CMG Form 4: VP Controller granted 12,623 RSUs, ownership 16,933

Rhea-AI Filing Summary

Chipotle Mexican Grill (CMG) reported an insider equity award. An officer serving as Vice President, Controller reported an acquisition of 12,623 shares on 10/31/2025, tied to an award of restricted stock units granted in connection with the promotion.

The RSUs vest one‑third on each of the first, second and third anniversaries of the grant date, subject to possible acceleration. The transaction was recorded at a per‑share price of $31.69. After this award, the officer’s beneficial ownership stood at 16,933 shares, held directly.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Bush Matthew R

Role Controller, PAO

Type	Security	Shares	Price	Value
Grant/Award	common stock	12,623	$31.69	$400K

Holdings After Transaction: common stock — 16,933 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Bush Matthew R

(Last) (First) (Middle)

C/O CHIPOTLE MEXICAN GRILL, INC.

610 NEWPORT CENTER DR, SUITE 1100

(Street)

NEWPORT BEACH CA 92660

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CHIPOTLE MEXICAN GRILL INC [ CMG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Controller, PAO

3. Date of Earliest Transaction (Month/Day/Year)
10/31/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
common stock	10/31/2025		A(1)		12,623	A	$31.69	16,933	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents an award of restricted stock units granted in connection with the reporting person's promotion to Vice President, Controller. The award will vest 1/3rd on each of the first, second and third anniversaries of the grant date, subject to possible acceleration of vesting.

	/s/ Helen Kaminski, pursuant to power of attorney filed herewith	11/07/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Chipotle (CMG) disclose in this Form 4?

An officer reported an equity award linked to a promotion, acquiring 12,623 RSUs on 10/31/2025.

How many units were granted to the CMG officer and at what price?

The filing shows 12,623 units with a recorded per‑share price of $31.69.

What is the vesting schedule for the CMG RSU award?

The award vests 1/3 on each of the first, second, and third anniversaries of the grant date, subject to possible acceleration.

What is the officer’s beneficial ownership after the transaction?

Following the award, the officer beneficially owned 16,933 shares, held directly.

What was the transaction code reported on the CMG Form 4?

The transaction code was A (1), indicating an award or grant.

What position does the reporting person hold at CMG?

The reporting person is an officer: Vice President, Controller.