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SunTrust Banks, Inc. Message Board

  • TheInsideTrader TheInsideTrader May 8, 1998 5:35 PM Flag

    Stock Split

    Does anyone know of plans to dilute the number of shares?
    Thanks so much.

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    • At the Annual Meeting, the number of authorized
      shares was increased from 350mm to 500mm, for "future
      stock splits, stock dividends, aquisitions, or issuance
      upon exercise of stock options or to raise additional
      capital in public or private sales" (quotations from
      Proxy Statement). Also in Proxy is a line about the
      1995 Executive Stock Plan - read it. The final award
      will be granted when the stock reaches $91.10/share.
      Kinda doubt those participants will get 150mm shares of
      stock. So look for a stock split after the stock goes
      over $91. Has STI ever traded at those prices? Could
      be something else..

 
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