CHIPOTLE MEXICAN GRILL INC
For the period ended Jun 11, 2025. Filed Apr 25, 2025.
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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
Jun 11, 2025 · Filed Apr 25, 2025
CMG$34.43-2.7%Stored close · as of Nov 6, 2026
Contents
Executive Compensation Program Components and Structures
Our ongoing annual executive compensation program is comprised of three primary components:
| Base Salary | Annual Incentive Plan | Equity Compensation |
| Purpose: Attract and retain executives and provide a competitive fixed compensation element.Key features: Determined based on the position’s importance within Chipotle and impact on the business, the executive’s experience and external market data. | Purpose: Incentivize achievement of annual financial, operating, brand purpose and individual goals.Key features: Our 2024 AIP provided for variable cash payouts based on achievement against quantitative operating, financial performance and brand purpose goals approved by the Committee at the beginning of each year as well as evaluations of performance against individual goals and objectives. Payouts may be reduced based on food safety performance. | Purpose: Align the incentives of our executive officers with shareholder interests and reward the creation of shareholder value.Key features: Our LTI mix for 2024 was 60% PSUs with a three-year performance period, 20% seven-year term stock only stock appreciation rights (“SOSARs”) that vest in two equal installments on the 2nd and 3rd anniversaries of the grant date, and 20% in either SOSARs or RSUs, at the executive’s election, that vest in two equal installments on the 2nd and 3rd anniversaries of the grant date. For 2024, most executives elected to receive SOSARs, resulting in LTI value being granted 60% in PSUs and 40% in SOSARs. |
42 | 2025 Proxy Statement
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