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Subsequent Event
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3 Months Ended |
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Mar. 30, 2012
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Subsequent Event
On April 25, 2012, the Board of Directors voted to recommend a two-for-one stock split to shareowners. Implementation of the stock split is subject to approval by shareowners of an amendment to the Company's certificate of incorporation to increase the number of authorized shares of common stock from 5.6 billion to 11.2 billion. This amendment, which would also enable the two-for-one stock split, will be voted on at a special meeting of shareowners anticipated to be held on July 10, 2012. If approved, the record date for the stock split is expected to be on or about July 27, 2012. Each shareowner of record on the close of business on the record date will receive one additional share of common stock for each share held. The new shares are expected to be distributed on or about August 10, 2012.
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- Definition
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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