What is the main reason for the temporary trading suspension (blackout period) mentioned in the filing?

The main reason for the blackout period is to facilitate the conversion of Honeywell stock held within employee retirement plans (like the Honeywell Common Stock Fund) into shares of Garrett Motion Inc. This conversion is necessary in connection with the planned spin-off of Garrett Motion.

Who is affected by this blackout period and what are the restrictions?

The blackout period affects participants in Honeywell's 401(k) and Puerto Rico Savings Plans. They will be temporarily prevented from making certain transactions involving the Honeywell Common Stock Fund. Additionally, Honeywell directors and executive officers will face specific trading restrictions on Honeywell common stock and derivative securities acquired through their service to the company.

What are the specific dates for the blackout period?

The blackout period is currently expected to begin on Friday, September 28, 2018, at 4:00 p.m. Eastern Time, and end by Saturday, October 6, 2018, during the week of September 30, 2018. The exact start and end dates can be obtained by contacting HR Help.

HON/HONIV 8-K SEC Disclosure

Q: When is the Garrett Motion Inc. spin-off expected to be completed, and how will it affect Honeywell shareholders?

The spin-off of Garrett Motion Inc. is expected to close on October 1, 2018. Honeywell shareholders of record as of 5:00 p.m. Eastern Time on September 18, 2018, will receive one share of Garrett Motion Inc. common stock for every 10 shares of Honeywell common stock they hold. Honeywell will issue cash in lieu of fractional shares.

Summary

Honeywell International Inc. (HON) filed an 8-K on September 5, 2018, primarily announcing a temporary trading suspension for its employee benefit plans, commonly known as a "blackout period." This restriction is directly related to the upcoming spin-off of its Garrett Motion Inc. subsidiary. The blackout period is designed to facilitate the conversion of Honeywell stock held within employee plans into shares of Garrett Motion. This is a critical event for employees and executives who participate in these plans, as it will temporarily limit their ability to trade Honeywell stock and related derivative securities. Furthermore, the filing details the spin-off mechanics, confirming that the distribution of Garrett Motion Inc. shares to Honeywell shareholders will occur on October 1, 2018. Shareholders of record on September 18, 2018, will receive one share of Garrett Motion for every 10 shares of Honeywell they hold. Investors should note that this spin-off will create a new, independent publicly traded entity, potentially impacting Honeywell's future financial performance and stock valuation. The filing also includes the relevant notices and press releases for these events.

Key Highlights

1Honeywell announced a "blackout period" for its 401(k) and Puerto Rico Savings Plans, restricting participant transactions in the Honeywell Common Stock Fund.
2The blackout period is linked to the conversion of Honeywell stock within employee plans into shares of the newly spun-off Garrett Motion Inc.
3The spin-off of Garrett Motion Inc. is officially scheduled to close on October 1, 2018.
4Honeywell shareholders of record on September 18, 2018, will receive 1 share of Garrett Motion for every 10 shares of Honeywell held.
5The blackout period is expected to begin on September 28, 2018, and end by October 6, 2018.
6Executives and directors will face trading restrictions on Honeywell common stock and derivative securities during the blackout period.
7This 8-K filing includes the official notice of the blackout period and a press release detailing the Garrett spin-off.

HONEYWELL INTERNATIONAL INC 8-K Report, Temporary Suspension of Trading Under Employee Benefit Plans (Sep 5, 2018)

Summary

Key Highlights

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