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On October 1, 2012 (the "distribution date"), Kraft Foods Inc. completed the spin-off of Kraft Foods Group, Inc. (the North American grocery business) through a pro rata dividend of all outstanding shares of Kraft Foods Group, Inc. common stock to Kraft Foods Inc. shareholders of record on the record date. On the distribution date, each Kraft Foods Inc. shareholder received one share of Kraft Foods Group, Inc. common stock for every three shares of Kraft Foods Inc. common stock owned on the record date.
Kraft Foods Inc. also changed its name to Mondelēz International, Inc. on October 1, 2012. Beginning on October 2, 2012, Mondelēz International, Inc. began trading on The NASDAQ Global Select Market under the ticker symbol (“MDLZ”). The “KFT” ticker has been retired. There is no action required on your part with respect to the shares of Mondelēz International, Inc. common stock that you hold.
Therefore, immediately post-spin, you owned 1 share of Mondelēz International, Inc. (MDLZ) and .33 shares of Kraft Foods Group, Inc. (KRFT) for every share of Kraft Foods Inc. (KFT) that you previously owned. In addition, you received cash in lieu of any fractional shares of KRFT.