They happen for all campaigns.
Does the bid adjustments happen after the keyword brings a conversion in the search terms campaign?
A- bid adjustments are based on conversions and dimensions data
When a keyword brings a conversion in the regular campaign, we create a page and subdomain for that keyword in the search terms campaign and remove that keyword from the regular campaign so we don't compete against ourselves?
A-Yes. You also add a phrase exact and BMM/Broad version of the KW in the Search Terms campaign.