[ad_1]
Restaurant general managers receive special stock grants
Newport Beach, California, March 19, 2024 /PRNewswire/ — Chipotle Mexican Grill (NYSE:CMG) today announced that its board of directors has approved a 50-for-1 split of its common stock. This will be one of the largest stock splits in the history of the New York Stock Exchange (NYSE).
Any stock split is subject to stockholder approval of an amendment to our articles of incorporation to increase the number of common shares issuable in response to the stock split. The company plans to seek shareholder approval for this amendment at its next annual general meeting. June 6, 2024.
If the amendment to the articles of incorporation is approved, the shareholders listed in the current shareholder register will be June 18, 2024 For every share held, you will receive an additional 49 shares, which will be distributed after the market closes. June 25, 2024. Chipotle stock is expected to begin trading on a post-split basis. Wednesday, June 26, 2024.
“This is the first stock split in Chipotle’s 30-year history, and we believe it will make our stock more accessible to a wide range of investors, not just our employees,” said Chipotle Chief Financial Officer. said Jack Hartung. “This split comes at a time when our stock price is at an all-time high driven by record revenues, profits and growth.”
To commemorate this special event and to recognize the company’s strong performance, Chipotle is announcing a special one-time equity grant for all restaurant general managers and crew members with 20 years or more of service. did. “In recognition of the hard work and dedication of our general manager and current crew members to Chipotle, we are awarding a one-time equity grant as an added incentive to continue to deliver outstanding results and share in our financial success,” Brian said. I would like to express my gratitude by providing this.” Nicol, Chairman and CEO of Chipotle.
About Chipotle
Chipotle Mexican Grill, Inc. (NYSE: CMG) serves real, traditionally prepared food made with responsibly sourced, wholesome ingredients and no artificial colors, flavors or preservatives. By providing the following, we aim to make the world a better place. As of December 31, 2023, Chipotle operates more than 3,400 restaurants in the United States, Canada, the United Kingdom, France, and Germany, and is the only restaurant company of its size to own and own all of its restaurants in North America and Europe. It is operated. Chipotle is a Fortune 500 company and has been named to Fortune’s Most Admired Companies 2024 list and Time Magazine’s Most Influential Companies. With more than 115,000 employees passionate about delivering a great guest experience, Chipotle is a longtime leader and innovator in the food industry. Chipotle remains a brand with a clear purpose of leading in digital, technology and sustainable business practices while working to make our food more accessible to everyone. For more information or to order online, visit Chipotle.com.
Forward-looking statements
This press release, including statements regarding the expected timing and effects of stock splits and one-time stock grants, and statements using words such as “expects,” “intends,” and “believes,” Certain statements within are forward-looking statements. These forward-looking statements are based on information currently available to us, and we undertake no obligation to update them. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those described in this press release, including the risk that stockholders will not approve an increase in the number of authorized shares of our common stock. be affected by. legal or regulatory restrictions and other risk factors described from time to time in our SEC reports, including our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q; In the event that the separation does not take effect or is delayed, all of these will be available on the Investor Information page of our website. ir.chipotle.com.
sauce chipotle mexican grill
[ad_2]
Source link
