Heavy pay cut for Chipotle's bosses

|About: Chipotle Mexican Grill, Inc. (CMG)|By:, SA News Editor

Chipotle (NYSE:CMG) executives now have an even more direct personal stake in the burrito maker's recovery: their pay.

According to a new securities filing, the company will grant future stock awards, if its share price rises back to $700 for 30 consecutive days, which is nearly a 38% jump from its current stock price of $507.

Chipotle also shaved the 2015 compensation for both its co-CEOs. Total pay for Monty Moran and Steve Ells last year fell by more than 50% each to $13.3M and $13.6M, respectively, and they didn't receive any bonuses.

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