# EDGAR Filing Document

**Accession Number:** 0001058090
**File Stem:** 0001058090-25-000076
**Filing Date:** 2025-9
**Character Count:** 9949
**Document Hash:** e66bf9da6b8bc6fe69939441fcde3359
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001058090-25-000076.hdr.sgml**: 20250916

**ACCESSION NUMBER**: 0001058090-25-000076

**CONFORMED SUBMISSION TYPE**: 3

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250904

**FILED AS OF DATE**: 20250916

**DATE AS OF CHANGE**: 20250916

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Bush Matthew R
- **CENTRAL INDEX KEY:** 0002086140

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 3
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-32731
- **FILM NUMBER:** 251317447

**MAIL ADDRESS:**
- **STREET 1:** 610 NEWPORT CENTER DRIVE
- **STREET 2:** SUITE 1100
- **CITY:** NEWPORT BEACH
- **STATE:** CA
- **ZIP:** 92660
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CHIPOTLE MEXICAN GRILL INC
- **CENTRAL INDEX KEY:** 0001058090
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-EATING PLACES [5812]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 841219301
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 610 NEWPORT CENTER DR
- **STREET 2:** SUITE 1100
- **CITY:** NEWPORT BEACH
- **STATE:** CA
- **ZIP:** 92660
- **BUSINESS PHONE:** 949-524-4000

**MAIL ADDRESS:**
- **STREET 1:** 610 NEWPORT CENTER DR
- **STREET 2:** SUITE 1100
- **CITY:** NEWPORT BEACH
- **STATE:** CA
- **ZIP:** 92660

## Ex-24

---

| | |
|:---|:---|
| EXHIBIT 24 | EXHIBIT 24 |
| Chipotle Mexican Grill, Inc.Power of Attorney<br> for Executing Forms 3, 4 and 5 | Chipotle Mexican Grill, Inc.Power of Attorney<br> for Executing Forms 3, 4 and 5 |
| Know all men by these presents, that the undersigned, director or officer, or both, of Chipotle Mexican Grill, Inc., hereby constitutes and appoints each of Roger Theodoredis, Michael McGawn, Helen Kaminski, signing singly, the undersigned's true and lawful attorney-in-fact to: | Know all men by these presents, that the undersigned, director or officer, or both, of Chipotle Mexican Grill, Inc., hereby constitutes and appoints each of Roger Theodoredis, Michael McGawn, Helen Kaminski, signing singly, the undersigned's true and lawful attorney-in-fact to: |
| (1) | execute for and on behalf of the undersigned, in the undersigned's capacity as an officer and/or director of Chipotle Mexican Grill, Inc. (the "Company"), Forms 3, 4, and 5 in accordance with Section 16(a) of the Securities Exchange Act of 1934 and the rules thereunder; |
| (2) | do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable to complete and execute any such Form 3, 4 or 5 and timely file such form with the United States Securities and Exchange Commission and any stock exchange or similar authority; and |
| (3) | take any other action of any type whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit to, in the best interest of, or legally required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as such attorney-in-fact may approve in such attorney-in-fact's discretion. |
| The undersigned hereby grants to each such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary, or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorney-in-fact, or such attorney-in-fact's substitute or substitutes, shall lawfully do or cause to be done by virtue of this power of attorney and the rights and powers herein granted. The undersigned acknowledges that the foregoing attorneys-in-fact, in serving in such capacity at the request of the undersigned, are not assuming, nor is the Company assuming, any of the undersigned's responsibilities to comply with Section 16 of the Securities Exchange Act of 1934. | The undersigned hereby grants to each such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary, or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorney-in-fact, or such attorney-in-fact's substitute or substitutes, shall lawfully do or cause to be done by virtue of this power of attorney and the rights and powers herein granted. The undersigned acknowledges that the foregoing attorneys-in-fact, in serving in such capacity at the request of the undersigned, are not assuming, nor is the Company assuming, any of the undersigned's responsibilities to comply with Section 16 of the Securities Exchange Act of 1934. |
| This Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file Forms 3, 4 and 5 with respect to the undersigned's holdings of and transactions in securities of Chipotle Mexican Grill, Inc. unless earlier revoked by the undersigned in a signed writing delivered to the foregoing attorneys-in-fact. | This Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file Forms 3, 4 and 5 with respect to the undersigned's holdings of and transactions in securities of Chipotle Mexican Grill, Inc. unless earlier revoked by the undersigned in a signed writing delivered to the foregoing attorneys-in-fact. |
| IN WITNESS WHEREOF, the undersigned has executed this Power of Attorney as of this 11<sup>th</sup> day of September, 2025 | IN WITNESS WHEREOF, the undersigned has executed this Power of Attorney as of this 11<sup>th</sup> day of September, 2025 |

---

---

| |
|:---|
| /s/ Matthew R Bush |
| Matthew R Bush |

---

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

## FORM 3

### INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Bush Matthew R<br><sub>(Last) (First) (Middle)</sub><br>C/O CHIPOTLE MEXICAN GRILL, INC.<br>610 NEWPORT CENTER DR, SUITE 1100<br><sub>(Street)</sub><br>NEWPORT BEACH, CA 92660<br><sub>(City) (State) (Zip)</sub> | **3. Issuer Name and Ticker or Trading Symbol**<br>CHIPOTLE MEXICAN GRILL INC [ CMG ] | **5. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  |
| **2. Date of Event Requiring Statement (Month/Day/Year)**<br>2025-09-04 | **4. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director   [ ] 10% Owner<br>[X] Officer (give title below)   [ ] Other (specify below)<br>_Controller, PAO_ | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities Beneficially Owned

---

|  |  |  |  |
| --- | --- | --- | --- |
| 1. Title of Security | 2. Amount of Securities Beneficially Owned | 3. Ownership Form | 4. Nature of Indirect Beneficial Ownership |
| common  stock | 4310<sup>(1)</sup> | D |  |

---

## Table II - Derivative Securities Beneficially Owned

---

|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Underlying Securities | 3. Title and Amount of Underlying Securities | 4. Conversion or Exercise Price | 5. Ownership Form | 6. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 4. Conversion or Exercise Price | 5. Ownership Form | 6. Nature of Indirect Beneficial Ownership |
| 2022 SOSAR | 2024-02-10<sup>(2)</sup> | 2029-02-10 | common  stock | 4150 | $31.56 | D |  |
| 2023 SOSAR | 2025-02-09<sup>(2)</sup> | 2030-02-09 | common  stock | 3650 | $32.1382 | D |  |
| 2024 SOSAR | 2026-02-09<sup>(2)</sup> | 2031-02-09 | common  stock | 3350 | $52.767 | D |  |
| 2025 SOSAR | 2027-02-07<sup>(2)</sup> | 2032-02-07 | common  stock | 12377 | $57.27 | D |  |

---

### Footnotes:

(1) Includes a restricted stock unit (RSU) with 600 unvested shares that was granted on February 9, 2023 and will be fully vested on February 9, 2026, and an RSU for 1,100 shares that was granted on February 9, 2024 and will vest 50% on each of the second and third anniversaries of the grant date.

(2) The stock appreciation right (SOSAR) vests 50% on each of the second and third anniversaries of the grant date, subject to continued employment with Chipotle and possible acceleration of vesting. Upon exercise, the SOSAR settles in shares of common stock on a 1-to-1 basis.

**Signature:** /s/ Helen Kaminski, pursuant to power of attorney filed herewith  
**Date:** 2025-09-16

### Remarks:

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.**