Summary
This 8-K filing from The Coca-Cola Company (KO) addresses a temporary suspension of trading under its employee benefit plans, specifically the 401(k) Plan. This suspension, or "blackout period," is a result of an update to the plan's recordkeeping system. During this period, participants will be unable to diversify or direct investments, or initiate loans, withdrawals, or distributions from their accounts.
Key Highlights
- 1A temporary blackout period will affect participants in The Coca-Cola Company's 401(k) Plan.
- 2The blackout period is scheduled to begin on May 6, 2019, at 4:00 p.m. Eastern Time.
- 3The suspension is expected to conclude the week ending May 10, 2019.
- 4During this period, participants cannot diversify or direct investments, or obtain loans, withdrawals, or distributions.
- 5The company has notified its directors and executive officers about this blackout period.
- 6Company directors and executive officers are restricted from certain transactions involving Company common stock during the blackout period, as per Sarbanes-Oxley Act regulations.
- 7Information regarding the blackout period can be obtained by contacting Jennifer Manning, Associate General Counsel and Corporate Secretary.
Frequently Asked Questions
The main purpose of this 8-K filing is to inform investors and plan participants about a temporary suspension of trading (blackout period) under The Coca-Cola Company's 401(k) Plan due to a recordkeeping system update.
The blackout period is expected to begin on May 6, 2019, at 4:00 p.m. Eastern Time, and is anticipated to conclude during the week ending May 10, 2019.
During the blackout period, participants will not be able to make any changes to their investments within the 401(k) plan, including diversifying holdings, directing investments, or initiating loans, withdrawals, or distributions from their accounts.
Yes, in accordance with the Sarbanes-Oxley Act, company directors and executive officers are restricted from engaging in certain transactions involving Coca-Cola common stock, including exercising stock options, during the blackout period.