In a move aimed at making their stock more accessible to a broader range of investors and rewarding long-term employees, the Mexican fast-casual chain Chipotle has announced a stock split and special equity grants for certain staff members.

According to Jack Hartung, the company's chief financial and administrative officer, the stock split will not affect existing investments for current shareholders. Instead, it will increase accessibility for employees and a wider pool of investors. Shareholders who held shares as of June 18 can expect to receive an additional 49 shares for each share held. The distribution of these additional shares is set to occur after the markets close on June 25. Following this, trading on a post-split basis will commence on June 26.

Alongside the stock split, Chipotle revealed its plan to offer a one-time equity grant to restaurant general managers and crew members who have dedicated over 20 years of service to the chain. This move aims to empower employees by allowing them to have ownership in the company. Hartung expressed excitement over this decision, highlighting the positive impact it would have on team members.

Chipotle had originally announced the stock split decision in March, with CEO Brian Niccol disclosing the company's plans to introduce a guacamole prepping robot, aptly named "Autocado." In April, Niccol revealed that the robot would be deployed in select busy locations. Additionally, despite a 7% increase in menu prices, customers continued to show enthusiasm for Chipotle's offerings, with burritos and bowls filled with popular options like braised beef barbacoa and al pastor chicken driving sales.

However, the company has faced its fair share of challenges, both on social media and internally. In April, Chipotle asked employees to choose alternative protein options to cope with the surge in demand for chicken. Furthermore, in May, Niccol took to social media to address claims that the chain was providing smaller portion sizes.

With the stock split and equity grants, Chipotle aims to enhance employee rewards and create a sense of ownership within the company. As the distribution of additional shares approaches, the fast-casual giant looks forward to the potential benefits these initiatives will bring to both investors and dedicated team members.