Willis Lease Finance Corporation (NASDAQ: WLFC) shares rose 3.5% in after-hours trading Tuesday following shareholder approval of a three-for-one forward stock split and the passage of all items on the company's 2026 proxy.
Shareholders voted to authorize the 3-for-1 split of common stock and to proportionately increase the number of authorized shares to accommodate the change. The company's Board of Directors had previously approved the split, which will be put into effect through an amendment to the company's certificate of incorporation.
Under the terms approved by investors, each shareholder of record as of the close of trading on July 6, 2026 will receive two additional shares for every one share held on that record date. The company indicated that, subject to final approval by Nasdaq, shares are expected to begin trading on a split-adjusted basis at the market open on July 20, 2026.
Commenting on the outcome of the vote, Charles F. Willis, Executive Chairman of WLFC, said: "We are pleased that the 3-to-1 stock split proposal has passed with overwhelming shareholder support, as we believe this action is in the best interests of the Company and our shareholders." Willis also noted that all five proposals on the company's 2026 proxy were approved by shareholders.
Willis Lease Finance Corporation operates in the aviation leasing sector. The company leases large and regional spare commercial aircraft engines and aircraft to airlines, aircraft engine manufacturers, and maintenance, repair, and overhaul providers worldwide. In addition, Willis Lease Finance provides engine and aircraft trading, operates engine lease pools, offers asset management services, and supplies various end-of-life solutions for engines and aviation materials.
The shareholder vote clears the procedural and corporate governance steps needed to implement the split, including the planned amendment to the certificate of incorporation that will increase authorized shares. The timetable for when split-adjusted trading will commence remains contingent on final regulatory sign-off by Nasdaq.
Investors who hold shares as of the specified record date will automatically receive the additional shares without any action required, subject to the administrative steps that follow shareholder approval and Nasdaq's final confirmation of the split-adjusted trading schedule.
This report focuses on the immediate corporate action and market response tied to the shareholder vote and the planned stock split. It does not introduce new developments beyond the items approved by shareholders and the implementation steps described by the company.