JetBlue sets a three-for-two stock split

updated 8:28 a.m. ET Oct. 20, 2005

NEW YORK - JetBlue Airways Corp.’s board has declared a three-for-two stock split of the company’s common stock.

In a press release Wednesday, the low-cost passenger airline said the split will be distributed Dec. 23 to stockholders of record at the close of business Dec. 12.

JetBlue said cash will be paid in lieu of fractional shares and once the stock split is completed, the number of issued and outstanding shares of common stock will increase by 50 percent.

In addition, the airline said its board approved the acceleration of the vesting for all unvested stock options awarded under the stock incentive plan before Dec. 31, excluding those held by some officers and board members. As a result, options to buy up to about 13 million shares of common stock may become exercisable immediately effective Dec. 9, representing 65 percent of JetBlue’s total current outstanding options.

Stock options granted by New York-based JetBlue typically vest over five or seven years.

MORE FROM STOCKS & ECONOMY

Stocks & economy Section Front

Stocks slip after week of big gains   Warren Buffett: Financial panic is over Jobless claims fall to lowest level since January Oil falls below $77 on increased supplies Wal-Mart posts 3 percent rise in profit Pay czar concerned firms could lose talent NYT: Under attack, Bernanke studies politics Dollar stumbles to 15-month low Of bats and billions: Following stimulus funds As stimulus funds trickle down, debate heats up Stocks & economy Section Front   Add Stocks & economy headlines to your news reader: