Zillow (Z) (ZG) split and spinoff

Zillow had a 2 for 1 stock split. Shares received from the split were given as a new class of shares. This transaction can be entered as a stock split, followed by a spinoff transaction in the accounting system.  The information below is based on the information available from Zillow web site. Symbols were changed so the new class C shares took on the old Z ticker symbol. The old class A shares took the new symbol, ZG.

The Stock Split Entry
Go to Transactions > Stock Split  -or- Accounting > Securities > Record stock split depending on the version of the software being used
Here is the information needed to enter this stock split.

  • Company: Zillow (Z)
  • Date: 8/14/2015
  • Split Ratio:  2 for 1
  • Cash for Fractional Shares: See your broker statement.

The Spinoff Entry
Go to Transactions > Spinoff -or- Accounting > Securities > Record spinoff of securities depending on the version of the software being used. If you are unfamiliar with spinoff transactions you can get help at this url: https://www.iclub.com/support/kb/default.asp?page=normal_spinoff
Here is the information you need to complete the spinoff.

  • Date: 8/14/2015
  • Select Parent Security (or Parent Company) : Zillow (Z)
  • Remaining Basis Percentage: 69.53
  • Cash received:  See your broker statement for cash-in-lieu received
  • Spinoff Security (or Symbol of New Company) : Zillow  (ZG)
  •  Shares received : 1 x (#of pre-split Z  shares owned)   (Remember to include fractional shares.)
  • For example, if you owned 100 Z shares, you should receive 1 x 100 = 100 ZG shares.
  • Price Per Share : 23.30 (Opening price on 8/17/2015)

You may wish to change the names of the stocks, since the new Zillow class C shares are using the old Z ticker symbol, while the old Zillow class A shares changed their symbol to ZG. To make sure the names match the ticker symbols:

In Club Accounting 3:

  • Click the SECURITIES heading on the left hand side of the page
  • Find the stock in the list, and double-click it.
  • Change the name or ticker symbol as needed, and click OK

In Club Accounting Online (myiclub.com)

  • When signed in to myiclub.com, click the ACCOUNTING tab near the top of the page.
  • Click the SECURITIES heading on the left hand side of the page.
  • Click either SECURITY SETTINGS on the left hand side of the page, or UPDATE SECURITY SETTINGS near the top of the page.
  • On the security Settings page, click the EDIT link next to the stock you would like to change.
  • On the following page, you can change the Company name, Symbol and other information.
  • Note that there is a box titled Symbol, and a box titled Quote Symbol near the bottom of the page. If you would like the ticker to display a short name on the main accounting page, enter the short name in the Symbol box, and the true ticker symbol in the Quote Symbol box. If not, enter the same ticker symbol in both boxes.
  • Click the SUBMIT button near the bottom right-hand corner of the page to save any changes.