Christopher W. Brandt - 07 Feb 2025 Form 4 Insider Report for CHIPOTLE MEXICAN GRILL INC (CMG)

Role: Chief Brand Officer
Signature: /s/ Helen Kaminski, pursuant to power of attorney previously filed
Issuer symbol: CMG
Transactions as of: 07 Feb 2025
Net transactions value: +$570,722
Form type: 4
Filing time: 11 Feb 2025, 16:17:16 UTC
Previous filing: 24 Jan 2025
Next filing: 18 Feb 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CMG	common stock	Award	$1,000,049	+17,462	+9.7%	$57.27	196,576	07 Feb 2025	Direct	F1
transaction	CMG	common stock	Tax liability	$429,327	-7,490	-3.8%	$57.32	189,086	09 Feb 2025	Direct	F2

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	2025 SOSAR	Award	$0	+55,006		$0.000000	55,006	07 Feb 2025	common stock	55,006	$57.27	Direct	F3

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

Explanation of Responses:

Id	Content
F1	Represents an award of restricted stock units (RSU) that will vest in equal amounts on the second and third anniversary of the grant date, subject to possible acceleration of vesting. Upon exercise, the RSU settles in share of common stock on a 1-to-1 basis.
F2	Consists of shares of common stock retained by Chipotle to satisfy the reporting person's payment obligation upon the vesting of an RSU.
F3	The stock appreciation right (SOSAR) vests in equal amounts on the second and third anniversaries of the grant date, subject to possible acceleration of vesting. Upon exercise, the SOSAR settles in shares of common stock on a 1-to-1 basis.