RESIDEO TECHNOLOGIES, INC. REZI → ADI GLOBAL DISTRIBUTION INC. ADIG
| Parent | RESIDEO TECHNOLOGIES, INC. REZI |
|---|---|
| Spinco | ADI GLOBAL DISTRIBUTION INC. ADIG |
| Status | Completed |
| Structure | Spin-off A filing states a pro-rata distribution: holders receive shares automatically. |
| Focus | Focus-increasing Parent and spinco operate in different industries — the class the research associates with stronger post-separation returns. |
| Ratio | 1 ADI Global share for every 2 Resideo shares |
| Checked against EDGAR | 2026-08-21 |
Data trap
Resideo reported ADI Global Distribution as a segment until the August 3, 2026 separation, and ADI is by far the larger revenue line of the two. Any REZI revenue figure carried across the separation date overstates the continuing products business by roughly the size of a distribution business; ADI's own standalone numbers begin with its 10-Q filed 2026-08-13.
The restated filings have landed; this is kept as history.
Catalyst clock
- 2025-07-30Separation announced
- 2026-05-11Form 10 filed
- 2026-07-01Form 10 last amended
- 2026-07-07Form 10 effective
- 2026-07-20Record date
- —When-issued trading opens
- 2026-08-03Distribution
- —First standalone earnings
- —Index inclusion announced
Performance since separation
| ADI GLOBAL DISTRIBUTION INC. since separation | -4.00% |
|---|---|
| RESIDEO TECHNOLOGIES, INC. over the same window | -19.56% |
| S&P 500 (SPY) over the same window | +1.06% |
| Russell 2000 (IWM) over the same window | +1.26% |
| Excess over the S&P 500 | -5.06% |
| Excess over the Russell 2000 | -5.26% |
Measured from the first regular-way close on or after the distribution — 2026-08-04 at 22.00 — to 2026-08-21 at 21.12. Window: 18 days. That is a short window. Treat it as a fact about these few weeks, not as evidence about how the separation turns out. The 2026-08-03 session was skipped: it traded on when-issued volume, not regular-way, and pricing from it would measure the return against a market that no longer existed the next day. Two benchmarks, because one is misleading: spin-offs are usually small companies, and across this period small caps lagged the S&P by several points a year on their own. Measured against the S&P alone, roughly a third of any shortfall is company size rather than the separation. Returns are arithmetic over end-of-day closing prices. Unlike every other figure on this page, they do not come from a filing.
Pre-distribution investor return
| Parent, announcement to separation | +20.20% |
|---|---|
| Combined (RESIDEO TECHNOLOGIES, INC. + ADI GLOBAL DISTRIBUTION INC.), pre-distribution to now | +29.21% |
| Combined excess over the S&P 500 | +26.71% |
| Combined excess over the Russell 2000 | +26.20% |
Combined treats a pre-spin holding as 1 ADI Global share for every 2 Resideo shares valued at the parent's last close before regular post-spin trading resumed — 2026-07-31 at 23.86 — against that same basket today. That baseline is a practical proxy, not an attempt to isolate exactly how much value the separation transferred: for a large parent and a small spinco, ordinary day-to-day price noise can be bigger than the transfer itself. Run-up measures only the parent's own price, from the announcement date to that same baseline — how far the market had already moved before the separation's mechanics ever happened.
Filings
Every fact on this page comes from one of these.
- 10-12Bfiled 2026-05-11 · 0001213900-26-054148Initial Form 10 registration statement for the ADI Global Distribution business
- 10-12B/Afiled 2026-07-01 · 0001213900-26-074253Amendment No. 3; the Resideo board approved the distribution the same day
- SEC STAFF ACTIONfiled 2026-07-07 · 9999999997-26-001163SEC order declaring the Form 10 effective — the only filing that dates effectiveness for this deal
- 8-Kfiled 2026-07-14 · 0001213900-26-077774Investor day materials confirming the separation remained on track for August 3, 2026
- 8-Kfiled 2026-08-04 · 0001213900-26-084882Separation agreements executed July 31; states the distribution was completed on August 3, 2026
- 10-Qfiled 2026-08-13 · 0001628280-26-056748First standalone quarterly report
Notes
Resideo separated its ADI Global Distribution business, keeping Products & Solutions. Classified focus-increasing: a wholesale distributor and a manufacturer of smart-home and security products are different businesses, even though EDGAR reports both legs under SIC 5072 — the parent's self-reported code is a good example of why this field is judged from filings rather than derived. When-issued trading was described only as beginning 'as early as three trading days prior to the distribution date', with no calendar date stated, so when_issued_start is null. Form 10 effectiveness is dated from the SEC staff order of July 7, 2026.