8-KCorporate ChangesExhibits & Filings

HONEYWELL INTERNATIONAL INC 8-K Report, Bylaw Amendment (Oct 2, 2008)

Filed October 2, 2008For Securities:HONHONIV

Summary

This 8-K filing from Honeywell International Inc. (HON) on October 1, 2008, details amendments to the company's By-laws approved by the Board of Directors on September 26, 2008. These amendments primarily focus on enhancing the disclosure requirements for stockholders who wish to present business or nominations at annual or special meetings. The changes aim to provide greater transparency by requiring stockholders to disclose not only their stock holdings but also any derivative positions, hedging activities, or borrowed/loaned shares. These updated By-laws clarify that the advance notice requirements apply to all stockholder-proposed business or nominations, regardless of whether they are made under Regulation 14A. Furthermore, stockholders must now inform the company of any changes to these disclosures from the record date up to the meeting date. For investors, these changes signal Honeywell's commitment to corporate governance and potentially a more rigorous process for shareholder proposals.

Key Highlights

  • 1Honeywell International Inc. amended its By-laws on September 26, 2008.
  • 2The amendments enhance disclosure requirements for stockholders presenting business or nominations at meetings.
  • 3Stockholders must now disclose swap or other derivative/short positions.
  • 4Hedging transactions, profits interests, options, and borrowed/loaned shares must also be disclosed.
  • 5The advance notice requirements apply to all stockholder-proposed business/nominations, including those under Regulation 14A.
  • 6Stockholders are required to notify the company of any changes to disclosures from the record date.

Frequently Asked Questions

The main purpose is to increase transparency and the information available to the company and other stockholders regarding proposals or nominations put forth by stockholders. This includes requiring disclosure of more complex financial arrangements like derivative positions and hedging activities.

A stockholder will need to provide more detailed information in their advance notice. This includes disclosing not only their stock ownership but also any derivative positions, hedging activities, or arrangements involving borrowed or loaned shares that they hold.

The filing does not explicitly state these changes are for a specific upcoming meeting, but they are designed to apply to all future annual or special meetings where a stockholder seeks to present business or nominations.

This clarifies that the company's By-laws apply to all stockholder-initiated proposals or nominations, not just those that are part of a formal proxy solicitation under Regulation 14A. It ensures a consistent level of disclosure regardless of the procedural path taken by the stockholder.