Spin-off

Detail	Value
Type	spin_off
Category	basis
Ledger treatment	Basis allocation

#What we detect

A multiplier increase matching a standing SpinOff record. xStocks never deliver the new company's shares: they sell them and reinvest the proceeds into the parent.

#Evidence required

• A standing record matching both multipliers and the activation time.
• The multiplier increases.
• Issuer proceeds, when published, must imply a parent price within ×3 of the median implied by the same asset's dividends.

#When evidence is missing or conflicts

• The multiplier does not increase: unclassified. Only distributions reinvested into the parent are supported.
• No proceeds published: booked from the multipliers alone, with a warning.
• Implausible proceeds: booked, with proceeds null and a warning.

#How it is booked

Basis allocation. The distributed share of the position's value is exactly (M_new − M_old) ÷ M_new, with no price needed. The added units are principal carrying allocated basis. The floor scales with the multiplier. Zero income; nothing newly convertible.

#In practice

GMEx, HONx ×2, DFDVx, OPENx and CMCSAx. Four are labelled "Dividend" and two "Administrative"; four of the six raise the multiplier less than the largest cash dividend (+2.93%).

#In the API

• v2: type: "spin_off", treatment: "basis_allocation", with validation, the lifecycle and the evidence on GET /v2/actions/{id}.
• v1: shown as unclassified_adjustment, with the treatment stated in reasons and headline.