<p>Shares in burrito restaurant chain Chipotle Mexican Grill hit an all-time high on Monday, rising $93.75 to close at $3,365.46. Shares hit an intraday and all-time high of $3,384.04.</p>
<p>The company announced last week during its annual meeting,shareholders approved an increase in the number of authorized shares of its common stock, which is necessary to facilitate the company&#8217;s 50-for-1 stock split. This will be one of the biggest stock splits in New York Stock Exchange (NYSE) history.</p>
<p>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. Chipotle&#8217;s shares will begin trading on a post-split basis at the market open on Wednesday, June 26, 2024.</p>
<p>&#8220;We believe the stock split will make our stock more accessible to our employees as well as a broader range of investors,&#8221; said Jack Hartung, Chief Financial and Administrative Officer, Chipotle. &#8220;With this historic decision, we&#8217;ll be better able to reward our team members and empower them to have ownership in our company.&#8221;</p>
<p>To commemorate this special event and in recognition of the company&#8217;s strong performance, Chipotle announced a special one-time equity grant for all restaurant general managers as well as crew members with more than 20 years of service.</p>
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