Chipotle Mexican (CMG) To Convert Class B Stock into a Single Class
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Chipotle Mexican Grill, Inc. (NYSE: CMG) (NYSE: CMG.B) announced that its Board of Directors has authorized and will recommend that shareholders approve a proposal to convert all outstanding shares of the company’s Class B common stock into shares of Class A common stock on a one-for-one basis, and rename the Class A common stock as "common stock."
The conversion proposal will require the affirmative vote of the holders of a majority of the voting power of the Class A common stock and Class B common stock voting as a single class, as well as the affirmative vote of the holders of a majority of the Class B common stock voting as a separate class.
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