Curtis E. Garner - 06 Feb 2026 Form 4 Insider Report for CHIPOTLE MEXICAN GRILL INC (CMG)

Role: Pres, Chief Strgy & Tech Off
Signature: /s/ Helen Kaminski, pursuant to power of attorney previously filed
Issuer symbol: CMG
Transactions as of: 06 Feb 2026
Net transactions value: -$2,469,866
Form type: 4
Filing time: 10 Feb 2026, 16:13:04 UTC
Previous filing: 12 Dec 2025
Next filing: 17 Feb 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Garner Curtis E	Pres, Chief Strgy & Tech Off	C/O CHIPOTLE MEXICAN GRILL, INC., 610 NEWPORT CENTER DRIVE, NEWPORT BEACH	/s/ Helen Kaminski, pursuant to power of attorney previously filed	10 Feb 2026	0001641487

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CMG	common stock	Options Exercise	$1,003,496	+86,100	+31%	$11.66	359,437	06 Feb 2026	Direct
transaction	CMG	common stock	Tax liability	$1,003,547	-25,023	-8.4%	$40.10	273,337	06 Feb 2026	Direct	F1
transaction	CMG	common stock	Sale	$2,443,856	-61,077	-17%	$40.01	298,360	06 Feb 2026	Direct	F2
transaction	CMG	common stock	Tax liability	$25,958	-659	-0.22%	$39.39	297,701	09 Feb 2026	Direct	F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CMG	2026 SOSAR	Award	$0	+213,992		$0.000000	213,992	06 Feb 2026	common stock	213,992	$39.39	Direct	F4
transaction	CMG	2019 SOSARs	Options Exercise	$0	-86,100	-100%	$0.000000	0	06 Feb 2026	common stock	86,100	$11.66	Direct	F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Consists of shares of common stock retained by Chipotle to satisfy the reporting person's payment obligation upon exercise of a stock appreciation rights (SOSAR).
F2	Reflects a weighted-average price. Actual sales prices ranged from $39.96 to $40.07 per share. For each transaction on this Form 4 that is reported at a weighted average price, the reporting 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.
F3	Consists of shares of common stock retained by Chipotle to satisfy the reporting person's payment obligation upon the vesting of a restricted stock unit.
F4	Represents an award of a SOSAR that will vest in equal amounts on the second and third anniversaries of the grant date, subject to possible acceleration of vesting. Upon exercise, the SOSAR settles in shares of common stock on a 1-to-1 basis.
F5	The SOSAR vested in equal amounts on the second and third anniversaries of the grant date.