What happened to PALL’s net asset value per share after the split?

Net asset value per share was mechanically reduced from $128.69 to $25.74 following the 5-for-1 split. This adjustment reflects the higher number of shares outstanding while keeping the overall net asset value of the ETF unchanged for investors collectively.

abrdn Palladium ETF completes 5-for-1 share split

Q: How did the PALL share count change after the 5-for-1 split?

The share count increased from 6,112,500 to 30,562,500 after the split. Every pre-split share was automatically exchanged for five post-split shares, multiplying the number of shares outstanding while keeping total fund value the same.

abrdn Palladium ETF Trust implemented a 5-for-1 forward split of the abrdn Physical Palladium Shares ETF before the open of trading on May 18, 2026.

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

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How Sentiment works How the balance works

Form Type

8-K

Rhea-AI Filing Summary

abrdn Palladium ETF Trust implemented a 5-for-1 forward split of the abrdn Physical Palladium Shares ETF before the open of trading on May 18, 2026. The post-split shares began trading the same day under the unchanged ticker PALL.

Each pre-split share held at the close of markets on May 14, 2026 was automatically exchanged for five post-split shares. Immediately before the split, there were 6,112,500 shares outstanding, each with a net asset value of $128.69. After the split, shares outstanding increased to 30,562,500 and net asset value per share was adjusted to $25.74, leaving total fund value unchanged.

Insights

The 5-for-1 split increases PALL’s share count while keeping overall fund value unchanged.

The trust carried out a 5-for-1 forward split of the abrdn Physical Palladium Shares ETF effective before trading on May 18, 2026. Each pre-split share was exchanged for five new shares, which began trading that day under the same ticker and CUSIP.

Outstanding shares rose from 6,112,500 to 30,562,500, while net asset value per share adjusted from $128.69 to $25.74. This kind of mechanical change redistributes value across more shares but does not alter the aggregate net asset value of the ETF.

Because the split is purely structural and does not change the underlying palladium exposure or total fund value, it is generally viewed as an administrative action rather than a shift in the investment case.

8-K Event Classification

Item 8.01 — Other Events

1 item

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Key Figures

Split ratio: 5-for-1 Shares outstanding pre-split: 6,112,500 shares Shares outstanding post-split: 30,562,500 shares +4 more

7 metrics

Split ratio 5-for-1 Forward split effective before trading on May 18, 2026

Shares outstanding pre-split 6,112,500 shares Immediately prior to the split

Shares outstanding post-split 30,562,500 shares Immediately after the split

NAV per share pre-split $128.69 Net asset value per share immediately prior to the split

NAV per share post-split $25.74 Net asset value per share immediately after the split

Effective trading date May 18, 2026 Post-split shares began trading on NYSE Arca

Record date for split May 14, 2026 Pre-split shares held at market close were exchanged

Key Terms

forward split, net asset value, emerging growth company, shares issued and outstanding

4 terms

forward split financial

"effected a 5-for-1 forward split (the “Split”) of the abrdn Physical Palladium Shares ETF"

A forward split increases the number of a company’s shares by exchanging each existing share for multiple new shares, so each investor owns more pieces while their overall ownership stake and the company’s value stay the same. Think of cutting a pizza into more slices: each slice is smaller but you still have the same total; for investors this lowers the per‑share price, can make the stock feel more affordable, and often boosts trading activity and accessibility.

net asset value financial

"each representing a net asset value (“NAV”) of $128.69"

Net asset value is the total value of an investment fund's assets minus any liabilities, divided by the number of shares or units outstanding. It represents the per-share worth of the fund, similar to how the value of a house is determined by its total worth after debts are subtracted. Investors use it to gauge the true value of their holdings and to compare different investment options.

emerging growth company regulatory

"Emerging growth company"

An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.

shares issued and outstanding financial

"Immediately prior to the Split, there were 6,112,500 Shares issued and outstanding"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What corporate action did ABRDN ETF TRUST (PALL) report on May 18, 2026?

ABRDN ETF TRUST reported a 5-for-1 forward split of the abrdn Physical Palladium Shares ETF. The split took effect before trading on May 18, 2026 and applied to all shares held at the close on May 14, 2026.

Did the PALL ticker or CUSIP change due to the forward split?

The ticker and CUSIP did not change as a result of the split. The filing states that the forward split did not affect the shares’ CUSIP number or the ticker symbol PALL, so trading continues under the same identifiers as before.

When did post-split PALL shares begin trading on NYSE Arca?

Post-split shares began trading on May 18, 2026 on NYSE Arca. The split was effective prior to the open of trading that day, so all trading on that date reflected the new share count and adjusted net asset value per share.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/18/2026 - 04:40 PM EDT

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 18, 2026

ABRDN PALLADIUM ETF TRUST
(Exact name of registrant as specified in its charter)

New York		001-34589		26-4733157
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

c/o abrdn ETFs Sponsor LLC 1900 Market Street, Suite 200 Philadelphia PA		19103
(Address of Principal Executive Offices)		(Zip Code)

(844) 383-7289

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
abrdn Physical Palladium Shares ETF	PALL	NYSE Arca

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR § 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR § 240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events.

On May 18, 2026, prior to the open of trading on NYSE Arca, Inc., abrdn Palladium ETF Trust (the “Registrant”) effected a 5-for-1 forward split (the “Split”) of the abrdn Physical Palladium Shares ETF (the “Shares”) issued by the Registrant. The post-Split Shares began trading on May 18, 2026. The Registrant previously announced the Split in its press release dated April 22, 2026. As a result of the Split, every pre-Split Share held of record as of the close of the markets on May 14, 2026 was automatically exchanged for five post-Split Shares. Immediately prior to the Split, there were 6,112,500 Shares issued and outstanding, each representing a net asset value (“NAV”) of $128.69. Immediately after the Split, the number of issued and outstanding Shares increased to 30,562,500, and the NAV per Share decreased to $25.74. The Split did not affect the Shares’ CUSIP number or ticker symbol (PALL).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	ABRDN PALLADIUM ETF TRUST

	By: abrdn ETFs Sponsor LLC, Sponsor of the abrdn Palladium ETF Trust

Date: May 18, 2026	By:	/s/ Sharon Ferrari
		Sharon Ferrari Chief Financial Officer and Treasurer*

The Registrant is a trust and Ms. Ferrari is signing in her capacities as officer of abrdn ETFs Sponsor LLC, the Sponsor of the Registrant.

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

3 documents

abrdn Palladium ETF completes 5-for-1 share split

Rhea-AI Filing Summary