01—Abstract
Summary
Summary of the 8-K filed October 15, 2025. Cited figures are marked; the original filing is the authoritative source.
DuPont de Nemours, Inc. (NYSE: DD) announced on October 15, 2025 that its Board of Directors approved the previously announced tax-free separation of its Electronics business, Qnity Electronics, Inc. ("Qnity").
To effect the separation, the board declared a pro rata dividend of all outstanding Qnity common stock to DuPont stockholders of record as of the close of business on October 22, 2025, with the distribution expected to be paid on November 1, 2025. Stockholders will receive one share of Qnity common stock for every two shares of DuPont common stock held on the record date, with cash paid in lieu of any fractional shares. Following the distribution, DuPont stockholders will own 100%a of Qnity, which will become an independent, publicly traded company.
The filing states that the Qnity Board of Directors also declared a cash dividend of approximately $4.122 billionb, plus a pre-funded interest deposit of approximately $66 million made by DuPont in connection with debt obligations incurred by Qnity, plus any investment returns on amounts held in escrow for those debt obligations, payable to DuPont. The consummation of the separation and distribution remains subject to the satisfaction or waiver of customary conditions, which DuPont expects will be satisfied by the distribution date. Trading mechanics were also disclosed.
The NYSE has authorized the Qnity common stock for listing, with "when-issued" trading (symbol "Q WI") expected to begin October 27, 2025 and end October 31, 2025. Regular-way trading in Qnity under the symbol "Q" is expected to begin November 3, 2025. During October 27 through October 31, 2025, DuPont common stock is expected to trade in two markets: a regular-way market under "DD" (with the right to receive Qnity shares) and an ex-distribution market under "DD WI" (without that right).
02—Key points
Key Highlights
- Board approved the previously announced separation of the Electronics business, Qnity Electronics, Inc., via a pro rata dividend of all Qnity common stock to DuPont stockholders.
- Distribution ratio: one share of Qnity common stock for every two shares of DuPont common stock held as of the October 22, 2025 record date; cash paid in lieu of fractional shares.
- Distribution expected to be paid on November 1, 2025; after the separation, DuPont stockholders will own 100% of Qnity, which becomes an independent, publicly traded company.
- Qnity Board declared a cash dividend of approximately $4.122 billion payable to DuPont, plus a pre-funded interest deposit of approximately $66 million and any investment returns on escrowed amounts.
- NYSE authorized Qnity common stock for listing; "when-issued" trading (Q WI) expected October 27–31, 2025, with regular-way trading under "Q" expected to begin November 3, 2025.
- DuPont stock will trade in two NYSE markets from October 27 through October 31, 2025: regular-way (DD) with the Qnity distribution right, and ex-distribution (DD WI) without it.
- The separation is subject to satisfaction or waiver of customary conditions, which DuPont expects will be met by the distribution date; the separation is intended to be tax-free.
03—Questions
Frequently Asked Questions
How many Qnity shares will DuPont stockholders receive?
Each DuPont stockholder of record as of the close of business on October 22, 2025 will receive one share of Qnity common stock for every two shares of DuPont common stock held on that date. Cash will be paid in lieu of any fractional shares.
When is the Qnity distribution paid and when does Qnity begin trading?
The distribution is expected to be paid on November 1, 2025. When-issued trading under the symbol "Q WI" is expected from October 27 through October 31, 2025, and regular-way trading under the symbol "Q" is expected to begin on November 3, 2025.
What cash payment is Qnity making to DuPont in connection with the separation?
The Qnity Board of Directors declared a cash dividend of approximately $4.122 billion, plus a pre-funded interest deposit of approximately $66 million made by DuPont relating to debt obligations incurred by Qnity, plus any investment returns on amounts held in escrow for those obligations, payable to DuPont.
Do DuPont stockholders need to take any action to receive Qnity shares?
The press release states that no action is required by DuPont stockholders to receive Qnity common stock in the distribution. Stockholders are encouraged to consult their financial and tax advisors regarding the implications of the distribution, including the consequences of buying or selling DuPont stock on or before the distribution date.
How will DuPont shares trade around the distribution date?
From October 27 through October 31, 2025, DuPont common stock is expected to trade in two NYSE markets: a regular-way market under "DD" in which shares carry the right to receive Qnity shares, and an ex-distribution market under "DD WI" in which shares trade without that right. Selling DuPont stock in the regular-way market on or before the last trading day prior to the distribution date means selling the right to receive Qnity shares.
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