TIMKENSTEEL CORPORATION (NYSE:TMST) Files An 8-K Temporary Suspension of Trading Under Registrant’s Employee Benefit Plans
Item 5.04. Temporary Suspension of Trading Under Registrant’s Employee Benefit Plans.
TimkenSteel Corporation (the “Company”) is changing the service provider for its 401(k) plans from Empower Retirement to Merrill, a Bank of America company. In connection with this action, a blackout period under the TimkenSteel Corporation Savings and Investment Pension Plan, the TimkenSteel Corporation Bargaining Savings and Investment Pension Plan, the TimkenSteel Corporation Savings Plan for Certain Bargaining Employees, and the TimkenSteel Corporation Voluntary Investment Pension Plan (the “401(k) Plans”) will begin as of 4:00 p.m. Eastern Time on September 23, 2019 and will end as of 8:00 a.m. Eastern Time on October 14, 2019 (the “Blackout Period”). On August 20, 2019, the Company received a notice required by Section 101(i)(2)(E) of the Employee Retirement Income Security Act of 1974, as amended, regarding the Blackout Period.
During the Blackout Period, participants in the 401(k) Plans will be unable to obtain loans, withdrawals or distributions from the 401(k) Plans, change or direct investments in their individual accounts, including those involving the TimkenSteel stock fund (regarding TimkenSteel common shares, without par value), change contributions, update beneficiaries, or access their accounts online or by phone.
Also on August 20, 2019, the Company sent a notice (the “Insider Notice”) to its directors and executive officers informing them of the Blackout Period. The Insider Notice was required to Section 306 of The Sarbanes-Oxley Act of 2002 and Section 104 of Regulation BTR under the Securities Exchange Act of 1934, as amended.
A copy of the Insider Notice is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Any inquiries regarding the Blackout Period may be directed to:
1835 Dueber Avenue SW
Canton, OH 44706
Attention: Frank A. DiPiero
Item 9.01. Financial Statements and Exhibits.
TimkenSteel Corp Exhibit
EX-99.1 2 exhbit991blackoutnoticetot.htm EXHIBIT 99.1 Exhibit Exhibit 99.1 To: Directors and Executive Officers of TimkenSteel CorporationFrom: Frank A. DiPiero,…
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About TIMKENSTEEL CORPORATION (NYSE:TMST)
TimkenSteel Corporation manufactures alloy steel, as well as carbon and micro-alloy steel, with an annual melt capacity of approximately two million tons. The Company’s portfolio includes special bar quality (SBQ) bars, seamless mechanical tubing and precision steel components. It operates in two segments: Industrial & Mobile and Energy & Distribution. In addition, it supplies machining and thermal treatment services and manages raw material recycling programs, which are used as a feeder system for the Company’s operations. It offers services to various sectors, including oil and gas; automotive; industrial equipment; mining; construction; rail; aerospace and defense; heavy truck; agriculture, and power generation. The Company’s steels are featured in a range of end products, including oil drill pipe; hubs; axles; crankshafts and connecting rods; bearing races and rolling elements; bushings; fuel injectors; wind energy shafts, and anti-friction bearings, among others.
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