FYI: Apple Stock Split# Stock
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Stock Split
Why have you decided to split Apple's stock?
We want Apple stock to be more accessible to a larger number of investors.
Has Apple stock ever split before?
This will be Apple’s fourth stock split since going public. Apple's common
stock split
on a 2-for-1 basis on May 15, 1987, on June 21, 2000 and also on February 18
, 2005.
What is the effective date of the split?
There are several key dates.
The Record Date – June 2, 2014 - determines which shareholders are entitled
to receive additional shares due to the split.
The Split Date – June 6, 2014 - shareholders are due split shares after the
close of business on this date.
The Ex Date - June 9, 2014 - the date determined by NASDAQ when Apple common
shares will trade at the new split-adjusted price.
How does a 7-for-1 stock split actually work?
A 7-for-1 split means that six additional shares of stock are issued for
each share in existence on the Record Date, June 2, 2014.
Here’s an example:
Let’s assume that as of the Record Date (June 2, 2014) an investor owns 100
shares of Apple common stock and that the market price of Apple stock is $
490 per share, so that the investment in Apple is worth $49,000. Let’s also
assume that Apple’s stock price doesn’t move up or down between the
Record Date and the time the split actually takes place. Immediately after
the split, the investor would own 700 shares of Apple stock, but the market
price would be $70 per share instead of $490 per share. The investor’s
total investment value in Apple would remain the same at $49,000 until the
stock price moves up or down.
Are there any personal income tax consequences as a result of the stock
split?
There will be no U.S. taxable income to U.S. residents as a result of the
stock split. The tax basis of each share owned after the stock split will be
1/7th the amount it was before the split. For example, if you owned 100
shares before the split with a tax basis of $70 per share, after the split
you would own 700 shares of stock with a tax basis of $10 per share. Foreign
residents should consult their local tax advisors.
How will I receive the split shares?
If you hold shares in a brokerage account, the additional shares to reflect
the split will be deposited into your account in the days following the
Split Date (June 6, 2014). Contact your broker if you have any questions
regarding timing. If you have a share certificate or hold your shares
directly with Apple’s transfer agent, Computershare Investor Services, the
post-split shares will be deposited in a book-entry position and
Computershare will mail you a statement indicating the number of shares that
you own following the split. We will not be issuing new share certificates.
If you have a physical stock certificate, there is no need to return it.
You will be credited the split number of shares in a book-entry position.
Why have you decided to split Apple's stock?
We want Apple stock to be more accessible to a larger number of investors.
Has Apple stock ever split before?
This will be Apple’s fourth stock split since going public. Apple's common
stock split
on a 2-for-1 basis on May 15, 1987, on June 21, 2000 and also on February 18
, 2005.
What is the effective date of the split?
There are several key dates.
The Record Date – June 2, 2014 - determines which shareholders are entitled
to receive additional shares due to the split.
The Split Date – June 6, 2014 - shareholders are due split shares after the
close of business on this date.
The Ex Date - June 9, 2014 - the date determined by NASDAQ when Apple common
shares will trade at the new split-adjusted price.
How does a 7-for-1 stock split actually work?
A 7-for-1 split means that six additional shares of stock are issued for
each share in existence on the Record Date, June 2, 2014.
Here’s an example:
Let’s assume that as of the Record Date (June 2, 2014) an investor owns 100
shares of Apple common stock and that the market price of Apple stock is $
490 per share, so that the investment in Apple is worth $49,000. Let’s also
assume that Apple’s stock price doesn’t move up or down between the
Record Date and the time the split actually takes place. Immediately after
the split, the investor would own 700 shares of Apple stock, but the market
price would be $70 per share instead of $490 per share. The investor’s
total investment value in Apple would remain the same at $49,000 until the
stock price moves up or down.
Are there any personal income tax consequences as a result of the stock
split?
There will be no U.S. taxable income to U.S. residents as a result of the
stock split. The tax basis of each share owned after the stock split will be
1/7th the amount it was before the split. For example, if you owned 100
shares before the split with a tax basis of $70 per share, after the split
you would own 700 shares of stock with a tax basis of $10 per share. Foreign
residents should consult their local tax advisors.
How will I receive the split shares?
If you hold shares in a brokerage account, the additional shares to reflect
the split will be deposited into your account in the days following the
Split Date (June 6, 2014). Contact your broker if you have any questions
regarding timing. If you have a share certificate or hold your shares
directly with Apple’s transfer agent, Computershare Investor Services, the
post-split shares will be deposited in a book-entry position and
Computershare will mail you a statement indicating the number of shares that
you own following the split. We will not be issuing new share certificates.
If you have a physical stock certificate, there is no need to return it.
You will be credited the split number of shares in a book-entry position.