Brian R. Niccol - 06 Aug 2021 Form 4 Insider Report for CHIPOTLE MEXICAN GRILL INC (CMG)

Role: Chairman, CEO, Director
Signature: /s/ Helen Kaminski, pursuant to power of attorney previously filed
Issuer symbol: CMG
Transactions as of: 06 Aug 2021
Net transactions value: -$189,296
Form type: 4
Filing time: 10 Aug 2021, 16:38:24 UTC
Previous filing: 06 Aug 2021
Next filing: 24 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	$38,773	+120	+0.44%	$323.11	27,644	06 Aug 2021	Direct	F1
transaction	CMG	common stock	Tax liability	$37,998	-20	-0.07%	$1899.90	27,624	06 Aug 2021	Direct	F2
transaction	CMG	common stock	Sale	$190,071	-100	-0.36%	$1900.71	27,524	06 Aug 2021	Direct	F1

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	-120	-6.1%	$0.000000	1,853	06 Aug 2021	common stock	120	$323.11	Direct	F1

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

Explanation of Responses:

Id	Content
F1	This stock appreciation rights exercise and sale was executed under the terms of a Sales Plan intended to comply with Rule 10b5-1 under the Securities and Exchange Act of 1934, as amended.
F2	Consists of shares of common stock retained by Chipotle to satisfy the reporting person's payment obligation upon exercise of the stock appreciation right.