Scott Boatwright - 22 Jul 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
Issuer symbol: CMG
Transactions as of: 22 Jul 2021
Net transactions value: -$5,822,400
Form type: 4
Filing time: 23 Jul 2021, 16:19:45 UTC
Previous filing: 14 Jul 2021
Next filing: 13 Aug 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CMG	common stock	Options Exercise	$1,484,589	+4,177	+35%	$355.42	16,050	22 Jul 2021	Direct
transaction	CMG	common stock	Tax liability	$1,485,568	-846	-5.3%	$1755.99	15,204	22 Jul 2021	Direct	F1
transaction	CMG	common stock	Sale	$5,821,422	-3,331	-22%	$1747.65	11,873	22 Jul 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	-4,177	-100%	$0.000000^*	0	22 Jul 2021	common stock	4,177	$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.