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- Chipotle Mexican Grill (NYSE:CMG) said on Tuesday its board had approved a 50-for-one split of its common stock.
- CMG said it plans to seek shareholder approval for the amendment at its upcoming annual meeting on June 6, 2024.
- If the Certificate of Incorporation amendment is approved, shareholders of record as of June 18, 2024, will receive 49 additional shares for each share held, which will be distributed after market close on June 25, 2024.
- The company’s shares are expected to begin trading on a post-split basis at the market open on Wednesday, June 26, 2024.
- CMG also announced a special one-time equity grant for all restaurant general managers as well as crew members with more than 20 years of service.
- Press Release