Passage: The plan provides for the distribution of one common stock-purchase right as a dividend for each share of common outstanding. Each right entitles shareholders to buy one-half share of common for $30.
What event has already happened? What is happening now? What will happen in the future? What might happen after the plan takes effect? What event has started? What event had started before the distribution of stock? What happens before shareholders buy stock? What happened before the plan took effect?