Lululemon Athletica Inc. announced that its stockholders approved a two-for-one split of the company’s stock at its annual meeting held on June 8, 2011.
Also approved was a corresponding increase in the number of shares of common stock authorized for issuance.
The stock split will become effective upon the filing of an amendment to the company’s Certificate of Incorporation with the Secretary of State of the State of Delaware without any further action on the part of lululemon’s stockholders. The company expects to file the amendment to its Certificate of Incorporation the week of June 20, 2011. Shares of lululemon common stock are expected to trade on the Nasdaq Stock Market and the Toronto Stock Exchange on a post-split basis commencing two days prior to the record date for the stock split, which will be approximately ten trading days following the filing of the amended Certificate of Incorporation. Each shareholder of record as of the record date will receive two shares of common stock for each such share of stock held by the shareholder as of that date.
Following the effectiveness of the stock split, the company will have approximately 108 million shares of common stock issued and outstanding.
