Corteva (NYSE: CTVA) announced its board of directors has approved the separation of its seed operating segment into an independent, publicly traded company called Vylor Inc., which will trade on the New York Stock Exchange under the ticker symbol "VYLR."

Corteva stockholders of record as of the close of business on September 24, 2026, will receive one share of Vylor common stock for every share of Corteva common stock held. The distribution is expected to occur before 9:30 a.m. New York City time on October 1, 2026. Stockholders will receive cash in lieu of fractional shares.

The distribution is intended to be tax-free for U.S. federal income tax purposes, except for any cash received in lieu of fractional shares. Existing Corteva stockholders do not need to take any action to receive their Vylor shares.

Vylor common stock is expected to begin "when-issued" trading on the NYSE under the symbol "VYLR WI" on September 25, 2026, through September 30, 2026. Regular-way trading under "VYLR" is expected to begin October 1, 2026.

Between September 25 and September 30, 2026, Corteva shares will trade in two markets on the NYSE: a regular-way market under "CTVA" and an ex-distribution market under "CTVA WI."

Corteva is scheduled to host an Investor Day webcast on September 15, 2026, in two parts. At 9:00 a.m. EDT, the company will present Vylor as a standalone public company, and at 1:00 p.m. EDT, it will outline its future direction following the separation. The distribution remains subject to the satisfaction of certain customary conditions.