Safeway completes distribution of Blackhawk Networks Holdings stock

PLEASANTON, Calif. — Safeway on Monday completed the distribution to its stockholders of 37.8 million shares of Class B common stock of Blackhawk Networks Holdings owned by Safeway. After the completion of the distribution, Safeway no longer owns any shares of Class B common stock of Blackhawk.

The distribution by Safeway was made Monday, in the form of a pro rata common stock dividend, of its Class B common stock equity interest in Blackhawk to all Safeway stockholders of record on April 3. Safeway stockholders have received 0.164291 of a share of Blackhawk Class B common stock, in book-entry form, for every share of Safeway common stock held as of the close of business on April 3. No fractional shares of Blackhawk Class B common stock were distributed. Instead, Safeway stockholders received cash in lieu of any fraction of a share of Blackhawk Class B common stock that they otherwise would have received.

Starting on April 15, the when-issued market for Safeway common stock on the New York Stock Exchange (previously trading under the symbol "SWYWI" or "SWY-WI" on certain websites) will no longer be available, and the "regular way" market for Safeway will be trading "ex" or, in other words, without the entitlement of the shares of Blackhawk Class B common stock.