Business Context and Reporting Period
This Form 8-K Current Report was filed by Campbell Soup Company on November 29, 2010. The filing addresses a temporary suspension of trading under the company's employee benefit plans (Item 5.04) and includes related exhibits (Item 9.01).
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on administrative changes to the 401(k) plan and does not contain financial performance data.
Material Changes
The material change reported is the implementation of a "blackout period" for the Campbell Soup Company Savings Plus Plan for Salaried Employees and the Savings Plus Plan for Hourly Paid Employees. This suspension is necessitated by changes to the 401(k) plan in connection with the replacement of its current service provider.
Guidance, Outlook, and Management Commentary
Blackout Period Details:
- Start Date: 4:00 pm Eastern Time on December 30, 2010.
- End Date: During the week of January 9, 2011.
- Restrictions: Participants will be unable to make contribution rate changes, future investment changes, investment election changes, loan repayments, loan requests, or withdrawals/distributions, including those involving Campbell common stock.
Executive Trading Restrictions: On November 30, 2010, the company notified directors and executive officers of the blackout period and the associated trading restrictions on Campbell common stock (including derivatives) required under Section 306 of the Sarbanes-Oxley Act of 2002 and Section 104 of Regulation BTR.
Important Facts for Investors to Verify
- Confirm the exact end date of the blackout period, as the filing only specifies it will occur during the week of January 9, 2011.
- Verify the specific trading restrictions applicable to directors and executive officers during the blackout period as detailed in Exhibit 99.1.
- Note the contact information for obtaining blackout period details: Fidelity Investments (prior to December 31, 2010) and the Campbell Benefits Center (on or after January 3, 2011).