A fastener assembly (400), having: a grommet (402) for extending through an aperture (412) of a first element (408), the grommet including a perimetric wall (416) defining an opening through the grommet; a stud (404) including a head (422) at one end and a cross pin (424) adjacent to an opposite end, the stud being received in the opening of the grommet; a cup member (426) interposed between the stud and the grommet, the cup member being moveable relative to the stud and movable relative to the grommet; and a locking element (444, 448, 802) that is moveable relative to the grommet. In a secured configuration (438) the stud is relatively lowered with respect to the grommet and the locking element is disengaged from the grommet. In a holdout configuration (600) the stud is relatively raised with respect to the grommet and the locking element is engaged to the grommet.