The board of directors of Salesforce.com (NYSE:CRM) has approved a four-for-one (4:1) split of the company's common stock, and shareholders approved an increase in the number of authorized shares of common stock from 400 million, to 1.6. billion, the company announced today.

An additional three shares of Salesforce.com stock will be given to each stockholder of record as of April 3, 2013, with those shares distributed on April 17. Trading for those shares on a split-adjusted basis will begin on April 18.

Salesforce.com shares traded at $172. 23 a share at the end of Thursday's trading session, with 146.45 million shares outstanding.