Summary
Chipotle Mexican Grill, Inc. (CMG) has filed an 8-K detailing the 2025 compensation package for its newly appointed Chief Executive Officer, Scott Boatwright. This filing formalizes his compensation following his promotion from Interim CEO, reflecting an increased base salary and significantly higher annual incentive and equity award opportunities. The compensation structure is designed to align with his expanded responsibilities and is subject to ongoing review by the Compensation, People and Culture Committee.
Key Highlights
- 1Scott Boatwright's annual base salary for 2025 is set at $1,100,000, an increase from $1,000,000 as Interim CEO.
- 2His annual cash incentive target has been raised to 200% of base salary, up from 115% as Interim CEO.
- 3Mr. Boatwright will be eligible for annual equity awards valued at $13,000,000 starting in 2025.
- 4The compensation package reflects his formal promotion to Chief Executive Officer.
- 5He will continue to participate in executive severance plans and receive other standard senior executive benefits.
- 6The compensation is subject to periodic review and adjustment by the Compensation, People and Culture Committee.
Frequently Asked Questions
This 8-K filing announces the 2025 compensation package for Chipotle's Chief Executive Officer, Scott Boatwright, formalizing his remuneration following his promotion to the permanent CEO role.
His base salary increased to $1,100,000, his annual incentive target rose to 200% of base salary, and he will now be eligible for annual equity awards valued at $13,000,000. These changes reflect his permanent CEO position and increased responsibilities.
While the base salary is set, the cash incentive and equity awards are subject to eligibility and the terms of Chipotle's equity plans. Furthermore, his compensation is subject to review and adjustment by the Compensation, People and Culture Committee.
Yes, he will continue to participate in Chipotle's executive severance plans and receive other employee benefits generally provided to the company's senior executive officers.