Disclosure from E-Commerce Giant Amazon to its Shareholders

Washington-based American technology giant Amazon announced at its May 25 Annual Shareholders Meeting that it will be asked to approve its pending 20-1 share split and allow it to increase existing shares to complete the split.

American tech giant Amazon said the split would give employees more flexibility in how they manage their Amazon shares, and make their stock more accessible to anyone who wants to invest in Amazon. Following the decision, each registered shareholder will have 19 additional shares for each share owned as of the close of business on May 27, 2022, beginning on a date such as June 3, when it will be reflected in their accounts. It was stated that trading will begin on June 6, 2022, adjusted for the split. In addition to the stock split, shareholders, directors, Ernst & Young, and independent auditors will vote on various shareholder proposals and will be able to cast a recommendation vote to approve executive compensation. Amazon shares are down 36% so far this year and have dropped 23% since the split was announced in March.