/PRNewswire/ -- Under Armour, Inc. (NYSE: UA) today announced that its Board of Directors has approved a two-for-one stock split of its outstanding common stock. The stock split will be effected in the form of a dividend of one share of Class A Common Stock for each share of Class A Common Stock outstanding and one share of Class B Common Stock for each share of Class B Common Stock outstanding. The additional shares issued as a result of the stock split will be distributed on or about July 9, 2012 to stockholders of record on June 25, 2012.
Class A Common Stock
SAN JOSE, Calif. — Orchard Supply Hardware Stores Corp. announced that its spin-off from Sears Holdings Corporation was completed at 11:59 p.m. EST on Dec. 30, 2011. Trading of Orchard’s Class A Common Stock will begin Tuesday on the Nasdaq Capital Market under the symbol “OSH”. "We look forward to Orchard being an independent publicly traded company,” said Mark Baker, president and CEO of Orchard. During the past year, our team has made significant progress toward developing a differentiated home improvement retail experience. We’re implementing new customer service initiatives and merchandising strategies, and have begun transitioning our stores to
Hoffman Estates, Ill.-based Sears Holdings Corp.'s board of directors has approved the spinoff of its Orchard Supply Hardware Stores Corp., allowing the retailer to push forward on plans unveiled earlier this year, according to www.wsj.com. In June 2011, Sears revealed plans to spin off the hardware store operator, reportedly commenting that both companies could better focus on their goals as separate firms. As a result of the spinoff, Sears' shareholders will receive one share of Orchard Class A common stock and one share of preferred stock for every 22.14 shares they hold of Sears. After the separation, Orchard expects