8-KOther Events

ESSEX PROPERTY TRUST, INC. 8-K Report, Temporary Suspension of Trading Under Employee Benefit Plans (Oct 12, 2004)

Filed October 12, 2004For Securities:ESS

Summary

Essex Property Trust, Inc. (ESS) filed a Form 8-K on October 12, 2004, to announce a temporary suspension of trading for participants in its employee benefit plan, the Essex Portfolio, L.P. 401(k) Plan. This 'blackout period' is scheduled to commence on October 29, 2004, at 4:00 p.m. Eastern time and is expected to conclude by November 9, 2004. This notice is in compliance with Section 306 of the Sarbanes-Oxley Act of 2002 and Rule 104 of Regulation BTR. The company is providing this information to its directors and executive officers as required by law, ensuring transparency regarding the temporary inability of plan participants to trade their holdings. This event does not appear to be related to the company's operational performance or financial results, but rather a regulatory requirement concerning employee benefit plans.

Key Highlights

  • 1Essex Property Trust, Inc. is implementing a temporary trading suspension ('blackout period') for its 401(k) plan.
  • 2The blackout period for the Essex Portfolio, L.P. 401(k) Plan will begin on October 29, 2004, at 4:00 p.m. ET.
  • 3The trading suspension is expected to end by November 9, 2004.
  • 4This action is a requirement under the Sarbanes-Oxley Act of 2002 (Section 306) and Regulation BTR (Rule 104).
  • 5The notice was sent to directors and executive officers of Essex Property Trust, Inc.
  • 6The filing serves as an official notification of this temporary trading restriction on employee benefit plan assets.

Frequently Asked Questions

The primary purpose of this 8-K filing is to formally notify the public and relevant parties about a temporary trading suspension, commonly known as a 'blackout period,' affecting participants of the Essex Property Trust, Inc. employee 401(k) plan. This is a regulatory requirement.

The blackout period is scheduled to begin on October 29, 2004, at 4:00 p.m. Eastern time and is expected to conclude by November 9, 2004.

The suspension is being implemented to comply with Section 306 of the Sarbanes-Oxley Act of 2002 and Rule 104 of Regulation BTR. These regulations require advance notice to directors and executive officers when a blackout period affects employee benefit plans, typically to prevent insider trading during periods when the general participant's ability to trade is restricted.

No, this trading suspension specifically applies to transactions within the Essex Portfolio, L.P. 401(k) Plan. It does not restrict your ability to buy or sell shares of Essex Property Trust, Inc. (ESS) on a stock exchange through your brokerage account.