Business Context and Reporting Period
This Form 8-K is a current report filed by U-Store-It Trust (Cubesmart) on May 14, 2010. The filing addresses a temporary suspension of trading under the company's employee benefit plans, specifically the U-Store-It L.P. 401(k) Plan.
Financial Metrics
This filing does not contain financial performance data. There are no reported figures for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes
The primary material change reported is an extension of the blackout period for the 401(k) Plan. Originally expected to end approximately May 15, 2010, the period was extended due to administrative difficulties in the transfer and reconciliation of Plan accounts. The new expected end date is during the week beginning May 30, 2010. No other material changes to the original notice were reported.
Outlook, Risks, and Unusual Items
The filing cites administrative difficulties as the cause for the delay in ending the trading suspension. There is no management commentary regarding future financial outlook, strategic risks, or unusual financial items in this document.
Key Facts for Investor Verification
- The 401(k) Plan blackout period was extended from an expected end date of May 15, 2010, to the week beginning May 30, 2010.
- The extension was caused by administrative issues in transferring and reconciling Plan accounts.
- Trading restrictions remain in effect for trustees and executive officers until the new end date.
- Information regarding the actual blackout dates is available from the Senior Vice President - Chief Legal Officer.