Deckers Brands Announces Board of Directors Approval of Early Six-for-One Stock Split

GOLETA, Calif., July 12, 2024–(BUSINESS WIRE)–Deckers Brands (NYSE: DECK), a global leader in the design, marketing and distribution of innovative footwear, apparel and accessories, today announced that its Board of Directors has approved an anticipated six-for-one stock split. The Board of Directors also approved a pro rata increase in the number of shares of common stock and preferred stock authorized to reflect the stock split.

The stock split and permitted share increase are subject to shareholder approval of an amendment to the Company’s certificate of incorporation and filing of the amendment with the Secretary of State of the State of Delaware. The Company intends to include a proposal seeking shareholder approval of such amendment at its next annual meeting of shareholders, to be held on September 9, 2024. If the Company’s shareholders approve the proposal, the Company expects to file the charter amendment and implement the stock split and permitted share increase promptly after the 2024 annual meeting.

“The price of our common stock has increased significantly over the past several years as a result of our strong financial performance and the execution of our strategic plan. We believe that implementing the anticipated stock split will make our common stock more affordable and attractive to a broader group of potential investors, including our employees, and will increase the trading liquidity of our common stock,” said Dave Powers, President and Chief Executive Officer.

Following shareholder approval and the filing and effectiveness of the charter amendment, each common share outstanding on September 6, 2024, the record date for the stock split, will be divided into six common shares, and each preferred share will be divided into six preferred shares. There are currently no preferred shares outstanding. The additional shares will be distributed after the close of business on September 16, 2024.

Subject to final approval by the New York Stock Exchange, trading is currently expected to commence on a post-split adjusted basis at market open on September 17, 2024.

About Deckers Brands

Deckers Brands is a global leader in the design, marketing and distribution of innovative footwear, apparel and accessories designed for everyday casual wear and high-performance activities. The Company’s portfolio of brands includes UGG®, HOKA®, Teva®, Sanuk®, Koolaburra® and AHNU®. Deckers Brands products are sold in more than 50 countries and territories through select department and specialty stores, company-owned and operated retail stores and select online stores, including company-owned websites. Deckers Brands has more than 50 years of experience building niche footwear brands that have grown into lifestyle market leaders attracting millions of loyal consumers worldwide. For more information, please visit www.deckers.com.

Additional information and where to find it

This communication may be deemed to be solicitation material in connection with the proposal to approve the amendment to the bylaws and to implement the stock split and authorized increase in the number of shares to be submitted to the Company’s stockholders at the 2024 annual meeting. This press release does not contain all of the information that should be considered by the Company’s stockholders with respect to this proposal and is not intended to be the basis for any voting decision with respect to this proposal. In connection with this proposal and the other matters to be considered at the 2024 annual meeting, the Company intends to file a definitive proxy statement on Schedule 14A with the SEC. When available, stockholders and other interested persons are encouraged to read the definitive proxy statement and other relevant materials filed with the SEC. Investors and other interested parties will be able to obtain proxy materials free of charge at the Company’s Investor Relations website, www.ir.deckers.com, or at the SEC’s website, www.sec.gov.

Participants in the solicitation

The Company and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the Company’s stockholders regarding the proposal to approve the amendment to the Articles of Incorporation and to implement the stock split and authorized increase in the number of shares. Information regarding the directors and executive officers, including a description of their interests in the Company, can be found in the Company’s proxy materials to be filed in connection with the 2024 Annual Meeting, which will be available free of charge at the websites listed above.

Caution Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, which statements are subject to substantial risks and uncertainties. Forward-looking statements include all statements other than statements of historical fact contained in this press release, including statements regarding the anticipated timing of the 2024 annual meeting, the outcome of the vote on the proposal to approve the amendment to the bylaws, the implementation and timing of the stock split and authorized share increase, and the timing of transactions following the stock split. We have attempted to identify forward-looking statements by using words such as “anticipate,” “believe,” “estimate,” “intend,” “may,” “plan,” “predict,” “project,” “should,” “will,” “willing,” or “willingness” and similar expressions or the negative of these expressions.

Forward-looking statements represent our management’s current expectations and projections regarding trends affecting our business and industry and are based on information available at the time such statements are made. Although we do not make forward-looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy or completeness. Forward-looking statements involve numerous known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements predicted, assumed or implied by the forward-looking statements. Some of the risks and uncertainties that could cause our actual results to differ materially from those expressed or implied by these forward-looking statements, including the risk that stockholders will not approve the increase in the number of authorized shares of our common stock and preferred stock, that the stock split will be prevented from becoming effective or will be delayed due to legal or regulatory constraints and other risk factors described in the section entitled “Risk Factors” in our Annual Report on Form 10-K for the year ended March 31, 2024, as well as in our Quarterly Reports on Form 10-Q and other filings with the SEC.

The forward-looking statements contained in this press release are based only on information currently available to us and speak only as of the date on which they are made. Except as required by applicable law or the listing rules of the New York Stock Exchange, we expressly disclaim any intention or obligation to update any forward-looking statements or to update the reasons why actual results could differ materially from those expressed or implied by such forward-looking statements, whether to conform such statements to actual results or changes in our expectations or as a result of the availability of new information.

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Contacts

Investor contact:
Erinn Kohler | Vice President, Investor Relations, Corporate Planning and Business Analysis | Deckers Brands | 805.967.7611