Kearny Financial Corp. current report, 30 October 2023

Business Context and Reporting Period

Company: Kearny Financial Corp. (KRNY)
Filing Type: Form 8-K (Current Report)
Date of Report: October 30, 2023
Principal Office: Fairfield, New Jersey
Context: The filing discloses a temporary suspension of trading under the Company's employee benefit plans due to a change in recordkeepers.

Financial Metrics

This Form 8-K does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The filing is strictly administrative regarding employee benefit plan operations.

Material Changes

Recordkeeper Change: Effective November 21, 2023, the Kearny Bank Employees' Savings Plan (401(k) Plan) is transitioning its recordkeeper from Pentegra Services, Inc. to Empower.

Outlook, Risks, and Unusual Items

Trading Blackout Period:

  • Start Date: After 4:00 p.m. Eastern time on November 15, 2023.
  • Expected End Date: The week of December 18, 2023.
  • Restrictions: Participants are prohibited from directing investments, obtaining loans, making withdrawals, or engaging in transactions within the Company's common stock fund.
Regulatory Compliance:
  • Notice was sent to directors and executive officers on October 30, 2023, pursuant to Section 306 of the Sarbanes-Oxley Act and Rule 104 of Regulation BTR.
  • Actual blackout dates may be requested from the Company Secretary for a period of two years following the blackout end date.

Key Facts for Investor Verification

  • Verify the exact start and end dates of the blackout period, as the filing provides an expected end date ("week of December 18, 2023") rather than a specific day.
  • Confirm that the transition to Empower as the new recordkeeper is proceeding without disruption to the 401(k) Plan.
  • Note that trading in the Company's common stock fund is restricted for plan participants during the blackout period.