Marriott Suspends Employee Benefit Plan Trading
Ticker: MAR · Form: 8-K · Filed: Aug 20, 2024 · CIK: 1048286
| Field | Detail |
|---|---|
| Company | Marriott International INC /Md/ (MAR) |
| Form Type | 8-K |
| Filed Date | Aug 20, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: employee-benefits, trading-suspension
Related Tickers: MAR
TL;DR
MAR temporarily halted employee stock plan trading starting Aug 19.
AI Summary
Marriott International, Inc. announced a temporary suspension of trading under its employee benefit plans, effective August 19, 2024. This action is related to the company's filings with the SEC and does not appear to be tied to a specific financial event or transaction mentioned in this filing.
Why It Matters
This suspension could temporarily impact employees' ability to buy or sell company stock through their benefit plans, potentially affecting their investment strategies.
Risk Assessment
Risk Level: low — The filing is procedural, announcing a temporary suspension of trading under employee benefit plans, with no immediate financial implications disclosed.
Key Players & Entities
- Marriott International, Inc. (company) — Registrant
- August 19, 2024 (date) — Effective date of suspension
FAQ
What is the reason for the temporary suspension of trading under Marriott's employee benefit plans?
The filing does not specify the exact reason for the suspension, only that it is temporary and effective August 19, 2024.
When did the temporary suspension of trading under employee benefit plans begin?
The temporary suspension began on August 19, 2024.
Which specific employee benefit plans are affected by this suspension?
The filing refers generally to 'Registrant's Employee Benefit Plans' without specifying individual plan names.
Is this suspension related to any financial performance issues at Marriott?
This filing does not indicate that the suspension is related to financial performance issues; it is presented as a procedural matter.
When is the suspension expected to end?
The filing states the suspension is 'temporary' but does not provide an expected end date.
Filing Stats: 765 words · 3 min read · ~3 pages · Grade level 11.3 · Accepted 2024-08-20 11:19:43
Key Financial Figures
- $0.01 — Which Registered Class A Common Stock, $0.01 par value MAR Nasdaq Global Select Mark
Filing Documents
- mar-20240819.htm (8-K) — 36KB
- ex991mar-2024x088xk.htm (EX-99.1) — 7KB
- mar-20240819_g1.jpg (GRAPHIC) — 182KB
- 0001628280-24-037852.txt ( ) — 585KB
- mar-20240819.xsd (EX-101.SCH) — 2KB
- mar-20240819_lab.xml (EX-101.LAB) — 21KB
- mar-20240819_pre.xml (EX-101.PRE) — 12KB
- mar-20240819_htm.xml (XML) — 3KB
04
Item 5.04. Temporary Suspension of Trading Under Registrant's Employee Benefit Plans. The Marriott Retirement Savings Plan ("RSP") is transitioning to a new plan recordkeeper. To facilitate the transition, all transactions in the RSP will be suspended during a blackout period, which is expected to begin at 4 p.m. Eastern time on September 25, 2024, and is expected to end by October 18, 2024. Participants in the RSP were notified of the blackout period on August 19, 2024. During the blackout period, participants in the RSP will be unable to make changes to their investments or contribution rates or take a loan or distribution from their RSP accounts until the transition is complete, including with respect to shares of common stock, $0.01 par value per share (the "Common Stock") of Marriott International, Inc. (the "Company") held by a participant in the Marriott International, Inc. Company Stock Fund, which is an investment option in the RSP. The notification described under Section 101(i)(2)(E) of the Employee Retirement Income Security Act of 1974 relating to the blackout period was provided to the Company on August 19, 2024. On August 19, 2024, the Company sent a notice to its directors and executive officers informing them of the RSP blackout period and the restrictions that will apply to them during the blackout period. During the blackout period, subject to certain limited exemptions, the Company's directors and executive officers will be prohibited from directly or indirectly purchasing, selling, acquiring or transferring any Common Stock (including derivatives thereof) acquired in connection with their service or employment as a director or executive officer of the Company. This notice was required pursuant to Section 306 of the Sarbanes-Oxley Act of 2002 and Rule 104 of Regulation BTR under the Securities Exchange Act of 1934. A copy of the notice to directors and executive officers is attached as Exhibit 99.1 and incorporated by reference. During the
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Description 99.1 Blackout Period Notice to Directors and Executive Officers, dated August 19, 2024 . 104 The cover page to this Current Report on Form 8-K, formatted in inline XBRL. 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MARRIOTT INTERNATIONAL, INC. Date: August 20, 2024 By: /s/ Andrew P.C. Wright Andrew P.C. Wright Vice President, Assistant General Counsel and Secretary 3