Form 4: DuPont Completes Qnity Spin-Off, Distributes Shares

DuPont de Nemours, Inc. has completed the separation of Qnity Electronics, Inc., distributing all Qnity common stock to its shareholders.

Summary

• DuPont de Nemours, Inc. completed the separation of Qnity Electronics, Inc. on November 1, 2025.
• DuPont distributed 100% of Qnity's issued and outstanding common stock to its stockholders.
• DuPont stockholders received one share of Qnity common stock for every two shares of DuPont common stock held as of the close of business on October 22, 2025.
• Prior to the distribution, on September 30, 2025, DuPont reported owning 100% of Qnity's outstanding shares, which totaled 100 shares at that time.
• A recapitalization occurred on October 31, 2025, where the 100 shares of Qnity common stock were automatically converted into an aggregate of 209,443,778 shares.
• This recapitalization was exempt pursuant to Rules 16a-9 and 16b-7 under the Exchange Act and did not result in a change in DuPont's pecuniary interest in Qnity's securities.
• Following the distribution, DuPont de Nemours, Inc. no longer beneficially owns any shares of Qnity Electronics, Inc.

Sentiment

Score: 7

Explanation: The filing reports the completion of a planned corporate spin-off, which is a neutral event in terms of immediate financial performance but signifies the successful execution of a strategic initiative.

Positives

• DuPont successfully completed the planned corporate separation of Qnity Electronics, Inc.
• Qnity Electronics, Inc. is now an independent publicly traded entity, allowing for focused strategic development.

Negatives

• DuPont de Nemours, Inc. no longer holds any beneficial ownership in Qnity Electronics, Inc. following the distribution.

Future Outlook

NA

Management Comments

• The recapitalization was exempt pursuant to Rules 16a-9 and 16b-7 under the Exchange Act and did not result in a change in the pecuniary interest of DuPont in the Issuer's securities, as stated by Erik T. Hoover, Senior Vice President and General Counsel.

Industry Context

This spin-off allows Qnity Electronics to operate as an independent entity, potentially enabling more focused strategic development within the electronics sector, while DuPont de Nemours, Inc. streamlines its portfolio. Such corporate separations are common strategies to enhance shareholder value by creating two distinct companies with clearer investment theses.

Stakeholder Impact

• Shareholders of DuPont: Received shares of Qnity Electronics, Inc., potentially gaining exposure to a new, independent company.
• Shareholders of Qnity Electronics, Inc.: Now hold shares in a standalone public company, subject to its own market dynamics and strategic direction.
• DuPont de Nemours, Inc.: Streamlined its corporate structure by divesting Qnity, allowing for greater focus on its core operations.
• Qnity Electronics, Inc.: Gained independence, enabling it to pursue its own strategic objectives and capital allocation.

Next Steps

• Qnity Electronics, Inc. will continue to operate as an independent publicly traded company.
• DuPont de Nemours, Inc. will continue to focus on its core businesses following the divestiture.

Key Dates

Keywords

DuPont, Qnity Electronics, Spin-off, Distribution, SEC Form 4, Beneficial Ownership, Recapitalization, Equity Distribution