# Forward\_splits object missing Payable Date

**URL:** <https://forum.alpaca.markets/t/forward-splits-object-missing-payable-date/14660>\
**Category:** Alpaca Trading\
**Created:** [July 18, 2024, 7:02pm UTC](https://forum.alpaca.markets/t/forward-splits-object-missing-payable-date/14660 "2024-07-18T19:02:00Z")\
**Posts on this page:** 3\
**Page:** 1

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**Author:** ![jrn0074](https://avatars.discourse-cdn.com/v4/letter/j/97f17d/32.png) [@jrn0074](https://forum.alpaca.markets/u/jrn0074)\
**Post date:** [July 18, 2024, 7:02pm UTC](https://forum.alpaca.markets/t/forward-splits-object-missing-payable-date/14660/1 "2024-07-18T19:02:00Z")

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It appears the “foward\_splits” object is missing the “payable\_date” attribute for some symbols’ corporate actions. Consider the below request for NVDX and NVDQ:

[https://data.alpaca.markets/v1beta1/corporate-actions?symbols=NVDX,NVDQ&types=reverse\_split,forward\_split,cash\_dividend&start=2024-01-01&end=2024-12-31](https://data.alpaca.markets/v1beta1/corporate-actions?symbols=NVDX,NVDQ&types=reverse_split,forward_split,cash_dividend&start=2024-01-01&end=2024-12-31)

{  
“corporate\_actions”: {  
“forward\_splits”: [  
{  
“ex\_date”: “2024-07-16”,  
“new\_rate”: 10,  
“old\_rate”: 1,  
“process\_date”: “2024-07-16”,  
“record\_date”: “2024-07-15”,  
“symbol”: “NVDX”  
}  
],  
“reverse\_splits”: [  
{  
“ex\_date”: “2024-07-16”,  
“new\_rate”: 1,  
“old\_rate”: 3,  
“payable\_date”: “2024-07-16”,  
“process\_date”: “2024-07-16”,  
“record\_date”: “2024-07-16”,  
“symbol”: “NVDQ”  
}  
]  
},  
“next\_page\_token”: null  
}

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<div class="post-metadata">

**Author:** ![Dan\_Whitnable\_Alpaca](https://sea2.discourse-cdn.com/flex020/user_avatar/forum.alpaca.markets/dan_whitnable_alpaca/32/1658_2.png) [@Dan\_Whitnable\_Alpaca](https://forum.alpaca.markets/u/Dan_Whitnable_Alpaca)\
**Post date:** [July 19, 2024, 12:34am UTC](https://forum.alpaca.markets/t/forward-splits-object-missing-payable-date/14660/2 "2024-07-19T00:34:52Z")

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@jrn0074 For splits, the only attribute that really matters for traders is the `ex_date`. That is the first date which the ‘new shares’ start trading with a split adjusted value (and therefore should begin trading at the split price).

The `payable_date` is the date new shares would be issued by the company (or their transfer agent) and expected to appear at the clearing firm to then credit the actual owner accounts. In absence of a `payable_date` it is assumed to be the `ex_date`. That date and dates other than the the `ex_date` really only matter to brokers. They may need to do some extra processing based on those, but the end customer isn’t impacted.

For example, typically the `record_date` is the `ex_date`. As of the `ex_date`, if you own the stock (ie are the owner of record), you are entitled to the extra shares… However, once in awhile, the `record_date` is before the `ex_date`. When that happens, if you choose to sell your shares before the `ex_date`, the shares are sold with “_due bills_” meaning those extra shares you were entitled to get transferred to the buyer. This is handled by the broker and is transparent to the buyer and seller. So in effect, it doesn’t matter to a buyer or seller when the `record_date` is. The net result is, if one buys before the `ex_date` and holds through the `ex_date`, you will get the extra shares.

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<div class="post-metadata">

**Author:** ![jrn0074](https://avatars.discourse-cdn.com/v4/letter/j/97f17d/32.png) [@jrn0074](https://forum.alpaca.markets/u/jrn0074)\
**Post date:** [July 19, 2024, 1:17am UTC](https://forum.alpaca.markets/t/forward-splits-object-missing-payable-date/14660/3 "2024-07-19T01:17:41Z")

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Thanks but I wasn’t really asking how stock splits work. I was pointing out and seeking confirmation the object changed at some point since my code—which hadn’t been used for at least 6 months—threw an error when the attribute was no longer there.

Is there a thread that announces changes to json objects, like the long/short margin being added to [asset]?