Summary
This Form 8-K filing by The Williams Companies, Inc. (WMB) on October 1, 2010, primarily announces a temporary suspension of trading for directors and executive officers in the company's 401(k) plan. This 'blackout period' is mandated by Sarbanes-Oxley Act regulations and is necessary to facilitate the removal of the WMB Common Stock Fund as an investment option within the plan. The blackout period is scheduled to commence on November 29, 2010, and is expected to conclude around the week of December 12, 2010. While this action impacts the ability of certain insiders to trade company stock through their retirement accounts, it is a procedural step and does not necessarily indicate any negative news about the company's performance or outlook.
Key Highlights
- 1Williams Companies announced a temporary trading suspension (blackout period) for directors and executive officers in its 401(k) plan.
- 2The blackout period is required by Sarbanes-Oxley Act regulations (Regulation BTR).
- 3The reason for the blackout is to facilitate the elimination of the WMB Common Stock Fund as an investment option in the 401(k) plan.
- 4The blackout period is scheduled to begin on November 29, 2010.
- 5The expected end date for the blackout period is during the week of December 12, 2010.
- 6A notice to directors and executive officers regarding this blackout period is attached as an exhibit.