Company: ORLY
Filing Date: 2025-03-14
Form Type: PRE 14A
Source: 0000898173-25-000013
Chunk: 5

Company: O REILLY AUTOMOTIVE INC
Filing Date: 2025-03-14
Form: PRE 14A
Chunk 5
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 and adopt, an amendment to our Second Amended and Restated Articles of Incorporation (the “Charter”) to increase the number of authorized shares of common stock, par value $0.01 per share, from 245 million (245,000,000) to 1.25 billion (1,250,000,000) (the “Share Increase Proposal”) to implement a 15-for-1 stock split of our common stock in the form of a one-time special stock dividend (the “Stock Split”). The Board has determined that the Charter amendment is advisable and in the best interests of O’Reilly and its shareholders. The Share Increase Proposal would amend Article III, Section (a) of the Charter as follows (additions are double underlined and deletions are struck through): ARTICLE III (a) The aggregate number, class and par value of shares which the corporation shall have the authority to issue shall be two hundred and fifty million (250,000,000) one billion two hundred fifty-five million (1,255,000,000) shares, which shall include two hundred and forty five million (245,000,000) one billion two hundred fifty million (1,250,000,000) shares of common stock, par value $0.01 per share , and five million (5,000,000) shares of preferred stock, par value $0.01 per share. The above summary is qualified in its entirety by reference to the full text of the amended and restated Charter, attached to this proxy statement as Annex A . The primary purpose of increasing the number of authorized shares of our common stock is to facilitate the Stock Split. On March 12, 2025, the Board approved the Stock Split, subject to shareholder approval and effectiveness of the proposed amendment to our Charter. As of March 6, 2025, there were approximately 57,240,513 shares of common stock issued and outstanding and approximately 6,116,503 shares reserved for issuance under O’Reilly’s equity compensation plans. Accordingly, approximately 181,642,984 shares of common stock remain available for issuance, which is not sufficient to effectuate the Stock Split. The Share Increase Proposal would increase the number of authorized shares of common stock from 245 million to 1.25 billion. The additional shares would be a part of the existing class of common stock and, if and when issued, would have rights identical to currently outstanding shares of common stock. The preferred stock, of which no shares