Chipotle Insider's $5.1M Stock Dump Follows Series of Executive Sales

Rhea-AI Filing Summary

Chipotle Mexican Grill insider Curtis E. Garner has filed Form 144 indicating a proposed sale of 94,500 shares of common stock with an aggregate market value of $5,164,425. The sale is to be executed through J.P. Morgan Securities LLC on the NYSE, with an approximate sale date of June 25, 2025.

The shares to be sold were acquired as compensation in two tranches:

• 55,500 shares acquired on January 5, 2021
• 39,000 shares acquired on February 8, 2022

Recent trading activity by Garner includes two previous sales in the past 3 months:

• 23,134 shares sold on May 21, 2025 for $1,176,232
• 23,302 shares sold on June 4, 2025 for $1,214,894

The filing indicates Chipotle has approximately 1.35 billion shares outstanding. This proposed sale represents about 0.007% of total shares outstanding.

Positive

• None.

Negative

• CFO Curtis Garner plans to sell 94,500 shares worth approximately $5.16M, representing significant insider selling activity following recent sales of over $2.39M in May-June 2025

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common Stock	J.P. Morgan Securities LLC 390 Madison Avenue, 6th Floor New York NY 10017	94500	5164425	1347364000	06/25/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common Stock	01/05/2021	Compensation	Issuer			55500	01/05/2021	Compensation
Common Stock	02/08/2022	Compensation	Issuer			39000	02/08/2022	Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Curtis E. Garner C/o Chipotle Mexican Grill, Inc. 610 Newport Center Drive, Suite 1100 Newport Beach CA 92660	Common Stock	05/21/2025	23134	1176232
Curtis E. Garner C/o Chipotle Mexican Grill, Inc. 610 Newport Center Drive, Suite 1100 Newport Beach CA 92660	Common Stock	06/04/2025	23302	1214894

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How many CMG shares are being sold according to the June 2025 Form 144 filing?

According to the Form 144 filing, 94,500 shares of CMG common stock are proposed to be sold through J.P. Morgan Securities LLC, with an aggregate market value of $5,164,425.

Who is selling CMG shares in this Form 144 filing from June 2025?

Curtis E. Garner, who has previously sold CMG shares in May and June 2025, is the seller. His previous sales included 23,134 shares on May 21, 2025 ($1,176,232 proceeds) and 23,302 shares on June 4, 2025 ($1,214,894 proceeds).

How did the seller acquire the CMG shares being sold?

The shares were acquired as compensation from the issuer (Chipotle) in two tranches: 55,500 shares on January 5, 2021, and 39,000 shares on February 8, 2022.

What is the total market value of CMG shares proposed for sale in the June 2025 Form 144?

The aggregate market value of the CMG shares proposed for sale is $5,164,425.

What is CMG's total shares outstanding according to the June 2025 Form 144?

According to the Form 144 filing, Chipotle Mexican Grill (CMG) has 1,347,364,000 shares outstanding.