My research shows it is just a formality. Whoever buys before the split is distributed gets the split shares. Therefore if you bought today you would get the 2 to 1 split (extra shares) and if you sold today, you lose the split for the shares sold.
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Here is a summary of it all:
The buyer pays the pre-split price, and the trade has a "Due Bill" atttached. The due bill means the buyer is due the split shares when they are issued. Sometimes the buyer's confirmation slip will have "due bill" information on it.
In theory, on the distribution date, the split shares go to the holder of record, but that person has sold the shares to the buyer, and a due bill is attached to the sale.
So in theory, on the distribution date, the company delivers the split shares to the holder of record. But because of the due bill, the seller's broker delivers on the due bill, and delivers the seller's newly received split shares to the buyer's broker, who ultimately delivers them to the buyer.
The fingers never left the hand, the hand is quicker than the eye, and magic happens. In practice no one really sees any of this take place.
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