Vylor Inc. (VYLR) completed an exchange of EIDP, Inc. senior notes and issued $1,438,218,000 aggregate principal amount of Vylor senior notes on October 1, 2026. EIDP notes accepted for exchange were $434,839,000 due 2030, $476,214,000 due 2032 and $527,584,000 due 2033; those notes were retired and canceled. After settlement, EIDP had $65,161,000, $23,786,000 and $72,416,000 outstanding in those series, respectively.
Vylor's new 2030, 2032 and 2033 notes carry annual interest rates of 2.300%, 5.125% and 4.800%, respectively, and mature on July 15, 2030, May 15, 2032 and May 15, 2033. They are senior unsecured obligations and are not guaranteed by any other person. Vylor agreed to use commercially reasonable efforts to file a registration statement for an exchange offer or a shelf registration statement for resale, and to complete the exchange offer within 366 days from the Settlement Date.
Vylor Inc. completed its separation from Corteva on October 1, 2026, becoming an independent, publicly traded company. Corteva subsidiary EIDP contributed all of Pioneer Hi-Bred International’s issued and outstanding capital stock to Vylor in exchange for 667,302,930 Vylor common shares, a cash distribution of approximately $761 million subject to certain adjustments, and Vylor’s assumption of a portion of EIDP’s notes through private exchange offers. Corteva distributed the shares pro rata to stockholders of record on September 24, 2026.
On October 1, Pioneer borrowed $1,578 million under Vylor’s five-year revolving facility and $1,500 million under its 364-day facility, then used the proceeds to repay $3,078 million under the PHI Bilateral Facility, which ceased to be effective. Vylor’s revolving facilities have aggregate principal amounts of $3,000 million and $1,500 million. Its board expanded to seven members, with Karen H. Grimes as chair. Charles V. Magro became CEO, David P. Johnson continued as CFO, and Judd M. O’Connor became chief commercial and operations officer. The board also adopted incentive, employee stock purchase, severance and deferred-compensation plans; the management plan permits eligible employees to defer up to 60% of base salary and short-term incentive awards, with benefits constituting unfunded, general unsecured obligations of Vylor.
Vylor Inc. Chief Technology Officer Samuel R. Eathington reported acquisitions connected to Vylor’s October 1, 2026 spin-off from Corteva. After the transactions, he reported 152,325 shares of Vylor common stock directly and 4,384 shares indirectly through a Family Trust. The directly held amount includes spin-off-related stock, restricted stock units and dividend equivalent units; Eathington received one Vylor share for each Corteva common share he held.
Five groups of Corteva stock options were converted into Vylor options, covering 21,045, 15,616, 17,969, 27,974 and 14,728 underlying shares, with respective exercise prices of $45.00, $57.22, $48.25, $40.08 and $55.29. The groups covering 21,045, 27,974 and 14,728 shares were vested and exercisable. In the other two groups, 5,205 of 15,616 and 11,978 of 17,969 options were vested and exercisable; the remaining options will vest in two installments on February 18, 2027 and February 18, 2028, and on February 20, 2027, respectively.
Vylor Inc. Chief Commercial and Operation Judd M. O'Connor reported acquiring 92,769 common shares directly and 261 shares indirectly through a 401(k) on October 1, 2026. The direct amount includes Vylor shares received in the Corteva spin-off, restricted stock units and dividend equivalent units.
Five Corteva-originated stock-option awards were converted into Vylor options: 9,713 at a $45.00 exercise price, 11,357 at $57.22, 8,386 at $48.25, 23,151 at $40.08 and 6,312 at $55.29 per share. Of the 11,357 options, 3,785 are vested and exercisable; the remaining options vest in two equal installments on February 18, 2027 and February 18, 2028. Of the 8,386 options, 5,591 are vested and exercisable; the remaining options vest on February 20, 2027. The other three option awards are vested and exercisable.
Vylor Inc. director Marcos M. Lutz acquired 63,142 shares of Vylor common stock on October 1, 2026, and directly held 63,142 shares after the transaction. The amount includes Vylor stock received in connection with Vylor’s spin-off from Corteva, including restricted stock units and dividend equivalent units.
Karen H. Grimes, a director of Vylor Inc. (VYLR), acquired 18,300 common shares on October 1, 2026, in connection with Vylor’s spin-off from Corteva. The reported amount includes Vylor common stock received in the spin-off, including restricted stock units and dividend equivalent units. Corteva-denominated equity awards were adjusted in part into Vylor-denominated awards.
Vylor Inc. VP Corp Finance & Acct Officer Colleen P. Hopper reported acquiring Vylor securities on October 1, 2026, in connection with Vylor’s spin-off from Corteva Inc. She reported 11,416 common shares held directly, including stock received in the spin-off, restricted stock units and dividend equivalent units, and 1,098 shares held indirectly through a 401(k). She also reported 1,656 converted Vylor options with a $57.22 exercise price; 552 were vested and exercisable, and the rest vest in equal installments on February 18, 2027 and February 18, 2028. The options expire February 18, 2035.
Vylor Inc. Chief Financial Officer David Paul Johnson received 166,357 Vylor common shares on October 1, 2026, as one share for each Corteva common share he held in connection with Vylor’s spin-off; the amount includes restricted stock units and dividend equivalent units. Corteva awards were converted into 20,821 Vylor options at $57.22 and 26,596 options at $49.95. Of those awards, 6,940 and 17,730 options, respectively, were vested and exercisable. The remaining options in the first award vest in equal installments on February 18, 2027, and February 18, 2028; those in the second vest on September 16, 2027.
Vylor Inc. Chief Legal Officer & Corp Sec Jennifer Amy Johnson received 44,472 Vylor common shares on October 1, 2026, in connection with Vylor’s spin-off from Corteva; the amount includes shares received in the spin-off, restricted stock units and dividend equivalent units. Corteva-denominated equity awards were adjusted in part into Vylor awards, including options covering 13,991 common shares with a $62.20 exercise price. Of those options, 4,663 are vested and exercisable; the remaining options vest in two equal installments on September 15, 2027 and September 15, 2028.
Vylor Inc. Chief Executive Officer Charles V. Magro reported receiving 834,809 common shares on October 1, 2026, in connection with Vylor’s spin-off from Corteva. The amount includes Vylor common stock received in the spin-off, including restricted stock units and dividend equivalent units.
Magro’s Corteva equity awards were converted into four Vylor stock-option awards: 145,694 options at a $45 exercise price; 110,257 at $57.22; 131,778 at $48.25; and 107,830 at $55.29. The awards were reported as direct holdings.