What is the primary reason for the 401(k) plan blackout period?

The blackout period is being implemented to allow for a smooth transition of the 401(k) plan to a new third-party administrator. This is a common procedure during such transitions to ensure data integrity and operational continuity.

What specific actions will be restricted for 401(k) plan participants during the blackout period?

During the blackout, participants will be unable to make changes to their contribution rates, adjust investment allocations, request or repay loans, or initiate withdrawals or distributions from their 401(k) accounts. This also applies to any company stock held within the plan.

Are company insiders, like directors and executives, also restricted from trading TMO stock during this period?

Yes, as required by Section 306 of the Sarbanes-Oxley Act, Thermo Fisher's directors and executive officers are prohibited from directly or indirectly buying, selling, or transferring any company stock (or related derivatives) that they acquired in connection with their roles as directors or officers, during the blackout period, with limited exceptions.

How can I find out the exact dates the 401(k) plan blackout period begins and ends?

Investors and interested parties can obtain information about the actual start and end dates of the blackout period by contacting Thermo Fisher Scientific Inc.'s Corporate Secretary by telephone at (781) 622-1000 or by mail.

TMO 8-K SEC Disclosure

Summary

Thermo Fisher Scientific Inc. (TMO) has filed an 8-K report to announce a temporary suspension of trading under its 401(k) plan, commonly known as a "blackout period." This suspension is necessary to facilitate the transition to a new plan administrator for the 401(k) plan. The blackout period is scheduled to begin on December 21, 2023, and is expected to conclude during the week of January 14, 2024. During this time, participants will be unable to make transactions such as contribution changes, investment allocations, loan requests, or withdrawals.

Key Highlights

1Thermo Fisher Scientific Inc. (TMO) is implementing a temporary blackout period for its 401(k) plan.
2The blackout is due to a transition to a new plan administrator.
3The suspension of trading is expected to start on December 21, 2023.
4The blackout period is anticipated to end around the week of January 14, 2024.
5During the blackout, participants cannot make changes to contributions, investments, loans, or withdrawals.
6Company directors and executive officers are also subject to restrictions on trading company stock acquired through their service during the blackout period, as per Sarbanes-Oxley Act regulations.
7Information regarding the exact start and end dates of the blackout period can be obtained by contacting the Company's Corporate Secretary.

THERMO FISHER SCIENTIFIC INC. 8-K Report, Temporary Suspension of Trading Under Employee Benefit Plans (Nov 7, 2023)

Summary

Key Highlights

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