Summary
This 8-K filing from Lowe's Companies, Inc. (LOW) primarily reports on a temporary suspension of trading related to the company's 401(k) Plan. This suspension, known as a 'Blackout Period,' is scheduled to occur from September 24, 2015, through October 1, 2015. During this time, participants and beneficiaries of the 401(k) Plan will be unable to direct or diversify their investments within their individual accounts, nor will they be able to obtain distributions from the Plan. Furthermore, the filing indicates that Lowe's has notified its directors and executive officers about this Blackout Period. As a result, these individuals are prohibited from buying or selling company stock (including derivative securities) that they acquired in connection with their service to the company during the Blackout Period. This restriction is in accordance with Sarbanes-Oxley Act and Regulation BTR requirements.
Key Highlights
- 1Lowe's 401(k) Plan will enter a temporary trading suspension ('Blackout Period') from September 24, 2015, to October 1, 2015.
- 2During the Blackout Period, 401(k) Plan participants cannot make investment changes or request distributions from their accounts.
- 3The company has formally notified its directors and executive officers of this upcoming Blackout Period.
- 4Directors and executive officers are prohibited from trading Lowe's stock (including derivatives) during the Blackout Period.
- 5This trading restriction for insiders applies to company stock acquired through their service.
- 6The notice for the Blackout Period was sent on August 14, 2015, and the company's notice to insiders was dated August 20, 2015.
- 7Contact information is provided for obtaining further details about the Blackout Period.