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Share Name | Share Symbol | Market | Type |
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Libbey Inc | AMEX:LBY | AMEX | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.7957 | 0 | 01:00:00 |
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þ
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ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
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For the plan year ended December 31, 2017
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o
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
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For the transition period from _________ to __________
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December 31,
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2017
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2016
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Assets
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Investments at fair value
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$
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46,766,761
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$
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45,142,416
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Notes receivable from participants
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2,572,814
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2,894,114
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Employer and participant contributions receivable
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70,518
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—
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Net assets available for benefits
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$
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49,410,093
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$
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48,036,530
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Additions
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Investment income:
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Interest and dividends
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$
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2,010,999
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Net appreciation in fair value of investments
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456,824
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Total investment income
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2,467,823
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Interest income on notes receivable from participants
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115,232
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Contributions:
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Participants
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2,464,431
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Employer
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908,928
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Total contributions
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3,373,359
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Total additions
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5,956,414
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Deductions
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Participant withdrawals or benefits paid directly to participants
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(4,521,206
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)
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Administrative expenses
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(58,748
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)
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Total deductions
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(4,579,954
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)
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Net increase in assets available for benefits prior to transfer
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1,376,460
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Net transfer to Libbey Inc. Retirement Savings Plan
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(2,897
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)
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Net increase in assets available for benefits
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1,373,563
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Net assets available for benefits:
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Beginning of year
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48,036,530
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End of year
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$
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49,410,093
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•
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In-service withdrawal on or after attainment of age 59-1/2;
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•
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Total and permanent disability, as defined in the Plan, of the participant;
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•
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Death of the participant;
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Termination of employment; or
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Financial hardship that complies with IRS regulations.
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Level 1 — Fair value is based on unadjusted quoted prices for identical assets or liabilities in an active market that the Plan has the ability to access at the measurement date.
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Level 2 — Fair value is based on quoted prices in markets that are not active, quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability.
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Level 3 — Fair value is based on prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable. These inputs reflect management’s judgment about the assumptions that a market participant would use in pricing the investment and are based on the best available information, some of which may be internally developed.
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Registered investment companies:
Valued at quoted market prices, which represent the net asset value (NAV) of shares held by the Plan at year-end.
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Common stock:
Valued at the closing price reported in the active market in which the individual securities are traded.
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Common collective trusts:
Valued at the NAV provided by the administrator of the fund. The NAV is based on the value of the underlying assets owned by the fund, minus its liabilities, divided by the number of units outstanding.
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Fair Value Measurements Using Input Type
December 31, 2017
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Level 1
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Level 2
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Level 3
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Total
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Registered investment companies
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$
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39,943,056
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$
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—
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$
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—
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$
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39,943,056
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Libbey Inc. common stock
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2,723,874
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—
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—
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2,723,874
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Total investments in the fair value hierarchy
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$
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42,666,930
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$
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—
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$
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—
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42,666,930
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Common collective trust measured at NAV
(a)
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4,099,831
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Total investments
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$
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46,766,761
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Fair Value Measurements Using Input Type
December 31, 2016
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Level 1
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Level 2
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Level 3
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Total
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Registered investment companies
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$
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33,890,674
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$
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—
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$
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—
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$
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33,890,674
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Libbey Inc. common stock
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6,622,756
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—
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—
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6,622,756
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Total investments in the fair value hierarchy
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$
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40,513,430
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$
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—
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$
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—
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40,513,430
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Common collective trust measured at NAV
(a)
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4,628,986
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Total investments
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$
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45,142,416
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(a)
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Represents investments in a common collective trust. The JP Morgan Stable Asset Income Fund invests in high quality fixed income portfolios combined with investment contracts called “benefit responsive wraps” issued by other insurance companies. There are no unfunded commitments at December 31, 2017. The Plan may terminate its interest in the JP Morgan Stable Asset Income Fund at any time as long as the funds will not be invested in an investment option determined by JPMorgan Chase Bank, N.A. to be a competing fund. Complete or partial withdrawals must be given in writing not less than 30 days prior to the valuation date, upon which the withdrawal is to be effected, as determined by the fund (see
Note 2
). As previously discussed in
Note 2
, the JP Morgan Stable Asset Income Fund is presented at fair value which is the amount Plan participants would receive if they were to initiate permitted transactions under the terms of the Plan.
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Identity of Issuer, Borrower, Lessor or Similar Party
and Description of Investment
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Number of Shares/Units
or Rate of Interest
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Current
Value
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Registered investment companies:
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Harbor*
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International Fund
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45,496
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shares
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$
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3,071,907
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Capital Appreciation Fund
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59,436
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shares
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4,055,890
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Invesco Small Capital Growth Fund
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42,896
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shares
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1,802,471
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Dodge & Cox Stock Fund
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23,570
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shares
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4,799,089
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Cohen & Steers Realty Shares Fund
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3,218
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shares
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139,363
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Dimensional
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DFA U.S. Small Cap Value
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1,496
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shares
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56,715
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DFA U.S. Small Cap
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48,506
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shares
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1,743,318
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DFA Emerging Markets Value
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4,052
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shares
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126,516
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JP Morgan
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High Yield Fund
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81,679
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shares
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605,239
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SmartRetirement 2020 Fund
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30,121
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shares
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597,002
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SmartRetirement 2025 Fund
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39,572
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shares
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775,616
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SmartRetirement 2030 Fund
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36,360
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shares
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780,646
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SmartRetirement 2035 Fund
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32,226
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shares
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673,839
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SmartRetirement 2040 Fund
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23,412
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shares
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530,042
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SmartRetirement 2045 Fund
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39,830
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shares
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856,735
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SmartRetirement 2050 Fund
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28,813
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shares
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619,482
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SmartRetirement 2055 Fund
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3,664
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shares
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87,726
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SmartRetirement 2060 Fund
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796
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shares
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14,342
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SmartRetirement Income Fund
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15,929
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shares
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297,076
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100% U.S. Treasury Money Market Fund
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2,255,694
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units
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2,255,694
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American Funds Growth Fund of America
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37,423
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shares
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1,852,062
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Federated Total Return Bond
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146,143
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shares
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1,592,964
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Vanguard
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Inflation-Protected Securities Fund
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44,377
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shares
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1,136,038
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Total Bond Market Index Fund
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210,612
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shares
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2,264,075
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FTSE All-World ex-US Index
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35,089
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shares
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3,778,069
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Institutional Index Fund
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22,308
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shares
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5,431,140
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Common collective trust:
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JP Morgan Stable Asset Income Fund
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9,077
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shares
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4,099,831
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Common stock:
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Libbey Inc.* common stock
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362,217
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shares
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2,723,874
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Total investments
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46,766,761
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Participant Loans*
|
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Interest rates ranging from 4.25% to 5.25% with latest maturity date of May 25, 2026
|
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2,572,814
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Net Assets
|
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$
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49,339,575
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LIBBEY INC. SUPPLEMENTAL RETIREMENT PLAN
|
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Libbey Inc.
Employee Benefits Committee
Plan Administrator
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Dated:
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June 15, 2018
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By:
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/s/ Sarah J. Zibbel
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Sarah J. Zibbel
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Chairman Employee Benefits Committee
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By:
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/s/ James C. Burmeister
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James C. Burmeister
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Vice President and Chief Financial Officer of Libbey Inc.
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1 Year Libbey Chart |
1 Month Libbey Chart |
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