Denver (AP) Compensation for the chief executive of Denver-based Chipotle Mexican Grill nearly tripled to 7.3 million dollars in 2007, with more than half coming from stock and options.
That's according to a regulatory filing submitted today.
The increase came as the fast-casual restaurant chain posted a 70 percent increase in net income and continued to open new restaurants despite a challenging economic environment.
Last year, Chief Executive Officer Steve Ells received $557,692 in salary, 1.1 million dollars under a non-equity incentive plan, and 5.5 million dollars in stock options and grants.
Ells also received $66,151 in benefits, including $29,077 for a company car, $35,464 in matching 401k contributions, $1,332 for life insurance, and other expenses.