Summary
McDonald's Corporation (MCD) has filed an 8-K report to notify investors of a temporary trading suspension under its employee benefit plans, specifically the McDonald's 401(k) Plan. This "blackout period" is necessitated by a change in investment alternatives within the plan. During this time, participants will be unable to make transfers, diversify investments, or process loans, withdrawals, and distributions from their accounts. The blackout period is scheduled to commence at 4:00 p.m. Eastern Time on January 13, 2017, and is anticipated to conclude by January 19, 2017. This restriction applies to all assets held within the plan, including company shares. McDonald's has issued a notice to its directors and executive officers regarding these trading restrictions, in compliance with Sarbanes-Oxley Act and Regulation BTR.
Key Highlights
- 1McDonald's 401(k) Plan will enter a temporary "blackout period" from January 13, 2017, to January 19, 2017.
- 2The blackout period is due to changes in investment alternatives within the 401(k) Plan.
- 3During this period, participants cannot transfer, diversify, obtain loans, withdrawals, or distributions from their 401(k) accounts.
- 4The restrictions apply to all plan assets, including McDonald's Corporation common stock held within the plan.
- 5Company directors and executive officers are subject to trading restrictions on McDonald's stock during the blackout period, as per Sarbanes-Oxley Act and Regulation BTR.
- 6Investors can obtain information on the blackout period dates by contacting McDonald's Corporate Legal Department.
- 7Exhibit 99 of the filing contains the notice provided to directors and executive officers.