CMG

SEC source: 0001209191-20-001070 · doc4.xml · derivative · entry 4

Niccol Brian R · CIK 0001628588 · Director · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 44,236

Underlying: common stock · 1,475 shares

Expires 2025-03-05

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: 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.

SEC source: 0001209191-20-001070 · doc4.xml · nonDerivative · entry 3

Niccol Brian R · CIK 0001628588 · Director · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,159

F1 · kind: 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.

F3 · price: Reflects a weighted-average price. Actual sales prices ranged from $842.62 to $843.13 per share. The filing person undertakes to furnish to the issuer, any requesting shareholder of the issuer, or the staff of the Securities and Exchange Commission complete information regarding the number of shares sold at each separate price

SEC source: 0001209191-20-001070 · doc4.xml · nonDerivative · entry 2

Niccol Brian R · CIK 0001628588 · Director · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,933

F2 · kind: Consists of shares of common stock retained by Chipotle to satisfy the reporting person's payment obligation upon exercise of the stock appreciation right.

SEC source: 0001209191-20-001070 · doc4.xml · nonDerivative · entry 1

Niccol Brian R · CIK 0001628588 · Director · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 26,634

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: 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.

SEC source: 0001209191-19-059048 · doc4.xml · derivative · entry 4

Niccol Brian R · CIK 0001628588 · Director · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 45,711

Underlying: Common Stock · 1,475 shares

Expires 2025-03-05

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: 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.

SEC source: 0001209191-19-059048 · doc4.xml · nonDerivative · entry 3

Niccol Brian R · CIK 0001628588 · Director · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,159

F1 · kind: 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.

SEC source: 0001209191-19-059048 · doc4.xml · nonDerivative · entry 2

Niccol Brian R · CIK 0001628588 · Director · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,908

F2 · kind: Consists of shares of common stock retained by Chipotle to satisfy the reporting person's payment obligation upon exercise of the stock appreciation right.

SEC source: 0001209191-19-059048 · doc4.xml · nonDerivative · entry 1

Niccol Brian R · CIK 0001628588 · Director · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 26,634

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: 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.

SEC source: 0001209191-19-055191 · doc4.xml · derivative · entry 4

Niccol Brian R · CIK 0001628588 · Director · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 47,186

Underlying: common stock · 1,475 shares

Expires 2025-03-05

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: 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.

SEC source: 0001209191-19-055191 · doc4.xml · nonDerivative · entry 3

Niccol Brian R · CIK 0001628588 · Director · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,159

F1 · kind: 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.

SEC source: 0001209191-19-055191 · doc4.xml · nonDerivative · entry 2

Niccol Brian R · CIK 0001628588 · Director · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,875

F2 · kind: Consists of shares of common stock retained by Chipotle to satisfy the reporting person's payment obligation upon exercise of the stock appreciation right.

SEC source: 0001209191-19-055191 · doc4.xml · nonDerivative · entry 1

Niccol Brian R · CIK 0001628588 · Director · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 26,634

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: 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.

SEC source: 0001209191-19-052202 · doc4.xml · derivative · entry 4

Niccol Brian R · CIK 0001628588 · Director · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 48,661

Underlying: common stock · 1,475 shares

Expires 2025-03-05

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: 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.

SEC source: 0001209191-19-052202 · doc4.xml · nonDerivative · entry 3

Niccol Brian R · CIK 0001628588 · Director · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,159

F1 · kind: 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.

SEC source: 0001209191-19-052202 · doc4.xml · nonDerivative · entry 2

Niccol Brian R · CIK 0001628588 · Director · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,931

F2 · kind: Consists of shares of common stock retained by Chipotle to satisfy the reporting person's payment obligation upon exercise of the stock appreciation right.

SEC source: 0001209191-19-052202 · doc4.xml · nonDerivative · entry 1

Niccol Brian R · CIK 0001628588 · Director · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 26,634

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: 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.

SEC source: 0000899243-19-024343 · doc4.xml · nonDerivative · entry 2

Pershing Square Capital Management, L.P. · CIK 0001336528 · Director

PS Management GP, LLC · CIK 0001336477 · Director

ACKMAN WILLIAM A · CIK 0001056513 · Director

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 1,724,310

F4 · kind: This Form 4 is being filed as a result of sales related to portfolio management. Common Stock was sold in open market transactions pursuant to a Rule 10b5-1 plan under the Securities Exchange Act of 1934 (as amended) for the accounts of PS and PS International. PSH did not sell any Common Stock.

F4 · shares: This Form 4 is being filed as a result of sales related to portfolio management. Common Stock was sold in open market transactions pursuant to a Rule 10b5-1 plan under the Securities Exchange Act of 1934 (as amended) for the accounts of PS and PS International. PSH did not sell any Common Stock.

F4 · price: This Form 4 is being filed as a result of sales related to portfolio management. Common Stock was sold in open market transactions pursuant to a Rule 10b5-1 plan under the Securities Exchange Act of 1934 (as amended) for the accounts of PS and PS International. PSH did not sell any Common Stock.

F4 · acquired: This Form 4 is being filed as a result of sales related to portfolio management. Common Stock was sold in open market transactions pursuant to a Rule 10b5-1 plan under the Securities Exchange Act of 1934 (as amended) for the accounts of PS and PS International. PSH did not sell any Common Stock.

F4 · balance_after: This Form 4 is being filed as a result of sales related to portfolio management. Common Stock was sold in open market transactions pursuant to a Rule 10b5-1 plan under the Securities Exchange Act of 1934 (as amended) for the accounts of PS and PS International. PSH did not sell any Common Stock.

F1 · ownership.nature: In addition to Pershing Square Capital Management, L.P., a Delaware limited partnership ("Pershing Square"), this Form 4 is being filed jointly by PS Management GP, LLC, a Delaware limited liability company ("PS Management"), and William A. Ackman, a citizen of the United States of America (collectively, the "Reporting Persons"), each of whom has the same business address as Pershing Square and may be deemed to have a pecuniary interest in securities reported on this Form 4 (the "Subject Securities").

F2 · ownership.nature: Pershing Square advises the accounts of Pershing Square, L.P., a Delaware limited partnership ("PS"), Pershing Square International, Ltd., a Cayman Islands exempted company ("PS International"), and Pershing Square Holdings, Ltd., a limited liability company incorporated in Guernsey ("PSH" and together with PS and PS International, the "Pershing Square Funds").

F3 · ownership.nature: Pershing Square, as the investment adviser to the Pershing Square Funds, may be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934. As the general partner of Pershing Square, PS Management may be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a). By virtue of Mr. Ackman's position as Chief Executive Officer of Pershing Square and managing member of PS Management, Mr. Ackman may be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a). Each of the Reporting Persons disclaims any beneficial ownership of any of the Subject Securities, except to the extent of any pecuniary interest therein.

F4 · ownership.nature: This Form 4 is being filed as a result of sales related to portfolio management. Common Stock was sold in open market transactions pursuant to a Rule 10b5-1 plan under the Securities Exchange Act of 1934 (as amended) for the accounts of PS and PS International. PSH did not sell any Common Stock.

F5 · ownership.nature: The Reporting Persons disclaim being directors by deputization for purposes of Section 16 of the Securities Exchange Act of 1934.

SEC source: 0000899243-19-024343 · doc4.xml · nonDerivative · entry 1

Pershing Square Capital Management, L.P. · CIK 0001336528 · Director

PS Management GP, LLC · CIK 0001336477 · Director

ACKMAN WILLIAM A · CIK 0001056513 · Director

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 1,753,510

F4 · kind: This Form 4 is being filed as a result of sales related to portfolio management. Common Stock was sold in open market transactions pursuant to a Rule 10b5-1 plan under the Securities Exchange Act of 1934 (as amended) for the accounts of PS and PS International. PSH did not sell any Common Stock.

F4 · shares: This Form 4 is being filed as a result of sales related to portfolio management. Common Stock was sold in open market transactions pursuant to a Rule 10b5-1 plan under the Securities Exchange Act of 1934 (as amended) for the accounts of PS and PS International. PSH did not sell any Common Stock.

F4 · price: This Form 4 is being filed as a result of sales related to portfolio management. Common Stock was sold in open market transactions pursuant to a Rule 10b5-1 plan under the Securities Exchange Act of 1934 (as amended) for the accounts of PS and PS International. PSH did not sell any Common Stock.

F4 · acquired: This Form 4 is being filed as a result of sales related to portfolio management. Common Stock was sold in open market transactions pursuant to a Rule 10b5-1 plan under the Securities Exchange Act of 1934 (as amended) for the accounts of PS and PS International. PSH did not sell any Common Stock.

F4 · balance_after: This Form 4 is being filed as a result of sales related to portfolio management. Common Stock was sold in open market transactions pursuant to a Rule 10b5-1 plan under the Securities Exchange Act of 1934 (as amended) for the accounts of PS and PS International. PSH did not sell any Common Stock.

F1 · ownership.nature: In addition to Pershing Square Capital Management, L.P., a Delaware limited partnership ("Pershing Square"), this Form 4 is being filed jointly by PS Management GP, LLC, a Delaware limited liability company ("PS Management"), and William A. Ackman, a citizen of the United States of America (collectively, the "Reporting Persons"), each of whom has the same business address as Pershing Square and may be deemed to have a pecuniary interest in securities reported on this Form 4 (the "Subject Securities").

F2 · ownership.nature: Pershing Square advises the accounts of Pershing Square, L.P., a Delaware limited partnership ("PS"), Pershing Square International, Ltd., a Cayman Islands exempted company ("PS International"), and Pershing Square Holdings, Ltd., a limited liability company incorporated in Guernsey ("PSH" and together with PS and PS International, the "Pershing Square Funds").

F3 · ownership.nature: Pershing Square, as the investment adviser to the Pershing Square Funds, may be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934. As the general partner of Pershing Square, PS Management may be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a). By virtue of Mr. Ackman's position as Chief Executive Officer of Pershing Square and managing member of PS Management, Mr. Ackman may be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a). Each of the Reporting Persons disclaims any beneficial ownership of any of the Subject Securities, except to the extent of any pecuniary interest therein.

F4 · ownership.nature: This Form 4 is being filed as a result of sales related to portfolio management. Common Stock was sold in open market transactions pursuant to a Rule 10b5-1 plan under the Securities Exchange Act of 1934 (as amended) for the accounts of PS and PS International. PSH did not sell any Common Stock.

F5 · ownership.nature: The Reporting Persons disclaim being directors by deputization for purposes of Section 16 of the Securities Exchange Act of 1934.

SEC source: 0001209191-19-049215 · doc4.xml · derivative · entry 4

Garner Curtis E · CIK 0001641487 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,000

Underlying: common stock · 2,500 shares

Expires 2023-04-27

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

SEC source: 0001209191-19-049215 · doc4.xml · nonDerivative · entry 3

Garner Curtis E · CIK 0001641487 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,780

SEC source: 0001209191-19-049215 · doc4.xml · nonDerivative · entry 2

Garner Curtis E · CIK 0001641487 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,052

F1 · kind: Consists of shares of common stock retained by Chipotle to satisfy the reporting person's payment obligation upon exercise of the stock appreciation right.

SEC source: 0001209191-19-049215 · doc4.xml · nonDerivative · entry 1

Garner Curtis E · CIK 0001641487 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 7,280

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

SEC source: 0001209191-19-049213 · doc4.xml · derivative · entry 4

Niccol Brian R · CIK 0001628588 · Director · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 95,340

Underlying: common stock · 7,500 shares

Expires 2025-03-05

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: 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.

SEC source: 0001209191-19-049213 · doc4.xml · nonDerivative · entry 3

Niccol Brian R · CIK 0001628588 · Director · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,159

F1 · kind: 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.

SEC source: 0001209191-19-049213 · doc4.xml · nonDerivative · entry 2

Niccol Brian R · CIK 0001628588 · Director · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 29,551

F2 · kind: Consists of shares of common stock retained by Chipotle to satisfy the reporting person's payment obligation upon exercise of the stock appreciation right.

SEC source: 0001209191-19-049213 · doc4.xml · nonDerivative · entry 1

Niccol Brian R · CIK 0001628588 · Director · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 32,659

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: 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.

SEC source: 0001209191-19-048803 · doc4.xml · derivative · entry 4

Garner Curtis E · CIK 0001641487 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 7,500

Underlying: common stock · 2,500 shares

Expires 2023-04-27

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

SEC source: 0001209191-19-048803 · doc4.xml · nonDerivative · entry 3

Garner Curtis E · CIK 0001641487 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,780

F2 · price: Reflects a weighted-average price. Actual sales prices ranged from $835.90 to $836.09 per share. The filing person undertakes to furnish to the issuer, any requesting shareholder of the issuer, or the staff of the Securities and Exchange Commission complete information regarding the number of shares sold at each separate price

SEC source: 0001209191-19-048803 · doc4.xml · nonDerivative · entry 2

Garner Curtis E · CIK 0001641487 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,033

F1 · kind: Consists of shares of common stock retained by Chipotle to satisfy the reporting person's payment obligation upon exercise of the stock appreciation right.

SEC source: 0001209191-19-048803 · doc4.xml · nonDerivative · entry 1

Garner Curtis E · CIK 0001641487 · Chief Technology Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 7,280

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

SEC source: 0001209191-19-048536 · doc4.xml · derivative · entry 4

Niccol Brian R · CIK 0001628588 · Director · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 50,136

Underlying: common stock · 1,475 shares

Expires 2025-03-05

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: 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.

SEC source: 0001209191-19-048536 · doc4.xml · nonDerivative · entry 3

Niccol Brian R · CIK 0001628588 · Director · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,159

F1 · kind: 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.

F3 · price: Reflects a weighted-average price. Actual sales prices ranged from $833.00 to $833.09 per share. The filing person undertakes to furnish to the issuer, any requesting shareholder of the issuer, or the staff of the Securities and Exchange Commission complete information regarding the number of shares sold at each separate price

SEC source: 0001209191-19-048536 · doc4.xml · nonDerivative · entry 2

Niccol Brian R · CIK 0001628588 · Director · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,929

F2 · kind: Consists of shares of common stock retained by Chipotle to satisfy the reporting person's payment obligation upon exercise of the stock appreciation right.

SEC source: 0001209191-19-048536 · doc4.xml · nonDerivative · entry 1

Niccol Brian R · CIK 0001628588 · Director · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 26,634

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: 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.

SEC source: 0001209191-19-047737 · doc4.xml · derivative · entry 5

Hartung Jack · CIK 0001350874 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: common stock · 5,000 shares

Expires 2021-02-03

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: 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.

SEC source: 0001209191-19-047737 · doc4.xml · nonDerivative · entry 3

Hartung Jack · CIK 0001350874 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 35,237

F1 · kind: 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.

SEC source: 0001209191-19-047737 · doc4.xml · nonDerivative · entry 2

Hartung Jack · CIK 0001350874 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 36,999

F2 · kind: Consists of shares of common stock retained by Chipotle to satisfy the reporting person's payment obligation upon exercise of the stock appreciation right.

SEC source: 0001209191-19-047737 · doc4.xml · nonDerivative · entry 1

Hartung Jack · CIK 0001350874 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 40,237

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: 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.

SEC source: 0001209191-19-047301 · doc4.xml · derivative · entry 5

Hartung Jack · CIK 0001350874 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,000

Underlying: common stock · 5,000 shares

Expires 2021-02-03

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: 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.

SEC source: 0001209191-19-047301 · doc4.xml · nonDerivative · entry 3

Hartung Jack · CIK 0001350874 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 35,237

F1 · kind: 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.

SEC source: 0001209191-19-047301 · doc4.xml · nonDerivative · entry 2

Hartung Jack · CIK 0001350874 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 36,964

F2 · kind: Consists of shares of common stock retained by Chipotle to satisfy the reporting person's payment obligation upon exercise of the stock appreciation right.

SEC source: 0001209191-19-047301 · doc4.xml · nonDerivative · entry 1

Hartung Jack · CIK 0001350874 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 40,237

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: 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.

SEC source: 0001209191-19-047006 · doc4.xml · derivative · entry 8

Niccol Brian R · CIK 0001628588 · Director · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 102,840

Underlying: common stock · 3,117 shares

Expires 2025-03-05

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: 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.

SEC source: 0001209191-19-047006 · doc4.xml · nonDerivative · entry 6

Niccol Brian R · CIK 0001628588 · Director · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,159

F1 · kind: 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.

SEC source: 0001209191-19-047006 · doc4.xml · nonDerivative · entry 5

Niccol Brian R · CIK 0001628588 · Director · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 26,945

F2 · kind: Consists of shares of common stock retained by Chipotle to satisfy the reporting person's payment obligation upon exercise of the stock appreciation right.

SEC source: 0001209191-19-047006 · doc4.xml · nonDerivative · entry 4

Niccol Brian R · CIK 0001628588 · Director · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,276

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: 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.

SEC source: 0001209191-19-047006 · doc4.xml · derivative · entry 7

Niccol Brian R · CIK 0001628588 · Director · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 105,957

Underlying: common stock · 3,383 shares

Expires 2025-03-05

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: 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.

SEC source: 0001209191-19-047006 · doc4.xml · nonDerivative · entry 3

Niccol Brian R · CIK 0001628588 · Director · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,159

F1 · kind: 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.

SEC source: 0001209191-19-047006 · doc4.xml · nonDerivative · entry 2

Niccol Brian R · CIK 0001628588 · Director · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 27,097

F2 · kind: Consists of shares of common stock retained by Chipotle to satisfy the reporting person's payment obligation upon exercise of the stock appreciation right.

SEC source: 0001209191-19-047006 · doc4.xml · nonDerivative · entry 1

Niccol Brian R · CIK 0001628588 · Director · Chief Executive Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,542

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: 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.