8-KOther EventsExhibits & Filings

EXELON CORP 8-K Report, Temporary Suspension of Trading Under Employee Benefit Plans (Feb 18, 2009)

Filed February 18, 2009For Securities:EXC

Summary

Exelon Corporation (EXC) filed an 8-K on February 18, 2009, to report a temporary suspension of trading under its employee savings plan (401(k)). This 'blackout period' is necessitated by a transition in the plan administrator. The company provided notice of this suspension to its directors and executive officers on February 18, 2009, as required by the Employment Retirement Income Security Act of 1974 (ERISA).

Key Highlights

  • 1Exelon is implementing a temporary suspension of trading in its 401(k) employee savings plan.
  • 2The reason for the trading suspension is a transition of the plan administrator.
  • 3The suspension constitutes a 'blackout period' as defined by ERISA.
  • 4Exelon provided formal notice of the blackout period to its directors and executive officers on February 18, 2009.
  • 5The notice attached to the filing (Exhibit 99.1) details the blackout period.

Frequently Asked Questions

A blackout period is a temporary suspension of the ability for participants in an employee retirement plan, like Exelon's 401(k), to make certain transactions such as directing investments, loaning funds, or receiving distributions. Exelon is initiating this blackout period due to a transition in the administrator of its 401(k) plan.

The primary impact is on participants in Exelon's 401(k) employee savings plan, who will be unable to trade or make changes to their investments during the suspension. Exelon also formally notified its directors and executive officers of this period.

The filing does not specify the exact start and end dates of the blackout period, only that notice was provided on February 11, 2009, and to directors/executives on February 18, 2009. Investors and employees would need to refer to the detailed notice (Exhibit 99.1) for precise dates.

This filing specifically addresses a temporary suspension within an employee benefit plan. It does not directly indicate any immediate adverse impact on Exelon's overall financial performance or its publicly traded stock. The suspension is an administrative necessity for the 401(k) plan.