Amazon.com, Inc. (NASDAQ:AMZN) shareholders will be asked at tomorrow's (May 25th) Annual Meeting of Shareholders to approve the pending 20-for-1 stock split and authorize an increase in the shares outstanding to carry out the split.
Amazon said the split would provide employees with more flexibility in how they manage their Amazon equity and make the stock more accessible to anyone who wants to invest in Amazon.
If approved, each shareholder of record at the close of business on May 27, 2022, will have 19 additional shares for every one share held as of such date reflected in their accounts on or about June 3, 2022. Trading is expected to begin on a split-adjusted basis on June 6, 2022.
In addition to the stock split, shareholders will be voting on directors, the ratification of Ernst & Young and independent auditors, an advisory vote to approve executive compensation, and various shareholder proposals.
The meeting will be held at 9 AM PST, or 12 PM EST.
Shares of Amazon are down 36% year-to-date and down 23% since the split was announced in March.