National Oilwell Varco (NOV) spinoff of NOW, Inc (NOW)

On May 30th, 2014 National Oilwell Varco (NOV) completed a spinoff of NOW Inc (NOW). Most clubs saw this show up as of June 2nd, 2014

Information you will need for this spinoff:

Spinoff date - The spinoff happened on May 30th, but most brokers will show June 2nd; we suggest to use the date provided on your broker statement.

Parent Price Per Share, -or- Remaining Basis Fraction of Parent Company - Whenever possible, we suggest to use the Remaining Basis figure, as it is determined ahead of time by the company performing the spinoff. Based on inforamtion from the National Oilwell Varco web site at , the Remaining Basis figure is 89.89177

Shares received in daughter company, including any fractional shares - The spinoff rate was 1 for 4, so simply divide the number of shares of NOV by 4, to show the resulting shares of NOW. Make sure to enter the full number, including any factional shares. Most brokers will automatically sell of factional shares, but they do need to be entered as part of the spinoff.

You may have to calculate the fractional shares. For example, if you owned 39 shares of NOV, the club would have received 9.75 shares of NOW, Inc. In almost all cases, the 0.75 shares would be automatically sold off by the broker, who would then report cash-in-lieu.

Cash received - Check your broker statement for any listing that shows Cash Received, or Cash in Lieu. This will be cash for the automatic sale of fractional shares.

Price per share for NOW, Inc. - This may be listed on your broker statement. If not, you can determine the price based on any cash received; divide the cash received by the fractional shares (ex: if you receive 16.00 for .5 of a factional share, then the price will be 32.00, since 16/.5 = 32) If neither of these works, you can also check the opening price for NOW, Inc from any stock quote provider, (like Keep in mind, doing so will be the least accurate method, since the price per share used in the spinoff is determined by the parent company.