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, settled in cash based on the price of common stock at settlement.

Summary

• On July 1, 2024, Duncan Angove, a director of Honeywell International Inc., acquired phantom shares through the company's Deferred Compensation Plan for Non-Employee Directors.
• The transaction involved the acquisition of 165.92 phantom shares at a price of $210.95 per share.
• These phantom shares are settled in cash based on the price of Honeywell's common stock at the time of settlement, as per the plan's provisions.
• Following the reported transaction, Angove directly owns 6,957.192 shares.
• The phantom shares are accrued under the Deferred Compensation Plan for Non-Employee Directors and will be settled in cash based on elections by the Reporting Person as permitted under the Plan.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation, indicating stability and alignment of interests. It's a neutral to slightly positive signal.

Positives

• The acquisition of phantom shares indicates Angove's continued investment and alignment with Honeywell's performance.
• The Deferred Compensation Plan allows for flexible settlement options, providing Angove with control over the timing of cash payouts.

Future Outlook

The phantom shares will be settled in cash based on elections by the Reporting Person as permitted under the Plan.

Industry Context

Deferred compensation plans are a common way for companies to provide additional benefits to directors and align their interests with the long-term performance of the company. This transaction reflects a standard practice in executive compensation.

Comparison to Industry Standards

• Deferred compensation plans are widely used among large corporations like Honeywell to attract and retain board members.
• Companies such as General Electric and Boeing also utilize similar deferred compensation structures for their non-employee directors.
• The amount of deferred compensation and the specific terms of the plan (e.g., cash settlement based on stock price) are generally in line with industry practices for companies of Honeywell's size and complexity.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders by aligning director compensation with company performance.
• The transaction has no direct impact on employees, customers, suppliers, or creditors.

Key Dates