This is only available with the Ledgy Public plan.
Trading restriction periods (blackout periods) are critical for compliance during sensitive corporate events such as earnings announcements or mergers. Ledgy now offers a comprehensive solution to manage these periods, ensuring that your company complies with trading regulations.
Trading restriction periods are designated timeframes during which certain stakeholders are prohibited from selling shares or initiating transactions that involve selling shares. These periods help companies enforce compliance with insider trading regulations and other securities laws.
How to Access Trading Restriction Periods
Company administrators can find the Restriction Periods admin page under "Market Orders" > "Restriction Periods" in the navigation sidebar. From this page, administrators can create, edit, view, and audit restriction periods.
Creating a New Restriction Period
To create a new restriction period:
Navigate to Market Orders > Restriction Periods in the sidebar
Click the + Restriction Period button
Configure the following settings:
Period title: Name of the restriction period (visible to employees)
Affected stakeholders: Select individual stakeholders, stakeholder groups, and/or stakeholder custom field values
Opening and closing dates: Set the start and end dates of the period.
Note 🚨 all blackout periods start at 0:00 (UTC) and end at 23:59 (UTC)🚨
Stakeholder message: Add a message (max 200 characters) that will be shown to affected stakeholders:
Internal note: Optional note for internal reference (max 200 characters)
Click Add period to schedule the restriction period
Understanding Restriction Period Statuses
Upcoming: Scheduled to start in the future
Active: Currently ongoing (start date in the past, closing date in the future)
Expired: Finished (both start and closed dates are in the past)
What is Affected by Restriction Periods?
During an active restriction period, affected stakeholders:
Cannot sell shares via the "Sell Shares" page
Cannot create exercise requests that use sell-to-cover or sell-all as settlement methods
Will have any pending exercise requests frozen unless cancelled
Managing Restriction Periods
Administrators can manage restriction periods in the following ways
Upcoming periods: Full editing possible
Active periods: Cannot edit the start date, but can edit other details
Expired periods: Cannot be edited
Deleting restriction periods: Only upcoming restriction periods can be deleted. Active and expired periods cannot be removed to maintain audit records.
Audit logs
Administrators can also download an Excel sheet of all stakeholders under a restriction period when it began. This is available for download once a restriction period has ended.
Permissions
The "Manage Restriction Periods" permission controls which roles can create, edit, and delete restriction periods. All owners and admins automatically have this permission. Custom roles can view and edit restriction periods if the relevant permission is selected.