NYLD Stock Split FAQs
The split was effective after market close on May 14, 2015. The “split” refers to the creation of Class C (held by the public) and Class D (held by NRG) Shares.
Since this was not a dividend, there is no “ex date.” This is structured as a stock split, which was effective after market closes on May 14, 2015. The new Class C common stock began trading on the NYSE at the open of business on May 15, 2015. The ticker “NYLD.A” now represents Class A shares while “NYLD” represents Class C shares.
No, shares will trade independently following open on May 15, 2015.
Par value for both is $0.01.
As Class A shares were the actively traded NYLD public shares prior to the stock split, historical data can be found under the NYLD.A ticker symbol.
No, this is not a taxable event for NYLD holders.
Yes. The holders of Class A common stock and Class C common stock will share ratably in all dividends as may be declared by our Board in respect of our outstanding common stock.
In connection with the stock split, NRG Yield announced an adjustment to the conversion rate of its 3.50% Convertible Senior Notes due 2019 (the “Notes”). The new conversion rate is 42.9644 shares of Class A common stock per $1,000 principal amount of Notes, and was effective immediately after the opening of business on May 15, 2015. The initial conversion rate was adjusted pursuant to Section 11.05(c)(i) of the indenture governing the Notes and effectively doubled to reflect the split. Notice of the conversion rate adjustment has been delivered to the holders of the Notes.
Please refer to the SEC Filings and Press Release sections of the NYLD Investor site.
Yes. IRS Form 8937 and the attachment to Form 8937 can be found here.