Jim, to elaborate more on my method...
I usually enter the following into the full-text search box on the sec.gov site:
"reverse split" AND "fractional shares"
This returns only articles that contain both the exact phrase "reverse split" as well as "fractional shares". This usually narrows down the reading material. I am sure there are other phrases that you could use to narrow it further. You can also use the advanced search function to limit the dates or article types as well.
Once I open an actual filing (typically a Proxy or Schedule 13)I immediately scan the opening paragraphs to find out the terms of the split (ratio and date). I then look to see what will be done with fractional shares (cash-out or round-up). You can find this quickly by pressing CTRL+F on the keyboard and searching for the word fractional.
Next step, I have google finance open in another tab and check the current price of the stock. Often it turns out not to be worthwhile. If it still looks promising I do another search (CTRL+F) for "street-name" which usually will take you to the section that discusses how shares held in street name will be handled. If shares in street name are being cashed out or the round-up is worthwhile I then go ahead and place a limit order at the price I desire.
Another tip, once I own the shares I will immediately place a limit order to sell the shares a few cents below what they will be cashed out for. This way if the price happens to spike I am able to unload my shares quickly for a few bucks less than the cash-out. I feel that this would be worth it as you can then re-invest instead of waiting an extra month. This generally won't happen, but it doesn't hurt to try.
Anyone else have a good strategy? This is what I've managed to figure out, but I'm open to any better ways of searching.
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