HONEYWELL BOARD OF DIRECTORS APPROVES SPIN-OFF OF HONEYWELL AEROSPACE
Honeywell has announced that its Board of Directors has approved the planned spin-off of Honeywell Aerospace, set to occur on June 29, 2026. This decision marks a significant step in the separation process, which is on schedule for completion on the announced date. After the spin-off, the remaining segment focused on automation will be named Honeywell Technologies.
The distribution of shares will take place at 12:01 a.m. New York City time on June 29, 2026. Honeywell plans to allocate all issued and outstanding shares of Honeywell Aerospace common stock pro rata to shareholders recorded as of June 15, 2026. Shareholders will receive one share of Honeywell Aerospace for every two shares of Honeywell common stock they hold as of the close of business on the record date. This distribution is contingent upon the satisfaction or waiver of certain conditions outlined in the Separation and Distribution Agreement filed with the U.S. Securities and Exchange Commission.
Vimal Kapur, Chairman and CEO of Honeywell, stated, "Today's announcement clears the path to establishing two independent industry leaders in Honeywell Aerospace and Honeywell Technologies." He expressed confidence that both companies would be well-positioned to maximize long-term value for their stakeholders.
Honeywell Aerospace common stock is expected to begin trading on the Nasdaq Stock Market under the ticker symbol "HONAV" on a "when-issued" basis around June 15, 2026. Regular trading of Honeywell Aerospace common stock is anticipated to commence under the ticker symbol "HONA" on June 29, 2026. Honeywell Technologies will continue to trade under the ticker "HON." During the transition period from June 15 to June 26, there will be two markets for Honeywell common stock on Nasdaq: a regular market and an "ex distribution" market.
Additionally, a reverse stock split of Honeywell Technologies common stock will take place immediately following the spin-off, along with a proportional reduction in the number of authorized shares, subject to the completion of the Honeywell Aerospace spin-off.