Summary
ONEOK, Inc. (OKE) filed an 8-K on January 22, 2004, to report a temporary suspension of trading under its employee benefit plan, specifically "The Thrift Plan for Employees of ONEOK, Inc. and Subsidiaries." This suspension, often referred to as a "blackout period," is a routine event occurring in connection with the quarterly dividend payment on the company's common stock. The blackout period is scheduled to begin at 12:00 p.m. on January 27, 2004, and conclude at 12:00 p.m. on January 30, 2004. During this short timeframe, participants in the employee benefit plan will be unable to make any transactions involving plan assets, including buying or selling shares of ONEOK common stock, changing investment options, initiating distributions or loans, or adjusting payroll deferral percentages. This restriction applies to all shares of ONEOK common stock held within the plan. The company has provided contact information for inquiries regarding this blackout period.
Key Highlights
- 1ONEOK, Inc. is implementing a temporary trading suspension (blackout period) for its employee thrift plan.
- 2The blackout period is directly related to the company's quarterly common stock dividend payment.
- 3The suspension will commence on January 27, 2004, at 12:00 p.m. and end on January 30, 2004, at 12:00 p.m.
- 4Participants in the plan will be unable to conduct transactions involving plan assets during this period.
- 5This includes restrictions on buying/selling company stock, changing investments, and initiating loans or distributions.
- 6ONEOK has provided a designated contact person for inquiries about the blackout period.
- 7The company received notice of the blackout period from the plan administrator on January 22, 2004.