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.
- 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.