Attention, those of you who own Pfizer Inc. (PFE): PFE has completed a spinoff of a new company, Viatris Inc. (VTRS). More information on the spin-off can be found here. As part of this spinoff, holders of PFE stock will receive 0.124079 shares of VTRS for every 1 share of PFE owned on the date of record, November 13th, 2020.
Please note: calls that were sold against PFE last month stand a good chance of being exercised at present. If this does occur at options expiration on November 20th, the shares of VTRS that you presently own will be called away as well, and no further action will be needed on your part.
On November Trade Day, if you still own shares of PFE and VTRS, you will sell any remaining shares of VTRS and apply the proceeds to your Stake as a dividend.
Lattco PRO/AutoPilot Clients: Please sell your extra shares of VTRS first thing Monday morning. Once the shares are sold please contact us, and we will adjust your account for you.
If you have any questions, please don’t hesitate to contact us at support@snideradvisors.com or 1-888-6-SNIDER. We’ll be happy to walk you through the process.
