March 19, 2024

PRNEWSWIRE– Today, Chipotle Mexican Grill, Inc. (CMG) announced a proposal for a 50-for-one split of its common stock, which could be one of the largest stock splits in the history of the New York Stock Exchange (NYSE).

The proposed stock split will only occur if shareholders approve a change to the company’s Certificate of Incorporation to increase the number of authorized common stock shares. The company plans to seek this approval at its annual meeting on June 6, 2024.

If the amendment is approved, shareholders on record as of June 18, 2024, will receive an additional 49 shares for each share they own. These additional shares will be distributed after the market closes on June 25, 2024. It is expected that Chipotle’s shares will start trading on a post-split basis when the market opens on Wednesday, June 26, 2024.

This would be the first time in Chipotle’s 30-year history that a stock split has occurred. Jack Hartung, Chipotle’s Chief Financial and Administrative Officer, stated that the split would make the company’s stock more accessible to employees and a wider range of investors. He added that the decision comes at a time when the company’s stock is at an all-time high due to record revenues, profits, and growth.

In celebration of this significant event and to acknowledge the company’s strong performance, Chipotle announced a special one-time equity grant for all restaurant general managers and crew members with over 20 years of service. Brian Niccol, Chipotle’s Chairman and CEO, expressed gratitude to the general managers and long-serving crew members for their hard work and dedication. He said the one-time equity grant is an extra incentive for them to continue delivering excellent results and share in the company’s financial success.