Amazon to Split Shares 20-for-1

<p>Amazon&comma; the leading online retailer and cloud service&comma; says its Board of Directors has approved a 20-for-1 split of the Company’s common stock&period;<&sol;p>&NewLine;<p>Shares in Amazon stock closed Wednesday at &dollar;2&comma;785&period;58 per share&comma; up &dollar;65&period;29&period; The stock was trading 6&percnt; higher after hours when news of the split was released in a filing with the SEC&period;<&sol;p>&NewLine;<p>Alphabet&comma; parent company of Google&comma; also announced a 20-for-1 stock split last month that will take place this July&period;<&sol;p>&NewLine;<p>The Amazon stock split and the proportionate authorized share increase are subject to shareholder approval at the 2022 Annual Meeting of Shareholders&comma; which is currently scheduled to take place on May 25&comma; 2022&period;<&sol;p>&NewLine;<p>Subject to shareholder approval of the Amendment&comma; each Company shareholder of record at the close of business on May 27&comma; 2022 will have 19 additional shares for every one share held as of such date reflected in their accounts on or about June 3&comma; 2022&period; Trading is expected to begin on a split-adjusted basis on June 6&comma; 2022&period;<&sol;p>&NewLine;<p>The Amazon Board also authorized the Company to repurchase up to &dollar;10 billion of the Company’s common stock&period; The program allows the Company to repurchase its shares opportunistically from time to time when it believes that doing so would enhance long-term shareholder value&period; The repurchase authorization does not have a fixed expiration&period; Purchases may be effected through one or more open market transactions&comma; privately negotiated transactions&comma; transactions structured through investment banking institutions&comma; or a combination of the foregoing&period; This stock repurchase authorization replaces the previous &dollar;5 billion stock repurchase authorization&comma; approved by the Board of Directors in 2016&comma; under which the Company had repurchased &dollar;2&period;12 billion of its shares&period;<&sol;p>&NewLine;