directors and executive officers that they are prohibited from buying or selling shares of the company's common stock (including derivative securities) that they acquired in connection with their service during the blackout period. This is a regulatory requirement under the Sarbanes-Oxley Act.