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Steve Ells is a notable figure in the restaurant industry, best known for founding Chipotle Mexican Grill in 1993, which introduced the concept of "food with integrity." With a Bachelor of Arts degree in English from the University of Colorado...

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Steve Ells

Founder and Ex-CEO of Chipotle Mexican Grill

Education

Bachelor of Arts in English from the University of Colorado Boulder

Field of Expertise

Business & Management

Sector of Economy

Consumer Cyclical

Born

September 15, 1963 - 61 years ago

CEO of Chipotle Mexican Grill for

10 years 11 months (Jan 2006 - Dec 2016)

Previous Experience

Founder, Chairman and Co-Chief Executive Officer of Chipotle Mexican Grill, Inc.

Holdings

See how much did Steve Ells make over time.

Steve Ells has seen substantial fluctuations in his holdings throughout his time at Chipotle. At his peak in 2014, his fortune was significantly bolstered by stock options worth approximately $28 million, reflecting his leadership during a time of growth for...

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Total Stock Sold

$312.63M

CMG

$312.63M

30,970,000 CMG shares

What if they kept their stock?

If Steve Ells didn't sell their stock, today they would have:
Extra CMG30,970,000 shares worth $674.48M.
This is 115.74% and $361.85M more than what they got when they sold the stock.

Charitable Transactions

CMG

5,633,700 shares

CMG

Recent Charitable Transactions

CMG

112,674 shares

CMG

Jul 25, 2013

Charity

Insider Trading

See recent insider trades of Steve Ells.

CMG

48,904 shares

CMG

Feb 26, 2020

Received

CMG

$22.38M

CMG at $794.29/share

Aug 1, 2019

Sale

CMG

$21.97M

CMG at $803.32/share

Jul 29, 2019

Sale

CMG

11,537 shares

CMG

Mar 15, 2018

Received

CMG

$9.25M

CMG at $440.65/share

May 31, 2016

Sale

CMG

$7.02M

CMG at $695.91/share

Jul 22, 2015

Sale

CMG

$18.53M

CMG at $629.77/share

May 21, 2015

Sale

CMG

$372.42K

CMG at $633.36/share

May 21, 2015

Sale

CMG

$1.03M

CMG at $635.40/share

May 18, 2015

Sale

Compensation History

See how much did Steve Ells make over time.

In his role as CEO, Steve Ells experienced varying compensation packages that reflected both his performance and the company's fortunes. His income peaked in 2014 at around $28.9 million, driven primarily by bonuses and stock options. However, he faced significant challenges, including no bonuses awarded in 2015 and 2016 due to public health incidents and corporate underperformance. For example, in 2016, he earned around $1.78 million, with no stock options vesting, reflecting a culture of pay for performance. This meant his total earnings in years of strong performance were substantially higher than during downturns. Overall, his compensation was structured to incentivize shareholder alignment, oscillating based on company success, showing a commitment to tying executive rewards to the health of the business.

Year

2016

Total Compensation

$1.66M

Salary

$1.54M

Board Justification

The compensation philosophy emphasizes performance and accountability, aligning executive compensation with shareholder interests and rewarding achievement of strategic goals.

Bonus

$0.00

Board Justification

Due to underperformance against the AIP performance metrics in 2016, no AIP bonuses were awarded to executive officers, including the CEO.

Other

$120.36K

Board Justification

Includes matching contributions to retirement plans and other benefits.

Restricted Stock

$0.00(0 Performance Shares)

Board Justification

No stock awards vested in 2016 as the performance metrics were not met, resulting in zero realizable value for the performance share awards.

Performance Metrics

Performance metrics for 2016 included company performance factors, team performance factors, and individual performance factors, with a final company performance factor of 0% due to significant underperformance.

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Here are other CEOs of Chipotle Mexican Grill