Donegal Group Inc. (NASDAQ:DGICA) Files An 8-K Temporary Suspension of Trading Under Registrant’s Employee Benefit Plans
Item5.04.
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Temporary Suspension of Trading Under Registrants Employee Benefit Plans. |
On April21, 2017, we notified the participants in the Donegal
Mutual Insurance Company 401(k) Plan, or the Plan, that the
Mercer Division of the Marsh McLennan Companies, or Mercer, had
advised us it would transfer its performance of certain
recordkeeping services for the Plan to Transamerica Retirement
Solutions, LLC. We further advised the participants in the Plan
that because of the transfer by Mercer, a blackout period would
begin at 3:00 p.m., local time, on May24, 2017 and terminate
during the week ending June9, 2017, or the Blackout Period. We
further notified the participants in the Plan that during the
Blackout Period, participants in the Plan will be unable to
effect certain transactions with respect to their Plan accounts,
including moving assets from one fund to another or taking a
distribution.
On April24, 2017, we notified our directors and executive
officers that during the Blackout Period they may not purchase,
sell or otherwise acquire or transfer, directly or indirectly,
any shares of our ClassA common stock and ClassB common stock,
including the exercise of stock options. We provided this notice
to our directors and executive officers to Section306 of the
Sarbanes-Oxley Act of 2002 and Rule 104 of Regulation BTR of the
Securities and Exchange Commission. Out of an abundance of
caution, we also notified the directors of Donegal Mutual
Insurance Company, the holder of 72.8% of the combined voting
power of our outstanding ClassA common stock and our outstanding
ClassB common stock, that the directors of Donegal Mutual
Insurance Company should also comply with the trading
restrictions during the Blackout Period.
We will advise all of the participants in the Plan of the actual
date of termination of the Blackout Period.
A participant in the Plan may obtain, without charge, information
regarding the Blackout Period, including the actual termination
date of the Blackout Period, by contacting Jeffrey D. Miller,
Executive Vice President and Chief Financial Officer, Donegal
Group Inc., 1195 River Road, P.O. Box 302, Marietta, Pennsylvania
17547.
| Item9.01. | Financial Statements and Exhibits. |
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Exhibit No. |
Exhibit Description |
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| 99.1 |
Notice dated April24, 2017 to Directors and Executive Officers of Donegal Group Inc. and Directors of Donegal Mutual Insurance Company |
About Donegal Group Inc. (NASDAQ:DGICA)
Donegal Group Inc. (DGI) is an insurance holding company whose insurance subsidiaries offer personal and commercial lines of property and casualty insurance to businesses and individuals in over 21 Mid-Atlantic, Midwestern, New England and Southern states. The Company has four segments, which consist of its investment function, its personal lines of insurance, its commercial lines of insurance and its investment in Donegal Financial Services Corporation (DFSC). The Company primarily operates through two segments: personal lines of insurance and commercial lines of insurance. The personal lines of insurance, which its insurance subsidiaries write consists primarily of private passenger automobile and homeowners insurance. The commercial lines of insurance, which its insurance subsidiaries write consists primarily of commercial automobile, commercial multi-peril and workers’ compensation insurance. It holds interests in DFSC, which is a unitary savings and loan holding company.
Donegal Group Inc. (NASDAQ:DGICA) Recent Trading Information
Donegal Group Inc. (NASDAQ:DGICA) closed its last trading session up +0.17 at 17.20 with 35,330 shares trading hands.
