Copart (CPRT) Approves Two-for-One Split
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Copart, Inc. (Nasdaq: CPRT) reports that its Board of Directors has approved a two-for-one split of its common stock.
The stock split will be effected as a stock dividend entitling each stockholder of record to receive one additional share of common stock for every one share owned. Additional shares issued as a result of the stock dividend will be distributed after close of trading on March 28, 2012, to stockholders of record on March 23, 2012. Stockholders do not need to exchange existing stock certificates. The stock split will increase the number of shares of common stock outstanding from approximately 63,400,000 shares to approximately 126,800,000 shares. Appropriate adjustments will also be made to shares subject to awards and available reserves under Copart’s equity incentive plans. In addition, the number of shares authorized for repurchase under Copart’s previously announced share repurchase program will be adjusted to reflect the two-for-one split in the form of a dividend.
The stock split will be effected as a stock dividend entitling each stockholder of record to receive one additional share of common stock for every one share owned. Additional shares issued as a result of the stock dividend will be distributed after close of trading on March 28, 2012, to stockholders of record on March 23, 2012. Stockholders do not need to exchange existing stock certificates. The stock split will increase the number of shares of common stock outstanding from approximately 63,400,000 shares to approximately 126,800,000 shares. Appropriate adjustments will also be made to shares subject to awards and available reserves under Copart’s equity incentive plans. In addition, the number of shares authorized for repurchase under Copart’s previously announced share repurchase program will be adjusted to reflect the two-for-one split in the form of a dividend.
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