Scott Boatwright - Jul 22, 2021 Form 4 Insider Report for CHIPOTLE MEXICAN GRILL INC (CMG)

Role: Chief Restaurant Officer
Signature: /s/ Helen Kaminski, pursuant to power of attorney previously filed
Stock symbol: CMG
Transactions as of: Jul 22, 2021
Transactions value $: -$5,822,400
Form type: 4
Date filed: 7/23/2021, 04:19 PM
Previous filing: Jul 14, 2021
Next filing: Aug 13, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CMG	common stock	Options Exercise	$1.48M	+4.18K	+35.18%	$355.42	16.1K	Jul 22, 2021	Direct
transaction	CMG	common stock	Tax liability	-$1.49M	-846	-5.27%	$1,755.99	15.2K	Jul 22, 2021	Direct	F1
transaction	CMG	common stock	Sale	-$5.82M	-3.33K	-21.91%	$1,747.65	11.9K	Jul 22, 2021	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CMG	2018 SOSAR	Options Exercise	$0	-4.18K	-100%	$0.00^*	0	Jul 22, 2021	common stock	4.18K	$355.42	Direct

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Consists of shares of common stock retained by Chipotle to satisfy the reporting person's payment obligation upon exercise of the stock appreciation right.