01—Abstract
Summary
Summary of the 8-K filed July 26, 2024. Cited figures are marked; the original filing is the authoritative source.
Alliant Energy Corporation filed this Form 8-K on July 26, 2024 under Item 5.04 to disclose a temporary suspension of trading under its employee benefit plan.
The Company's 401(k) Savings Plan will enter a blackout period beginning August 30, 2024 at 3:00 p.m. (Central Time) and ending during the calendar week beginning September 22, 2024. During this window, Plan participants will be unable to change contribution rates or enroll, change how current or future contributions are invested, request investment exchanges, or request or obtain loans or distributions.
The Company states the blackout is necessary for administrative reasons to implement a change in service provider, with recordkeeping and trustee services being transferred to Fidelity Workplace Services, LLC. The blackout also restricts the Company's directors and executive officers from trading Alliant Energy common stock, including options and derivatives, whether or not the shares are held in the Plan. The Company notes this restriction arises under the SEC's Regulation BTR, which is authorized by the Sarbanes-Oxley Act of 2002, and applies in addition to the Company's Trading in Company Securities Compliance Memo.
The Company received notice of the impending blackout from the Plan administrator on July 22, 2024, as required by ERISA Section 101(i)(2)(E), and sent notice to directors and executive officers on July 26, 2024. The filing is administrative in nature and does not report any financial results, operating developments, or changes to the Company's business.
Investors wanting the actual blackout dates or further information may contact Corporate Secretary Omar N. Chaudhary at 608-458-3186.
02—Key points
Key Highlights
- Plan blackout period scheduled to begin August 30, 2024 at 3:00 p.m. (Central Time) and end during the week beginning September 22, 2024
- Blackout is driven by a change in service provider for the 401(k) Savings Plan, with recordkeeping and trustee services moving to Fidelity Workplace Services, LLC
- Plan participants cannot change contribution rates, enroll, reallocate contributions, make exchanges between investment options, or take loans or distributions during the blackout
- Directors and executive officers are barred from trading Alliant Energy common stock, options, and derivatives during the blackout, whether or not shares are held in the Plan, under SEC Regulation BTR
- The Company received notice of the blackout from the Plan administrator on July 22, 2024, as required by ERISA Section 101(i)(2)(E)
- Filing is administrative and contains no financial results or operating metrics
03—Questions
Frequently Asked Questions
Why is Alliant Energy's 401(k) plan entering a blackout period?
The Company states the blackout is necessary for administrative reasons to implement a change in service provider. Recordkeeping and trustee services for the Plan are being transferred to Fidelity Workplace Services, LLC.
When does the blackout period start and end?
It begins at 3:00 p.m. Central Time on August 30, 2024, and ends during the calendar week beginning September 22, 2024. The filing states that security holders can obtain the exact dates by contacting Corporate Secretary Omar N. Chaudhary at 608-458-3186.
Does the blackout affect all shareholders or only Plan participants?
The Plan restrictions apply to Plan participants. Separately, the trading restriction applies to the Company's directors and executive officers, who cannot trade Alliant Energy common stock, options, or derivatives during the blackout, whether or not the shares are held in the Plan. The filing does not describe any restriction on ordinary shareholders.
What is the legal basis for the trading restriction on directors and officers?
The Company cites the SEC's Regulation BTR, adopted under the Sarbanes-Oxley Act of 2002, which prohibits directors and executive officers from directly or indirectly acquiring, selling, or transferring company equity securities during a plan blackout period. The restriction applies in addition to the Company's Trading in Company Securities Compliance Memo.
04—Continue