Business Context and Reporting Period
Company: Applied Industrial Technologies, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: November 5, 2024
Subject: Temporary suspension of trading under the Company's Employee Benefit Plans due to a recordkeeping platform migration.
Key Financial Metrics
This filing does not contain financial performance data. There are no reported values for revenue, profit, cash flow, margins, debt, or liquidity in this document.
Material Changes
The filing reports a material administrative change regarding the Company's Retirement Savings Plan:
- Plan Migration: The Retirement Savings Plan is migrating from Principal Financial Group, Inc. to Schwab Retirement Plan Services, Inc.
- Trading Suspension: A blackout period is being implemented for plan participants and Section 16 directors/officers.
Guidance, Outlook, and Risks
Blackout Period Details:
- Expected Start: December 20, 2024, at 4:00 p.m. Eastern Time.
- Expected End: During the calendar week of January 19, 2025 (subject to extension).
- Restricted Activities for Participants: No contribution rate changes, fund transfers, paperless distributions/loans, submission of distribution/loan paperwork, changes to investment elections, or rollover/loan check submissions.
- Restricted Activities for Directors/Officers: Prohibited from purchasing, selling, or transferring Company common shares or derivative securities during the blackout period.
Contact for Inquiries: Jon S. Ploetz, Vice President – General Counsel & Secretary.
Investor Verification Checklist
- Confirm the exact start and end dates of the blackout period once finalized, as the current dates are estimates.
- Verify if the migration to Schwab Retirement Plan Services impacts investment options or fee structures for the Retirement Savings Plan.
- Monitor for any extensions to the blackout period beyond the week of January 19, 2025.