Willis Lease Drops as Activist Battle Pushes June Vote Toward Dilution Showdown
Willis Lease Finance shares dropped 1.6% early Wednesday on Nasdaq after a new activist group pushed back on the aircraft-engine lessor’s move to boost its authorized share count. Investors are watching for a reconvened shareholder vote expected later this month. Willis wants holders to approve both a 3-for-1 forward stock split and a boost to its authorized share count. The split would drop the share price and raise the number of shares. Upping the authorized amount lets the company issue more stock, which could dilute current holders if used. Proposal 2 will need 80% of outstanding shares to pass, with a virtual vote set for June 23.