Lululemon Athletica Inc. announced that its board of directors has approved, subject to stockholder approval, a two-for-one stock split of the company's common stock and an increase in the company's authorized common stock from 200 million shares to 400 million shares.
In connection with the stock split, the board also approved, subject to stockholder approval, a two-for-one split of the company's Special Voting Stock and an increase in the company's authorized Special Voting Stock from 30 million to 60 million. Stockholders will have the opportunity to approve the stock split and proposed share increase at the company's annual meeting expected to be held on June 8, 2011.
Upon stockholder approval of the stock split and the proposed increase in the authorized number of shares, the stock split will be implemented as soon as practicable following the annual meeting.
