Corteva, Inc. filed a current report on September 15, 2026, disclosing that its board of directors approved the spin-off of its seed operating segment into a new independent, publicly traded company called Vylor, Inc., with a distribution record date of September 24, 2026, and an expected distribution completion date of October 1, 2026.

Key Highlights

  • Board approval: Corteva's board of directors approved the separation of its seed operating segment on September 12, 2026.
  • Distribution ratio: Each Corteva stockholder of record as of the record date will receive one share of Vylor Common Stock for every share of Corteva common stock held.
  • Record date: The record date for the distribution is the close of business on September 24, 2026.
  • Expected distribution: The distribution is expected to be completed prior to 9:30 a.m., New York City time, on October 1, 2026.
  • Vylor trading symbol: Vylor Common Stock is expected to begin "when-issued" trading on the NYSE under "VYLR WI" on September 25, 2026, and regular-way trading under "VYLR" on October 1, 2026.
  • Tax treatment: The spin-off is intended to be tax-free to Corteva stockholders for U.S. federal income tax purposes, except for any cash received in lieu of fractional shares.
  • Fractional shares: Corteva will not distribute fractional shares of Vylor Common Stock; stockholders will instead receive cash in lieu of any fractional entitlements.

Corteva Separates Seed Segment Into Independent Publicly Traded Company

According to the filing, Corteva, Inc. (NYSE:CTVA) disclosed that its board of directors declared a pro rata dividend of all issued and outstanding shares of Vylor Common Stock, par value $0.01 per share, to Corteva stockholders as of the record date of the close of business on September 24, 2026. The separation targets Corteva's seed operating segment, which will become the business base of Vylor, Inc. as a standalone, publicly traded entity. Immediately following completion of the spin-off, Corteva stockholders of record as of the record date will own all of the issued and outstanding shares of Vylor Common Stock.

The filing further disclosed that, beginning September 25, 2026 through September 30, 2026, two markets in Corteva common stock are expected to operate on the NYSE simultaneously: a regular-way market under the symbol "CTVA," in which shares will trade with an entitlement to receive Vylor shares, and an ex-distribution market under the symbol "CTVA WI," in which shares will trade without that entitlement. According to the filing, Vylor, Inc. filed Amendment No. 2 to the Registration Statement on September 15, 2026, which the filing states provides detailed information on Vylor's business, strategy, and historical financial results. The consummation of the spin-off is subject to the satisfaction or waiver of certain conditions, as described in the information statement attached to Amendment No. 2 filed by Vylor.

The filing notes that the forward-looking statements it contains, including expectations regarding the separation's timing, structure, and completion, reflect management's current expectations and "are not guarantees of future performance and are subject to a number of risks and uncertainties, many of which are difficult to predict and beyond Corteva's and Vylor's control." Corteva and EIDP, Inc. are co-registrants on this filing, with EIDP, Inc. listing $3.50 Series Preferred Stock under the symbols CTAPrA and CTAPrB on the NYSE.

What Was Disclosed

Corteva disclosed its board's approval of the spin-off of its seed operating segment into Vylor, Inc., including the distribution record date, the one-for-one share distribution ratio, the expected October 1, 2026 distribution date, NYSE trading symbols, and the intended tax-free treatment of the transaction for U.S. federal income tax purposes.