CHIPOTLE MEXICAN GRILL INC — Director's Dealing 2021

Jul 23, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CHIPOTLE MEXICAN GRILL INC (CMG)
CIK: 0001058090
Period of Report: 2021-07-21

Reporting Person: Niccol Brian R (Director, Chairman, CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-07-21	common stock	M	12000	$352.18	Acquired	39524	Direct
2021-07-21	common stock	F	2487	$1699.90	Disposed	37037	Direct
2021-07-21	common stock	S	2609	$1700.2786	Disposed	34428	Direct
2021-07-21	common stock	S	3603	$1701.7585	Disposed	30825	Direct
2021-07-21	common stock	S	502	$1703.952	Disposed	30323	Direct
2021-07-21	common stock	S	885	$1706.4058	Disposed	29438	Direct
2021-07-21	common stock	S	844	$1707.579	Disposed	28594	Direct
2021-07-21	common stock	S	1070	$1709.0732	Disposed	27524	Direct
2021-07-22	common stock	M	12957	$352.18	Acquired	40481	Direct
2021-07-22	common stock	F	2536	$1799.90	Disposed	37945	Direct
2021-07-22	common stock	S	6416	$1800.1235	Disposed	31529	Direct
2021-07-22	common stock	S	2364	$1801.3801	Disposed	29165	Direct
2021-07-22	common stock	S	1521	$1802.8977	Disposed	27644	Direct
2021-07-22	common stock	S	20	$1803.99	Disposed	27624	Direct
2021-07-22	common stock	S	100	$1804.99	Disposed	27524	Direct
2021-07-23	common stock	M	1043	$352.18	Acquired	28567	Direct
2021-07-23	common stock	F	204	$1799.90	Disposed	28363	Direct
2021-07-23	common stock	S	530	$1800.0007	Disposed	27833	Direct
2021-07-23	common stock	S	73	$1801.8926	Disposed	27760	Direct
2021-07-23	common stock	S	227	$1802.5775	Disposed	27533	Direct
2021-07-23	common stock	S	9	$1806.09	Disposed	27524	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-07-21	2018 Make-Whole SOSAR	$352.18	M	12000	Disposed	2025-03-25	common stock (12000)	Direct
2021-07-22	2018 Make-Whole SOSAR	$352.18	M	12957	Disposed	2025-03-25	common stock (12957)	Direct
2021-07-23	2018 Make-Whole SOSAR	$352.18	M	1043	Disposed	2025-03-25	common stock (1043)	Direct

Footnotes

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.

F3: Reflects a weighted-average price. Actual sales prices ranged from $1,699.90 to $1,700.50 per share.

F4: Reflects a weighted-average price. Actual sales prices ranged from $1,701.00 to $1,701.89 per share.

F5: Reflects a weighted-average price. Actual sales prices ranged from $1,703.94 to $1,704.00 per share.

F6: Reflects a weighted-average price. Actual sales prices ranged from $1,706.245 to $1,706.81 per share.

F7: Reflects a weighted-average price. Actual sales prices ranged from $1,707.45 to $1,707.93 per share.

F8: Reflects a weighted-average price. Actual sales prices ranged from $1,709.00 to $1,709.09 per share.

F9: Reflects a weighted-average price. Actual sales prices ranged from $1,799.90 to $1,800.83 per share.

F10: Reflects a weighted-average price. Actual sales prices ranged from $1,800.97 to $1,801.92 per share.

F11: Reflects a weighted-average price. Actual sales prices ranged from $1,802.44 to $1,803.08 per share.

F12: Reflects a weighted-average price. Actual sales prices ranged from $1,799.90 to $1,800.40 per share.

F13: Reflects a weighted-average price. Actual sales prices ranged from $1,801.16 to $1,802.07 per share.

F14: Reflects a weighted-average price. Actual sales prices ranged from $1,802.51 to $1,802.69 per share.