U.S. Bancorp issued a notice to its executive officers and directors regarding a blackout period for trading U.S. Bancorp common stock. This restriction is a result of upcoming changes to the U.S. Bank 401(k) Savings Plan's recordkeeper, trustee, and investment options.
The blackout period is expected to commence on December 24, 2024, and conclude during the week of January 12, 2025. During this time, participants in the 401(k) Plan will be unable to direct or diversify investments in the plan's U.S. Bancorp stock fund.
The trading prohibition applies to executive officers and directors, as well as their immediate family members sharing their household and entities they control. This measure ensures compliance with federal securities laws during the transition of the 401(k) Plan administration.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.