Stock Splits and Spinoffs

Stock Splits and Spinoffs

Stock Splits

Ford Motor Company was founded by Henry Ford and incorporated in Michigan on June 16, 1903. The corporation's common stock was entirely owned by Henry Ford and a small group of local investors.

In 1919, Henry Ford bought out all of these investors and reincorporated the company in the State of Delaware. From 1919 to 1956, all stock in the company was owned by members of the Ford Family, the Edison Institute, and the Ford Foundation.

First offered to the public on January 18, 1956, when the Ford Foundation began to sell its stock in the company. The price was $64.50 per share.

The stock first traded on the New York Stock Exchange on March 7, 1956. The stock "split" six times since it was issued. The splits and their payment dates, which appear on the actual certificates, were

May 31, 1962: 2 for 1

May 24, 1977: 5 for 4

December 1, 1983: 3 for 2

June 2, 1986: 3 for 2

January 12, 1988: 2 for 1

July 5, 1994: 2 for 1

"Old" Ford Motor Company common stock was replaced by "new" Ford common stock, based on the Value Enhancement Plan recapitalization of the company which occurred on August 2, 2000.

Shareholders, electing to receive ALL "new" stock in exchange for their "old" stock, received 1.748175 shares of "new" stock in exchange for each share of their "old" stock.

Shareholders electing to receive the PRO RATA election of "new" stock in exchange for their "old" stock received 1.554593 shares of "new" stock in exchange for each share of their "old" stock.

Stock Spinoffs

Ford Motor Company has spun-off to Common and Class B shareholders its holdings in two former subsidiaries:

• Spun-off on April 7, 1998 to holders of record on March 12, 1998.
• Shareholders received .262085 shares of The Associates stock for each share of Ford Motor Company Common or Class B stock.
• Ford shareholders were instructed to allocate 33.59% of their basis in Ford Common and Class B stock to The Associates stock they received.
• The remaining 66.41% of their basis remained with their Ford Common or Class B stock.

• Spun-off on June 28, 2000 to holders of record on June 12, 2000.
• Shareholders received .130933 shares of Visteon stock for each share of Ford Motor Company Common or Class B stock.
• Ford shareholders were instructed to allocate 3.93% of their adjusted basis in Ford Common and Class B stock to the Visteon stock they received.
• The remaining 96.07% of their adjusted basis remained with their Ford Common or Class B stock.