Summary
Marsh & McLennan Companies, Inc. (MRSH) filed a Form 8-K on February 28, 2005, to report a temporary suspension of trading, commonly known as a "blackout period," for its Stock Investment Plan (SIP). This blackout period is scheduled to begin on March 24, 2005, and is expected to conclude during the week of April 3, 2005. During this interval, participants in the SIP will be restricted from making transactions within their individual accounts, including directing investments, diversifying holdings, changing contribution elections, or initiating loans and withdrawals. The primary reason cited for this temporary suspension is the transition to a new recordkeeper and trustee for the SIP. While this impacts employee access to their retirement plan investments, it is a procedural event related to plan administration. The company has provided notice of this blackout period to its directors and executive officers and has made information available for security holders to inquire about the exact start and end dates of the blackout period.
Key Highlights
- 1Marsh & McLennan Companies, Inc. is implementing a temporary 'blackout period' for its Stock Investment Plan (SIP).
- 2The blackout period is scheduled to commence on March 24, 2005, and end around April 3, 2005.
- 3During this period, participants in the SIP will be unable to conduct transactions within their individual accounts.
- 4Prohibited transactions include investment direction, diversification, changes to contribution rates, and loan/withdrawal requests.
- 5The reason for the blackout is the change in the recordkeeper and trustee for the SIP.
- 6The company officially notified directors and executive officers of this upcoming restriction.
- 7Information regarding the precise start and end dates of the blackout can be obtained by contacting the company's Benefits & Compensation Counsel.