Chipotle 2008 Annual Report Download - page 102

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Equity Award Vesting Upon Termination
Name
Termination
for Cause(1) or
Voluntary
Resignation
Without Good
Reason(2)
Voluntary
Resignation
with Good
Reason or
Termination
Without
Cause
Economic
Termination(3) Retirement(4)
Qualifying
Termination
Following
Change in
Control(5) Death/Disability(6)
Steve Ells
Stock Options/SOSARs (7) . . . — — $5,997,000 N/A $ 5,997,000 $5,997,000
Performance Shares ....... — — — N/A $ 2,578,368 —
Performance-Contingent
Restricted Stock ......... — $3,408,900 $3,408,900 N/A $ 3,408,900 $3,408,900
Total ............... $ 0 $3,408,900 $9,405,900 N/A $11,984,268 $9,405,900
Monty Moran
Stock Options/SOSARs (7) . . . — — $3,198,400 N/A $ 3,198,400 $3,198,400
Performance Shares ....... — — — N/A $ 1,884,192 —
Performance-Contingent
Restricted Stock ......... — $1,859,400 $1,859,400 N/A $ 1,859,400 $1,859,400
Total ............... $ 0 $1,859,400 $5,057,800 N/A $ 6,941,992 $5,057,800
Jack Hartung
Stock Options/SOSARs (7) . . . — — $1,919,040 $1,919,040 $ 1,919,040 $1,919,040
Performance Shares ....... — — — — $ 929,700 —
Performance-Contingent
Restricted Stock ......... — $1,239,600 $1,239,600 — $ 1,239,600 $1,239,600
Total ............... $ 0 $1,239,600 $3,158,640 $1,919,040 $ 4,088,340 $3,158,640
Bob Wilner
Stock Options/SOSARs (7) . . . — — $1,599,200 $1,599,200 $ 1,599,200 $1,599,200
Performance Shares ....... — — — — $ 464,850 —
Performance-Contingent
Restricted Stock ......... — $ 929,700 $ 929,700 — $ 929,700 $ 929,700
Total ............... $ 0 $ 929,700 $2,528,900 $1,599,200 $ 2,993,750 $2,528,900
Bob Blessing
Stock Options/SOSARs (7) . . . — — $ 799,600 $ 799,600 $ 799,600 $ 799,600
Performance Shares ....... — — — — $ 340,890 —
Performance-Contingent
Restricted Stock ......... — — — — — —
Total ............... $ 0 $ 0 $ 799,600 $ 799,600 $ 1,140,490 $ 799,600
Rex Jones
Stock Options/SOSARs (7) . . . — — $ 599,700 N/A $ 599,700 $ 599,700
Performance Shares ....... — — — N/A $ 340,890 —
Performance-Contingent
Restricted Stock ......... — — — N/A — —
Total ............... $ 0 $ 0 $ 599,700 N/A $ 940,590 $ 599,700
(1) In the event of termination for cause, as defined in the plan under which the award was granted, of the employment of the
holder of an equity award, all unvested equity awards, as well as vested stock options and SOSARs, terminate
immediately. “Cause” under our Amended and Restated 2006 Stock Incentive Plan generally means an award holder’s
failure to perform his or her duties, willful misconduct or gross negligence, breach of fiduciary duties to us, unauthorized
use of company information, or commission of a felony involving moral turpitude.
(2) Under our Amended and Restated 2006 Stock Incentive Plan, “good reason” generally means a reduction in an
employee’s responsibilities or pay, or a change by more than 30 miles in the location of an employee’s job.
(3) In the event of termination of the employment of an employee holding options or SOSARs as a result of a reduction in
force, downsizing, technology changes, a reorganization, or adverse economic or business conditions, any options or
SOSARs scheduled to vest on or before the first anniversary of the termination date vest immediately and any remaining
39
Proxy Statement