Deckers Brands (NYSE: DECK), a global leader in designing, marketing, and distributing innovative footwear, apparel, and accessories, today announced that its Board of Directors approved a six-for-one forward stock split. The Board also approved a proportionate increase in the number of authorized shares of common stock and preferred stock to accommodate the stock split.
The stock split and the authorized share increase are subject to stockholder approval of an amendment to the Company’s Certificate of Incorporation and the filing of the amendment with the Secretary of State of the State of Delaware. The Company intends to include a proposal seeking stockholder approval for this amendment at its upcoming annual meeting of stockholders, to be held on September 9, 2024. If the Company’s stockholders approve the proposal, the Company expects to file the charter amendment, and to implement the stock split and the authorized share increase, promptly following the 2024 annual meeting.
“The trading price of our common stock has risen significantly over the past several years as a result of our strong financial performance and the execution of our strategic plan. We believe effecting the forward stock split will make the shares of our common stock more affordable and attractive to a broader group of potential investors, including our employees, and increase the liquidity of the trading of the shares of our common stock,” said Dave Powers, President and Chief Executive Officer.
Following stockholder approval, and the filing and effectiveness of the charter amendment, every one share of common stock outstanding on September 6, 2024, the record date for the stock split, will be split into six shares of common stock, and every one share of preferred stock will be split into six shares of preferred stock. There are currently no shares of preferred stock outstanding. The additional shares will be distributed after market close on September 16, 2024.
Subject to final approval by the New York Stock Exchange, trading is currently expected to begin on a post-stock split adjusted basis at market open on September 17, 2024.
About Deckers Brands
Deckers Brands is a global leader in designing, marketing, and distributing innovative footwear, apparel, and accessories developed for both everyday casual lifestyle use and high-performance activities. The Company’s portfolio of brands includes UGG®, HOKA®, Teva®, Sanuk®, Koolaburra®, and AHNU®. Deckers Brands products are sold in more than 50 countries and territories through select department and specialty stores, Company-owned and operated retail stores, and select online stores, including Company-owned websites. Deckers Brands has over 50 years of history building niche footwear brands into lifestyle market leaders attracting millions of loyal consumers globally. For more information, please visit www.deckers.com.
