Adeia Inc. ADEA → Xperi Inc. XPER
| Parent | Adeia Inc. ADEA |
|---|---|
| Spinco | Xperi Inc. XPER |
| 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 | 4 Xperi Inc. shares for every 10 Xperi Holding shares |
| Ratio note | Holders of record held Xperi Holding Corporation stock, which renamed itself Adeia and moved to the ticker ADEA. |
| Checked against EDGAR | 2026-08-22 |
Data trap
The XPER ticker moved between two companies and two exchanges at once. Before the separation XPER was the parent, Xperi Holding Corporation, on Nasdaq; afterwards it is the spinco, Xperi Inc., on the NYSE, while the parent trades as ADEA. Any series keyed on XPER without regard to the date splices a Nasdaq parent onto an NYSE spinco. The distribution date, October 1, 2022, was also a Saturday, so no price exists on it. The information statement carries an internal typo in its share estimate — 41,701,171 in one section against 41,707,171 in another — and the actual figure issued was 42,023,632. No filing establishes a discrete announcement date, so that field is null.
The restated filings have landed; this is kept as history.
Catalyst clock
- —Separation announced
- 2022-08-26Form 10 filed
- 2022-09-14Form 10 last amended
- 2022-09-19Form 10 effective
- 2022-09-21Record date
- —When-issued trading opens
- 2022-10-01Distribution
- 2022-11-08First standalone earnings
- —Index inclusion announced
Performance since separation
| Xperi Inc. since separation | -58.25% |
|---|---|
| Adeia Inc. over the same window | +265.09% |
| S&P 500 (SPY) over the same window | +108.87% |
| Russell 2000 (IWM) over the same window | +77.19% |
| Excess over the S&P 500 | -167.12% |
| Excess over the Russell 2000 | -135.44% |
Measured from the first regular-way close on or after the distribution — 2022-10-03 at 14.97 — to 2026-08-21 at 6.25. Window: 3.9 years. 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 | no announcement date on file |
|---|---|
| Combined (Adeia Inc. + Xperi Inc.), pre-distribution to now | +668.72% |
| Combined excess over the S&P 500 | +554.34% |
| Combined excess over the Russell 2000 | +586.84% |
Combined treats a pre-spin holding as 4 Xperi Inc. shares for every 10 Xperi Holding shares valued at the parent's last close before regular post-spin trading resumed — 2022-09-30 at 3.74 — 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.
Filings
Every fact on this page comes from one of these.
- 10-12Bfiled 2022-08-26 · 0001193125-22-231416Initial Form 10 registration statement
- 10-12B/Afiled 2022-09-14 · 0001193125-22-244725Final amendment; Ex-99.1 information statement carries the 4-for-10 ratio and the September 21 record date
- 8-Kfiled 2022-10-06 · 0001193125-22-258604Completion: distribution made October 1, 2022; Adeia retained no interest
- 10-Qfiled 2022-11-14 · 0000950170-22-025010First periodic report; 42,023,632 shares distributed
- 8-Kfiled 2022-11-08 · 0000950170-22-023220Item 2.02 first results release as an independent company
Notes
Xperi Holding's separation of its product business, with the remaining intellectual-property licensing company renaming itself Adeia. Left unclassified: EDGAR files the parent under cable and pay television services and the spinco under prepackaged software, codes that describe neither company especially well and cannot support a focus judgement. Classified focus_increasing: the split is by business model, not just technology domain — Adeia (parent, renamed) keeps the pure patent-licensing estate (semiconductor patents plus a majority of media/imaging patents), while Xperi Inc. (spinco) keeps the product/software business (Pay-TV, consumer electronics, connected car) along with the specific patents tied to those product lines (audio/HD Radio/DTS, Perceive). The board's first-listed rationale is explicitly 'Increased Management Focus on Core Business and Distinct Opportunities.' No leveraged dividend — Xperi Inc. carries only a pre-existing $50 million note from an unrelated 2022 acquisition (Vewd).