8-KOther EventsExhibits & Filings

FISERV INC 8-K Report, Temporary Suspension of Trading Under Employee Benefit Plans (Feb 14, 2020)

Filed February 14, 2020For Securities:FISV

Summary

Fiserv, Inc. (FISV) has filed an 8-K detailing a temporary suspension of trading, or "blackout period," affecting its employee benefit plans. This measure is necessary to facilitate the merger of two of its 401(k) plans: the Prior Plan and the New Plan. During this period, participants will be unable to make loans, distributions, or investment changes within their plan accounts, specifically impacting investments in Fiserv's common stock. Investors should note the specific dates for this blackout: it is expected to commence on March 26, 2020, at 4:00 p.m. Eastern Time and conclude on April 8, 2020, at 8:00 a.m. Eastern Time. Additionally, company directors and executive officers are restricted from trading Fiserv equity securities during this blackout period, excluding exceptions under Regulation BTR. While this is an operational matter for employee plans, it's important for investors to be aware of potential temporary limitations on insider trading activities and the plan merger process.

Key Highlights

  • 1Fiserv, Inc. (FISV) announced a temporary "blackout period" for its 401(k) Savings Plans.
  • 2The blackout is required to facilitate the merger of the Fiserv Company Stock Funds from the Prior Plan into the New Plan.
  • 3Participants will be unable to take loans, distributions, or change investments during the blackout.
  • 4The blackout period is scheduled to begin on March 26, 2020, at 4:00 p.m. ET and end on April 8, 2020, at 8:00 a.m. ET.
  • 5Company directors and executive officers are restricted from trading Fiserv equity securities during this period, subject to Regulation BTR.
  • 6The company has designated Lynn S. McCreary, Chief Legal Officer and Secretary, to respond to inquiries regarding the blackout.

Frequently Asked Questions

The blackout period is necessary to allow for the technical merger of two of Fiserv's 401(k) plans, the Prior Plan and the New Plan. This process involves consolidating the assets and administration of these plans.

During the blackout period, participants in the affected 401(k) plans will not be able to access their accounts for loans or distributions. They will also be unable to change their investment elections, including any investments held in Fiserv's common stock.

The blackout period is expected to begin on March 26, 2020, at 4:00 p.m. Eastern Time and is scheduled to end on April 8, 2020, at 8:00 a.m. Eastern Time. This gives it a duration of approximately two weeks.

Yes, company directors and executive officers are notified that they will be restricted from purchasing, selling, or otherwise acquiring or transferring any equity securities of Fiserv during the blackout period, with certain exceptions permitted by Regulation BTR.