8-KOther EventsExhibits & Filings

FISERV INC 8-K Report, Temporary Suspension of Trading Under Employee Benefit Plans (Jun 19, 2020)

Filed June 19, 2020For Securities:FISV

Summary

This 8-K filing from Fiserv, Inc. (FISV) announces a temporary trading suspension, commonly known as a "blackout period," affecting participants in its 401(k) Savings Plans. The blackout is necessary to facilitate the merger of two existing retirement plans into a single, new plan. During this period, participants will be unable to make loans, distributions, or changes to their investments, specifically including those held in Fiserv's common stock funds. This restriction is significant for employees holding Fiserv stock within their 401(k) accounts, as it prevents any transactions related to these holdings for the duration of the blackout. Furthermore, the company has also notified its directors and executive officers of similar restrictions on trading Fiserv equity securities during this period, with exceptions permitted by Regulation BTR, to ensure compliance and prevent potential insider trading concerns.

Key Highlights

  • 1Fiserv is implementing a blackout period for its 401(k) Savings Plans.
  • 2The blackout is to facilitate the merger of the Original Plan into the New Plan.
  • 3Participants will be unable to make loans, distributions, or investment changes during the blackout.
  • 4The blackout specifically impacts investments in Fiserv Company Stock Funds.
  • 5The blackout period is scheduled to begin on July 30, 2020, and end on August 12, 2020.
  • 6Directors and executive officers are also subject to restrictions on trading company equity securities during this period.

Frequently Asked Questions

A blackout period is a temporary restriction placed on the ability of participants in an employee benefit plan to engage in transactions related to their plan accounts. In this case, Fiserv's blackout period prevents participants from making loans, distributions, or changing their investments, particularly in Fiserv's common stock funds, due to a plan merger.

The blackout period is required to facilitate the administrative process of merging the 'Original Plan' into the 'New Plan,' creating a single, consolidated 401(k) Savings Plan for employees.

The blackout period is expected to commence on July 30, 2020, at 4:00 p.m. Eastern Time and conclude on August 12, 2020, at 8:00 a.m. Eastern Time.

While directors and executive officers are subject to restrictions on buying, selling, or transferring company equity securities during the blackout period, exceptions may apply as permitted by Regulation BTR. They were separately notified of these restrictions.