Completed Spinoffs

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  Spinoff Name Spinoff Symbol Announced Date Spinoff Date First Day Closing Spinoff Last Price Spinoff Performance Spinoff Current Volume Parent Name Parent Symbol Parent First Day Closing Parent Last Price Parent Performace Parent Current Volume Type
Newmark Group Inc. NMRK 02/09/2017 11/30/2018 8.40 8.40 0.00% 1,074,438 BGC Partners, Inc. BGCP 10.54 10.54 0.00% 3,530,035 Carve Out
BGC Partners, Inc., spinoff details:

February 9, 2017: BGC Partners (BGCP) announced that it has confidentially submitted a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to the proposed initial public offering of the Class A common stock of a newly formed subsidiary that will hold BGC’s Real Estate Services business, which operates as “Newmark Grubb Knight Frank”, or “NGKF”.

December 15, 2017: BGC Partners (BGCP) and Newmark Group, Inc., a subsidiary of BGC that holds BGC’s Real Estate Services business, announced the pricing of Newmark’s initial public offering of 20 million shares of Newmark’s Class A common stock at a price to the public of $14.00 per share. Newmark’s Class A shares are expected to begin trading on December 15, 2017 on the NASDAQ Global Select Market under the symbol (NMRK), and the IPO is expected to close on or about December 19, 2017, subject to customary closing conditions.

May 3, 2018: BGC Partners (BGCP) filed their First Quarter 2018 earnings on May 3, 2018. Regarding the spin-off of Newmark (NMRK), it is mentioned in the filing that, "Had the spin-off occurred immediately following close of the first quarter of 2018, the ratio of Newmark common shares to be distributed in respect of each BGC common share would have been approximately 0.4702. However, the exact ratio of Newmark common shares to be distributed in respect of each BGC common share in the spin-off will depend on, among other things, the number of BGC common shares outstanding and the number of Newmark common shares owned by BGC as of the record date of the spin-off. The spin-off is subject to a number of conditions, and BGC may determine not to proceed with the spin-off if the BGC board of directors determines, in its sole discretion, that the spin-off is not in the best interest of the Company and its stockholders. Accordingly, the spin-off may not occur on any expected timeframe, or at all."

November 30, 2018: Newmark Group (NMRK) announced that BGC Partners (BGCP) had completed its previously announced distribution of all of the shares of Newmark held by BGC to stockholders of BGC.

Arcosa, Inc. ACA 12/12/2017 11/01/2018 28.57 27.18 -4.87% 446,765 Trinity Industries, Inc. TRN 22.26 23.39 5.08% 2,515,677 Spinoff
Trinity Industries, Inc., spinoff details:

December 12, 2017: Trinity Industries (TRN) announced that its Board of Directors has unanimously approved a plan to pursue a spin-off of the Company’s infrastructure-related businesses to Trinity shareholders. The separation is planned as a tax-free spin-off transaction to the Company's shareholders for U.S. federal income tax purposes and is expected to be completed in the second half of 2018.

May 15, 2018: Trinity Industries (TRN) introduced the name of its future infrastructure company as Arcosa, Inc. following the separation of the two companies into independent, publicly-traded companies. The previously announced spin-off transaction remains on track to be completed in the fourth quarter of 2018 through a tax-free spin of Arcosa to Trinity stockholders.

November 1, 2018: Trinity Industries (TRN), announced today that it has completed the separation of its infrastructure-related business, Arcosa, Inc. (ACA).

Resideo REZI 10/08/2017 10/29/2018 25.82 19.91 -22.89% 1,461,677 Honeywell International Inc. HON 141.06 143.22 1.53% 4,011,130 Spinoff
Honeywell International Inc., spinoff details:

October 8, 2017: Honeywell International (HONplans to spin off non-core assets and create at least two new publicly listed companies, as the U.S. industrial conglomerate seeks to streamline its business.

February 26, 2018: Honeywell (HON) that it will appoint former long-time company executive Roger Fradin as the Chairman of the Board for the Homes and Global Distribution business spinoff announced last year. Fradin will start immediately to help Homes transition into a separate, stand-alone business. The spins are expected to be completed by the end of 2018.

July 25, 2018: Honeywell (HON) announced Resideo will be the corporate name of the Honeywell Homes product portfolio and ADI global distribution businesses when they become a stand-alone, publicly traded company following completion of a spin that is expected by the end of 2018.

October 29, 2018: Honeywell International (HON) announced that it had completed the legal and structural separation of its Homes and ADI Global Distribution business (the “Spin-Off”), now called Resideo Technologies (REZI).

Automation & Specialty platform (“A&S platform”) AIMC 03/07/2018 10/01/2018 41.59 31.69 -23.80% 493,912 Fortive Corporation FTV 84.43 73.2 -13.30% 1,999,240 Reverse Morris Trust
Fortive Corporation, spinoff details:

March 7, 2018: Fortive Corporation (FTV) announced that it has entered into a definitive agreement to combine four operating companies from its Automation & Specialty platform with Altra Industrial Motion (AIMC) in a tax-efficient transaction, creating a pure-play, global leader in the power transmission and motion control market. The combination will be effected as a Reverse Morris Trust, which is expected to be tax-efficient to Fortive.

October 1, 2018: Fortive Corporation (FTV) announced that it had consummated its previously announced combination of Fortive’s Automation & Specialty platform (excluding Fortive’s Hengstler and Dynapar businesses) with Altra Industrial Motion Corp. (AIMC).

Frontdoor FTDR 07/26/2017 10/01/2018 41.00 22.57 -44.95% 265,644 ServiceMaster Global Holdings, Inc. SERV 62.03 43.07 -30.57% 882,270 Spinoff
ServiceMaster Global Holdings, Inc., spinoff details:

July 26, 2017: ServiceMaster Global Holdings (SERV) announced its intention to separate its American Home Shield (AHS) business from its Terminix and Franchise Services Group (FSG) businesses. The separation of AHS is expected to result in two publicly traded companies – ServiceMaster and AHS – by means of a spin-off of the AHS business to ServiceMaster shareholders, in a transaction intended to be tax-free.  The transaction is expected to be completed in the third quarter of 2018.

March 26, 2018: ServiceMaster Global Holdings, Inc. (SERV), a leading provider of essential residential and commercial services, today provided the following update in connection with its previously announced spin-off of American Home Shield (AHS). The spin-off continues to be on track to be completed in the third quarter of 2018.

March 27, 2018: ServiceMaster Global Holdings (SERV) provided an update in connection with its previously announced spin-off of American Home Shield and announced the Interim President of AHS.

May 3, 2018: ServiceMaster Global Holdings (SERV) announced the appointment of Rex Tibbens as President and Chief Executive Officer of its American Home Shield business, effective May 15, 2018. ServiceMaster’s previously announced spin-off of its American Home Shield business is on track to be completed in the third quarter of 2018, at which time Mr. Tibbens will continue to lead the brand.

August 28, 2018: ServiceMaster Global Holdings (SERV) announced that its Board of Directors approved the separation of its American Home Shield business through the distribution of at least 80.1 percent of the outstanding shares of common stock of its wholly owned subsidiary, frontdoor, inc. (“Frontdoor”), to holders of ServiceMaster common stock. Following the separation, ServiceMaster’s common stock will continue to trade on NYSE under the symbol “SERV.”  Frontdoor’s common stock has been approved for listing on the NASDAQ under the symbol “FTDR.”. The separation will be completed through a pro rata dividend of Frontdoor common stock effective on October 1, 2018 to ServiceMaster shareholders of record as of the close of business on September 14, 2018.

October 1, 2018: ServiceMaster Global Holdings (SERV) announced that it successfully completed the spin-off of frontdoor, inc., which is now an independent public company that will begin “regular way” trading this morning on Nasdaq under the symbol “FTDR.” ServiceMaster shares will continue to trade on the NYSE under the symbol “SERV.”

Garrett Motion Inc. GTX 10/08/2017 10/01/2018 18.50 12.33 -33.35% 928,073 Honeywell International Inc. HON 166.40 143.22 -13.93% 4,011,130 Spinoff
Honeywell International Inc., spinoff details:

October 8, 2017: Honeywell International (HON) plans to spin off non-core assets and create at least two new publicly listed companies, as the U.S. industrial conglomerate seeks to streamline its business.

February 26, 2018: Honeywell (HON) that it will appoint former long-time company executive Roger Fradin as the Chairman of the Board for the Homes and Global Distribution business spinoff announced last year. Fradin will start immediately to help Homes transition into a separate, stand-alone business. The spins are expected to be completed by the end of 2018.

June 14, 2018: Honeywell (HON) announced that its Transportation Systems business will rebrand itself  "Garrett - Advancing Motion" upon successful completion of the previously announced spin which is expected to close before the end of the third quarter.

September 6, 2018: Honeywell International (HON) sent a notice (to its directors and executive officers regarding a blackout period. The administrator for the Plans will impose restrictions on transactions by participants in the Plans during the Blackout Period in order to provide for the conversion of the Honeywell Common Stock Fund in the Plans, which is an investment option under the Plans consisting primarily of shares of Honeywell common stock, into a new stock fund in respect of common stock of Garrett Motion Inc., in connection with, and contingent upon, the closing of the spin-off among Honeywell and Garrett Motion Inc., expected to close October 1, 2018.

October 1, 2018: Honeywell International (HON) announced that it completed the legal and structural separation of its Transportation Systems business , now called Garrett Motion Inc. As a result of the Spin-Off, Honeywell’s shareowners of record as of September 18, 2018 received one share of Garrett common stock, par value $0.001 per share, for every ten shares of Honeywell common stock, par value $1.00 per share, held as of the Record Date and cash for any fractional shares of Garrett’s common stock. Honeywell distributed approximately 74.1 million shares of Garrett common stock in the distribution.

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