Motorola will complete the separation of Motorola Mobility from the company on 04 January. The directors approved the separation, through a tax-free dividend involving the distribution of all Motorola Mobility common stock held by Motorola to Motorola stockholders. Distribution will take place before market open on 4 January. Motorola shareholders will receive one Motorola Mobility share for every eight Motorola shares. Immediately following the distribution of Motorola Mobility shares, Motorola will effect a 1-for-7 reverse stock split of Motorola common stock, which will become effective before market open on 4 January. On that date, Motorola will change its name to Motorola Solutions, and will begin trading on the New York Stock Exchange (NYSE). Motorola Mobility will also begin trading on the NYSE.
