First Seacoast Bancorp, Inc. Form 8-K Summary
Reporting date: October 25, 2023; filed regarding a change in administration of the First Seacoast Bank 401(k) Plan.
Business Context and Reporting Period
First Seacoast Bancorp, Inc. is the parent company of First Seacoast Bank, headquartered in Dover, New Hampshire. The filing is a current report under Item 5.04 and does not report quarterly or annual financial results.
Key Financial Metrics
The filing does not provide revenue, net income, cash flow, margins, debt, liquidity, capital, or other financial metrics.
Material Changes
- The administration of the First Seacoast Bank 401(k) Plan is being transferred from Pentegra to Empower.
- A participant blackout period is expected to begin at 4:00 p.m. on November 15, 2023, and end during the week of December 18, 2023.
- During the blackout, participants are expected to be unable to check account balances, transfer or diversify investments, or obtain withdrawals or distributions.
- The company notified its directors and executive officers on October 25, 2023, that related restrictions on trading First Seacoast Bancorp common stock would apply during the blackout period.
Guidance, Risks, and Unusual Items
The notice was provided pursuant to Section 306 of the Sarbanes-Oxley Act and SEC Regulation BTR. The filing does not provide earnings guidance, an operating outlook, or new financial contingencies. The principal unusual item is the temporary trading restriction associated with the 401(k) Plan blackout period.
Important Facts for Investors to Verify
- Confirm the final start and end dates of the 401(k) Plan blackout period.
- Review Exhibit 99.1 for the detailed trading limitations applicable to directors and executive officers.
- Determine whether any affected insider trading restrictions or plan-administration dates changed after the filing.
- Consult separate company filings for financial performance, capital, liquidity, and business outlook, which are not included in this Form 8-K.