Form 4: Honeywell Director Angove Acquires Phantom Shares Through Deferred Compensation Plan

Director Duncan Angove acquired phantom shares of Honeywell International Inc. through a deferred compensation plan, as reported in a recent SEC Form 4 filing.

Summary

• On October 1, 2024, Duncan Angove, a director of Honeywell International Inc., acquired deferred compensation (phantom shares) equivalent to 169.8491 shares of common stock.
• The acquisition was made under the Deferred Compensation Plan for Non-Employee Directors.
• These phantom shares were acquired at a price of $206.07 per share, based on the mean of the highest and lowest sales price of Honeywell's common stock on the last trading day before the contribution.
• Angove now beneficially owns 7,164.8938 phantom shares directly.
• The phantom shares will be settled in cash based on the price of Honeywell's common stock at settlement, according to elections made by Angove under the plan.

Sentiment

Score: 6

Explanation: The document is a routine SEC filing detailing a standard compensation practice. It doesn't contain any information that would significantly impact investor sentiment positively or negatively.

Positives

• The acquisition of phantom shares by a director can be seen as a positive sign, indicating confidence in the company's future performance.
• Deferred compensation plans can align the interests of directors with those of shareholders.

Future Outlook

The phantom shares will be settled in cash based on the price of Honeywell's common stock at settlement, according to elections made by Angove under the plan.

Industry Context

Deferred compensation plans are a common way for companies to compensate and retain non-employee directors, aligning their interests with the long-term performance of the company. This filing is a routine disclosure of such activity.

Comparison to Industry Standards

• Deferred compensation plans for directors are a standard practice among large publicly traded companies like Honeywell.
• Companies such as General Electric, Boeing, and 3M also utilize similar deferred compensation structures for their non-employee directors.
• The specific terms of these plans, such as the vesting schedules and settlement methods, can vary, but the underlying principle of aligning director compensation with shareholder value remains consistent.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders.
• It provides transparency regarding director compensation, which is relevant to shareholders.

Key Dates