CHIPOTLE MEXICAN GRILL INC — Director's Dealing 2020

Jan 10, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CHIPOTLE MEXICAN GRILL INC (CMG)
CIK: 0001058090
Period of Report: 2020-01-09

Reporting Person: Niccol Brian R (Director, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-01-09	common stock	M	8500	$352.18	Acquired	33659	Direct
2020-01-09	common stock	F	3422	$874.90	Disposed	30237	Direct
2020-01-09	common stock	S	5078	$874.90	Disposed	25159	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-01-09	2018 Make-Whole SOSAR	$352.18	M	8500	Disposed	2020-07-31	common stock (8500)	Direct

Footnotes

F1: These stock appreciation rights exercises and sales were 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.