Summary
This Form 8-K filing by The TJX Companies, Inc. on November 18, 2015, primarily announces a temporary suspension of trading, commonly known as a 'blackout period,' for participants in its employee savings and profit-sharing plans. This suspension is necessitated by a change in the plan's recordkeepers and investment options. The blackout period is scheduled to commence on December 24, 2015, and is expected to conclude during the week of January 11, 2016. During this time, plan participants will be unable to conduct various transactions, including enrolling, changing investment allocations, adjusting contribution amounts, requesting loans, or initiating withdrawals. Additionally, the company has notified its directors and executive officers of restrictions on trading company stock acquired through their employment during this blackout period, in compliance with Sarbanes-Oxley Act and SEC regulations.
Key Highlights
- 1TJX Companies announced a temporary blackout period for its employee savings and profit-sharing plans.
- 2The blackout is due to a change in recordkeepers and investment options for the plans.
- 3The blackout period is expected to begin on December 24, 2015, and end during the week of January 11, 2016.
- 4During the blackout, plan participants cannot make transactions such as enrollments, investment changes, withdrawals, or loan requests.
- 5Directors and executive officers are restricted from buying or selling TJX stock acquired through their employment during the blackout period.
- 6This action is in compliance with ERISA, Sarbanes-Oxley Act, and SEC regulations.