CARLSBAD, Calif. – Phoenix Footwear Group Inc. shareholders have approved an increase in the number of authorized shares of the company’s common stock from 6 million to 50 million. The approval will enable Phoenix Footwear to initiate the 2-for-1 split of the common stock, which was previously approved by its board of directors in February.

Shareholders of record at the close of business May 22 will receive two shares in exchange for every one share held, with a distribution date of June 12, 2003.

Formerly known as Daniel Green Co. and based in Old Town, Phoenix Footwear Group Inc. is now headquartered in Carlsbad.