8-KOther EventsExhibits & Filings

TJX COMPANIES INC /DE/ 8-K Report, Temporary Suspension of Trading Under Employee Benefit Plans (Sep 1, 2011)

Filed September 1, 2011For Securities:TJX

Summary

This 8-K filing from TJX Companies Inc. (TJX) on September 1, 2011, primarily announces a temporary trading suspension under its employee benefit plans. The TJX General Savings/Profit Sharing Plan, and its Puerto Rican counterpart, will enter a "blackout period" from approximately September 26, 2011, to the week of October 9, 2011. This suspension is due to a change in recordkeepers and investment options for the plan. During this period, participants will be unable to access their account balances, make investment changes, or process loans and distributions. Furthermore, in compliance with regulations, TJX has notified its directors and executive officers about restrictions on trading company stock acquired through their employment during this blackout. Investors should note that this event primarily impacts employee access to their retirement funds and does not directly reflect on the company's operational or financial performance at this time.

Key Highlights

  • 1TJX Companies Inc. is implementing a temporary "blackout period" for its employee savings/profit sharing plans.
  • 2The blackout period is scheduled to begin on September 26, 2011, and is expected to conclude during the week of October 9, 2011.
  • 3The reason for the blackout is a change in recordkeepers and investment options within the employee benefit plans.
  • 4During the blackout, plan participants will be restricted from accessing account balances, directing investments, and processing loans or withdrawals.
  • 5TJX has notified its directors and executive officers of restrictions on trading company stock acquired through their employment during the blackout period, as required by law.
  • 6This filing is an event-driven disclosure concerning employee benefit plan administration and not a financial or operational update.

Frequently Asked Questions

A 'blackout period' in this context refers to a temporary restriction on participants' ability to access and manage their retirement savings plan accounts. This is typically implemented when there are significant administrative changes to the plan, such as changes in recordkeepers or investment options.

No, this blackout period specifically affects participants in the TJX General Savings/Profit Sharing Plan and its Puerto Rican equivalent. It prevents them from trading within their retirement accounts. It does not restrict the ability of the general public or other shareholders to buy or sell TJX stock on the stock exchange.

Directors and executive officers are subject to trading restrictions because they may possess or receive company stock as part of their compensation or employment. Regulations like Sarbanes-Oxley Act of 2002 require that they be notified and restricted from trading such company stock during periods when most other plan participants cannot access their accounts, to prevent potential insider trading advantages.

The filing states that company stockholders or other interested persons can obtain information about the actual dates of the Plan Blackout, without charge, by contacting the TJX Treasury Department at 508-390-1000, 770 Cochituate Road, Framingham, MA 01701.