Summary
Marriott International, Inc. (MAR) has filed an 8-K report to announce a temporary suspension of trading in its Marriott Retirement Savings Plan (RSP). This "blackout period" is necessary to facilitate the transition to a new plan recordkeeper. The suspension is expected to begin on September 25, 2024, and conclude by October 18, 2024. During this time, participants will be unable to make changes to their investments, contributions, loans, or distributions from their RSP accounts, including those holding Marriott's Common Stock. Furthermore, in compliance with Sarbanes-Oxley Act regulations, Marriott has also notified its directors and executive officers about these restrictions. They will be prohibited from buying, selling, acquiring, or transferring any Company Common Stock obtained through their roles during the blackout period, with limited exceptions. Investors should note that this filing primarily concerns internal plan administration and does not indicate any operational or financial performance issues with the company.
Key Highlights
- 1Marriott Retirement Savings Plan (RSP) to undergo a temporary "blackout period" from approximately September 25, 2024, to October 18, 2024.
- 2The blackout is to facilitate a transition to a new plan recordkeeper for the RSP.
- 3During the blackout, RSP participants cannot make investment changes, adjust contributions, or process loans/distributions.
- 4Restrictions apply to Marriott's Common Stock held within the RSP's Company Stock Fund.
- 5Marriott's directors and executive officers are prohibited from trading Company Common Stock during the blackout period, subject to exemptions.
- 6Notification of the blackout period and associated trading restrictions was provided to participants on August 19, 2024.
- 7Information on the actual start and end dates of the blackout can be obtained by contacting Marriott's Corporate Secretary.