Companies Chipotle Mexican Grill Inc
Chipotle Mexican Grill (CMG): executive pay, fiscal 2025
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CEO vs. named peers36th pct.Of 14 peer CEOs
CEO pay, last three years
- $6,346,772FY2023
- $19,137,518FY2024
- $15,455,736FY2025
CEO total pay was $15,455,736 in fiscal 2025, down from $19,137,518 in fiscal 2024.
FY2025: salary $1,095,385 · bonus $0 · stock awards $7,800,002 · option awards $5,200,007
Executives and directors
Adam Rymer · CFOJack Hartung · ExecutiveCurt Garner · ExecutiveChris Brandt · President, Chief Brand OfficerRoger Theodoredis · General CounselScott Boatwright · CEOAlbert Baldocchi · Independent DirectorGregg Engles · Former director (through FY2025)Josh Weinstein · Independent DirectorLaura Fuentes · Independent DirectorMary Winston · Independent DirectorMatthew Carey · Independent DirectorMauricio Gutierrez · Independent DirectorPatricia Fili-Krushel · Independent DirectorRobin Hickenlooper · Independent DirectorScott Maw · Chair of the Board
Frequently asked questions
Who was the highest-paid executive at Chipotle Mexican Grill Inc in fiscal 2025?
As disclosed, Scott Boatwright (Chief Executive Officer) was the highest-paid executive at Chipotle Mexican Grill Inc in fiscal 2025, with total compensation of $15,455,736.
How does Chipotle Mexican Grill Inc's chief executive pay compare to its disclosed peer group?
As disclosed, Scott Boatwright's total compensation ranked at the 36th percentile of Chipotle Mexican Grill Inc's disclosed peer group.
What is Chipotle Mexican Grill Inc's CEO-to-median employee pay ratio?
As disclosed, Chipotle Mexican Grill Inc's CEO-to-median employee pay ratio was 886:1.
How did shareholders vote on Chipotle Mexican Grill Inc's executive compensation?
As disclosed, 95.11% of shareholders supported Chipotle Mexican Grill Inc's executive compensation in the latest say-on-pay vote.
How much does Chipotle Mexican Grill Inc spend in total on board compensation for fiscal 2025?
As disclosed, Chipotle Mexican Grill Inc reported total board compensation of $3,203,886 for fiscal 2025.
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Scott Boatwright | $1,095,385 | $0 | $7,800,002 | $5,200,007 | $1,155,000 | $0 | $205,342 | $15,455,736 |
| Chief Executive Officer | ||||||||
| Curt Garner | 841,154 | 0 | 3,750,040 | 2,500,005 | 534,463 | 0 | 114,731 | 7,740,392 |
| President, Chief Strategy and Technology Officer | ||||||||
| Jack Hartung | 518,461 | 0 | 5,200,059 | 1,300,015 | 249,005 | 0 | 117,769 | 7,385,310 |
| Former President and Chief Strategy Officer; Former Chief Financial and Administrative Officer | ||||||||
| Chris Brandt | 781,154 | 0 | 4,000,080 | 1,000,009 | 372,875 | 0 | 98,945 | 6,253,063 |
| Former President, Chief Brand Officer | ||||||||
| Roger Theodoredis | 661,923 | 0 | 3,200,019 | 800,011 | 284,288 | 0 | 28,870 | 4,975,111 |
| Former General Counsel, Chief Legal Officer | ||||||||
| Adam Rymer | 650,000 | 0 | 1,800,053 | 1,200,007 | 292,500 | 0 | 49,897 | 3,992,458 |
| Chief Financial Officer | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
Three-year trend — total compensation per named executive
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Scott Boatwright | $15,455,736 | $19,137,518 | $6,346,772 | ↓ −3,681,782 |
| Curt Garner | 7,740,392 | 16,033,306 | 7,426,514 | ↓ −8,292,914 |
| Jack Hartung | 7,385,310 | 17,501,434 | 8,383,282 | ↓ −10,116,124 |
| Chris Brandt | 6,253,063 | 14,106,273 | 6,624,779 | ↓ −7,853,210 |
| Roger Theodoredis | 4,975,111 | 10,653,367 | — | ↓ −5,678,256 |
| Adam Rymer | 3,992,458 | 5,367,269 | — | ↓ −1,374,811 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
Position our target total direct compensation (base salary, target annual incentive bonus opportunity and target LTI opportunity) at a level where we can successfully recruit and retain industry leading talent critical to shaping and executing our business strategy and creating long-term value for our shareholders. Align relative realized pay with relative performance versus peers by emphasizing long-term equity over short-term cash and performance-based compensation over time-vested compensation.
| CEO STI target (% of salary) | 200% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Meridian Compensation Partners, LLC |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | True |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2025
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Scott Boatwright | OPTION | 2025-02-07 | — | — | 286,029 | — | $5,200,007 |
| Curt Garner | OPTION | 2025-02-07 | — | — | 137,514 | — | 2,500,005 |
| Scott Boatwright | PSU | 2025-02-07 | 0 | 136,197 | — | 408,591 | 7,800,002 |
| Adam Rymer | PSU | 2025-02-07 | 0 | 31,431 | — | 94,293 | 1,800,053 |
| Chris Brandt | OPTION | 2025-02-07 | — | — | 55,006 | — | 1,000,009 |
| Roger Theodoredis | OPTION | 2025-02-07 | — | — | 44,005 | — | 800,011 |
| Curt Garner | PSU | 2025-02-07 | 0 | 65,480 | — | 196,440 | 3,750,040 |
| Roger Theodoredis | RSU | 2025-02-07 | — | — | 13,969 | — | 800,005 |
| Chris Brandt | RSU | 2025-02-07 | — | — | 17,462 | — | 1,000,049 |
| Jack Hartung | RSU | 2025-02-07 | — | — | 22,700 | — | 1,300,029 |
| Jack Hartung | PSU | 2025-02-07 | 0 | 68,099 | — | 204,297 | 3,900,030 |
| Roger Theodoredis | PSU | 2025-02-07 | 0 | 41,907 | — | 125,721 | 2,400,014 |
| Jack Hartung | OPTION | 2025-02-07 | — | — | 71,508 | — | 1,300,015 |
| Chris Brandt | PSU | 2025-02-07 | 0 | 52,384 | — | 157,152 | 3,000,032 |
| Adam Rymer | OPTION | 2025-02-07 | — | — | 66,007 | — | 1,200,007 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Scott Boatwright | $0 | $7,800,002 | $5,200,007 | 60.0% |
| Curt Garner | 0 | 3,750,040 | 2,500,005 | 60.0% |
| Adam Rymer | 0 | 1,800,053 | 1,200,007 | 60.0% |
| Chris Brandt | 1,000,049 | 3,000,032 | 1,000,009 | 60.0% |
| Roger Theodoredis | 800,005 | 2,400,014 | 800,011 | 60.0% |
| Jack Hartung | 1,300,029 | 3,900,030 | 1,300,015 | 60.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Chris Brandt | RSU | 2,050 | — | $75,850 |
| Scott Boatwright | RSU | 2,250 | — | 83,250 |
| Roger Theodoredis | RSU | 2,300 | — | 85,100 |
| Curt Garner | RSU | 2,450 | — | 90,650 |
| Jack Hartung | RSU | 3,400 | — | 125,800 |
| Adam Rymer | PSU | 6,650 | — | 246,050 |
| Adam Rymer | RSU | 13,119 | — | 485,403 |
| Roger Theodoredis | RSU | 13,969 | — | 516,853 |
| Scott Boatwright | RSU | 14,000 | — | 518,000 |
| Chris Brandt | RSU | 14,000 | — | 518,000 |
| Adam Rymer | Option | 14,500 | 32.14 | — |
| Chris Brandt | RSU | 17,462 | — | 646,094 |
| Chris Brandt | RSU | 18,050 | — | 667,850 |
| Adam Rymer | Option | 20,750 | 52.77 | — |
| Jack Hartung | RSU | 22,700 | — | 839,900 |
| Adam Rymer | PSU | 25,526 | — | 944,462 |
| Adam Rymer | PSU | 31,431 | — | 1,162,947 |
| Adam Rymer | RSU | 37,418 | — | 1,384,466 |
| Roger Theodoredis | RSU | 37,418 | — | 1,384,466 |
| Roger Theodoredis | PSU | 41,907 | — | 1,550,559 |
| Roger Theodoredis | PSU | 42,650 | — | 1,578,050 |
| Scott Boatwright | Option | 43,500 | 32.14 | — |
| Chris Brandt | Option | 43,500 | 32.14 | — |
| Roger Theodoredis | Option | 44,005 | 57.27 | — |
| Chris Brandt | PSU | 52,384 | — | 1,938,208 |
| Curt Garner | RSU | 52,386 | — | 1,938,282 |
| Chris Brandt | RSU | 52,386 | — | 1,938,282 |
| Chris Brandt | PSU | 54,050 | — | 1,999,850 |
| Chris Brandt | Option | 55,006 | 57.27 | — |
| Chris Brandt | Option | 56,300 | 52.77 | — |
| Scott Boatwright | PSU | 56,900 | — | 2,105,300 |
| Scott Boatwright | RSU | 59,869 | — | 2,215,153 |
| Jack Hartung | RSU | 59,869 | — | 2,215,153 |
| Curt Garner | PSU | 65,480 | — | 2,422,760 |
| Adam Rymer | Option | 66,007 | 57.27 | — |
| Roger Theodoredis | Option | 67,650 | 32.14 | — |
| Jack Hartung | PSU | 68,099 | — | 2,519,663 |
| Curt Garner | PSU | 71,100 | — | 2,630,700 |
| Jack Hartung | Option | 71,508 | 57.27 | — |
| Jack Hartung | PSU | 73,950 | — | 2,736,150 |
| Roger Theodoredis | Option | 88,850 | 52.77 | — |
| Curt Garner | Option | 96,650 | 32.14 | — |
| Jack Hartung | Option | 106,300 | 32.14 | — |
| Scott Boatwright | Option | 118,500 | 52.77 | — |
| Scott Boatwright | PSU | 136,197 | — | 5,039,289 |
| Curt Garner | Option | 137,514 | 57.27 | — |
| Curt Garner | Option | 148,100 | 52.77 | — |
| Jack Hartung | Option | 154,000 | 52.77 | — |
| Roger Theodoredis | PSU | 178,406 | — | 6,601,022 |
| Scott Boatwright | PSU | 229,457 | — | 8,489,909 |
| Chris Brandt | PSU | 229,457 | — | 8,489,909 |
| Curt Garner | PSU | 254,846 | — | 9,429,302 |
| Jack Hartung | PSU | 280,371 | — | 10,373,727 |
| Scott Boatwright | Option | 286,029 | 57.27 | — |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Scott MawIndependent · Board Chair · Audit | $340,000 | $215,032 | $0 | $0 | $0 | $555,032 |
| Patricia Fili-KrushelIndependent · Compensation (Chair) | 162,500 | 215,032 | 0 | 0 | 0 | 377,532 |
| Robin HickenlooperIndependent · Nominating/Governance (Chair) | 155,000 | 215,032 | 0 | 0 | 0 | 370,032 |
| Mary WinstonIndependent · Audit (Chair) | 152,500 | 215,032 | 0 | 0 | 0 | 367,532 |
| Matthew CareyIndependent · Audit | 125,000 | 215,032 | 0 | 0 | 0 | 340,032 |
| Laura FuentesIndependent · Compensation | 125,000 | 215,032 | 0 | 0 | 0 | 340,032 |
| Mauricio GutierrezIndependent · Compensation | 125,000 | 215,032 | 0 | 0 | 0 | 340,031 |
| Albert BaldocchiIndependent · Nominating/Governance | 120,000 | 215,032 | 0 | 0 | 0 | 335,032 |
| Josh WeinsteinIndependent · Nominating/Governance · Partial-year service · Newly elected | 1,974 | 116,656 | 0 | 0 | 0 | 118,630 |
| Gregg EnglesIndependent · Nominating/Governance · Not standing for re-election · Departed during FY | 60,000 | 0 | 0 | 0 | 0 | 60,000 |
| Scott BoatwrightEmployee director | 0 | 0 | 0 | — | 0 | 0 |
Board fee structure and ownership guideline
| Annual cash retainer | $110,000 |
|---|---|
| Annual equity retainer | $215,000 |
| Per board meeting fee | $2,000 |
| Committee chair fees (audit / comp / nom-gov) | 42,500 / 37,500 / 30,000 |
| Stock ownership guideline | 5x annual cash retainer ($550,000) |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $1,366,974 |
| Equity awards (grant-date value) | $1,836,912 |
| All other compensation | $0 |
| Total cost of the board | $3,203,886 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Chipotle Mexican Grill as a peer
Companies that benchmark against CMG
27 companies name CMG as a compensation peer
- AMC ENTERTAINMENT HOLDINGS, INC.AMCFY2025
- BRINKER INTERNATIONAL, INCEATFY2026
- CARVANA CO.CVNAFY2025
- CASEYS GENERAL STORES INCCASYFY2026
- CHEESECAKE FACTORY INCCAKEFY2025
- CHOICE HOTELS INTERNATIONAL INC /DECHHFY2025
- CRACKER BARREL OLD COUNTRY STORE, INCCBRLFY2026
- DARDEN RESTAURANTS INCDRIFY2026
- DOMINOS PIZZA INCDPZFY2025
- Dutch Bros Inc.BROSFY2025
- Extra Space Storage Inc.EXRFY2025
- Krispy Kreme, Inc.DNUTFY2025
- lululemon athletica inc.LULUFY2025
- MGM Resorts InternationalMGMFY2025
- Monster Beverage CorpMNSTFY2025
- Murphy USA Inc.MUSAFY2025
- PAPA JOHNS INTERNATIONAL INCPZZAFY2025
- RED ROBIN GOURMET BURGERS INCRRGBFY2025
- Restaurant Brands International Inc.QSRFY2025
- ROYAL CARIBBEAN CRUISES LTDRCLFY2025
- SharkNinja, Inc.SNFY2025
- STARBUCKS CORPSBUXFY2025
- Texas Roadhouse, Inc.TXRHFY2025
- Travel & Leisure Co.TNLFY2025
- Wendy's CoWENFY2025
- YUM BRANDS INCYUMFY2025
- Yum China Holdings, Inc.YUMCFY2024
Each company listed discloses CMG in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named CMG in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
Disclosed peer group — fiscal year 2025
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
LULU lululemon athletica inc.MAR Marriott International, Inc.ULTA Ulta Beauty, Inc.YUM Yum! Brands, Inc.BKNG Booking Holdings Inc.ABNB Airbnb, Inc.DRI Darden Restaurants, Inc.DASH DoorDash, Inc.EBAY eBay Inc.EXPE Expedia Group, Inc.HLT Hilton Worldwide Holdings Inc.QSR Restaurant Brands International Inc.SBUX Starbucks CorporationUBER Uber Technologies, Inc.
Peer reciprocity
Of the companies Chipotle Mexican Grill Inc names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.
lululemon athletica inc. (LULU)— Marriott International, Inc. (MAR)69— Ulta Beauty, Inc. (ULTA)70✓ Yum! Brands, Inc. (YUM)71— Booking Holdings Inc. (BKNG)72— Airbnb, Inc. (ABNB)73✓ Darden Restaurants, Inc. (DRI)74— DoorDash, Inc. (DASH)75 eBay Inc. (EBAY)— Expedia Group, Inc. (EXPE)76 Hilton Worldwide Holdings Inc. (HLT)✓ Restaurant Brands International Inc. (QSR)77✓ Starbucks Corporation (SBUX)78— Uber Technologies, Inc. (UBER)79
Reciprocity shown where the peer’s own current proxy has been read — each mark is cited in the register to that peer’s filing. A dash means the peer’s current proxy was read and names no reciprocal group including Chipotle Mexican Grill Inc.
Chief executive pay against the peer group
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Uber Technologies, Inc. | 2025 | Dara Khosrowshahi | $1,083,333 | $23,746,098 | $7,373,189 | $2,838,660 | $35,595,826 |
| 2 | Booking Holdings Inc. | 2025 | Glenn Fogel | 1,250,000 | 26,202,279 | 0 | 4,042,500 | 35,418,102 |
| 3 | Darden Restaurants, Inc. | 2026 | Ricardo Cardenas | 1,325,000 | 25,879,154 | 2,380,093 | 4,107,501 | 34,815,979 |
| 4 | Starbucks Corporation | 2025 | Brian Niccol | 1,599,998 | 19,881,585 | 0 | 1,971,000 | 30,992,773 |
| 5 | eBay Inc. | 2025 | Jamie Iannone | 1,000,000 | 23,518,310 | — | 3,570,000 | 28,463,890 |
| 6 | Hilton Worldwide Holdings Inc. | 2025 | Christopher Nassetta | 1,300,000 | 17,324,722 | 5,774,961 | 2,974,111 | 27,674,400 |
| 7 | lululemon athletica inc. | 2025 | Calvin McDonald | 1,393,269 | 7,800,001 | 13,800,030 | 994,794 | 24,023,294 |
| 8 | Marriott International, Inc. | 2025 | Anthony Capuano | 1,400,001 | 12,010,696 | 4,125,205 | 4,526,830 | 22,970,926 |
| 9 | Expedia Group, Inc. | 2025 | Ariane Gorin | 1,254,808 | 15,689,800 | 0 | 0 | 17,592,584 |
| 10 | Chipotle Mexican Grill Inc | 2025 | Scott Boatwright | 1,095,385 | 7,800,002 | 5,200,007 | 1,155,000 | 15,455,736 |
| 11 | Ulta Beauty, Inc. | 2025 | Kecia Steelman | 1,350,003 | 4,792,877 | 4,792,556 | 4,383,972 | 15,403,663 |
| 12 | Restaurant Brands International Inc. | 2025 | Joshua Kobza | 950,000 | 12,317,912 | 0 | 1,869,276 | 15,159,780 |
| 13 | Yum! Brands, Inc. | 2025 | Chris Turner | 1,020,288 | 4,651,763 | 1,400,032 | 1,842,862 | 9,130,462 |
| 14 | DoorDash, Inc. | 2025 | Tony Xu | 300,000 | 0 | 0 | 0 | 431,864 |
| 15 | Airbnb, Inc. | 2025 | Brian Chesky | 1 | 0 | 0 | 0 | 242,122 |
Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Incentive design against the same peers
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Chipotle Mexican Grill Inc | 53% | PSU 60 · Options 20 · RSU 20 | No | Meridian Compensation Partners, LLC |
| Airbnb, Inc. | 100% | RSU 70 · Options 30 | not disclosed | Deloitte & Touche Toomey LLP |
| Booking Holdings Inc. | 162% | PSU 60 · RSU 40 | Yes — Relative Total Stockholder Return (rTSR) | Semler Brossy |
| Darden Restaurants, Inc. | 155% | PSU 50 · Options 25 · RSU 25 | Yes — Relative TSR | Pearl Meyer |
| DoorDash, Inc. | not disclosed | RSU 100 | not disclosed | Semler Brossy Consulting Group LLC |
| eBay Inc. | 179% | not disclosed | Yes — Relative total shareholder return (rTSR) | Pay Governance |
| Expedia Group, Inc. | not disclosed | PSU 50 · RSU 50 | No | Compensia, Inc. |
| Hilton Worldwide Holdings Inc. | 114% | PSU 50 · RSU 25 · Options 25 | No | Exequity LLP |
| lululemon athletica inc. | 35.7% | PSU 60 · RSU 20 · Options 20 | No | WTW (Willis Towers Watson) |
| Marriott International, Inc. | 162% | PSU 50 · RSU 25 · Options 25 | No | Pearl Meyer |
| Restaurant Brands International Inc. | 98% | not disclosed | Yes — Relative TSR vs S&P 500 | Frederic W. Cook & Co., Inc. |
| Starbucks Corporation | not disclosed | PRSU 60 · RSU 40 | Yes — Relative TSR | Pay Governance |
| Uber Technologies, Inc. | 129.03% | not disclosed | Yes — Relative TSR | Semler Brossy Consulting Group |
| Ulta Beauty, Inc. | not disclosed | Option 50 · RSU 50 | not disclosed | Pay Governance LLC |
| Yum! Brands, Inc. | not disclosed | PSU 50 · Options 25 · RSU 25 | Yes — TSR Relative to S&P 500 Consumer Discretionary Index | Meridian Compensation Partners, LLC |
Read from each company’s Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company’s filing does not state the item.
Say-on-pay history and pay ratio
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-06-11 | 973,639,399 | 47,598,354 | 2,411,240 | 95.11% | Passed |
| 2025 | 2025-06-11 | 603,124,052 | 484,840,689 | 2,077,727 | 55.33% | Passed |
| 2024 | 2024-06-06 | 21,990,565 | 1,190,480 | 26,562 | 94.76% | Passed |
| 2023 | 2023-05-25 | 22,789,232 | 859,748 | 28,921 | 96.36% | Passed |
| 2022 | 2022-05-18 | 23,289,295 | 802,962 | 20,007 | 96.59% | Passed |
| 2021 | 2021-05-18 | 12,243,906 | 11,584,163 | 20,165 | 51.34% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year’s compensation.
Say-on-pay — history, company’s computation
| Meeting year | Meeting date | Approval — company’s computation |
|---|---|---|
| 2026 | 2026-06-11 | 95.11%a |
| 2025 | 2025-06-11 | 55.33%b |
| 2024 | 2024-06-06 | 94.76%c |
a. Approved under the standard stated in the filing — “Abstentions represent shares entitled to vote and therefore will have the same effect as a vote "AGAINST" a proposal.”.
b. Approved under the standard stated in the filing — “Abstentions represent shares entitled to vote and therefore will have the same effect as a vote "AGAINST" a proposal.”.
c. Approved under the standard stated in the filing — “Abstentions represent shares entitled to vote, and therefore will have the same effect as a vote "AGAINST" a proposal.”.
Approval percentages are the company’s own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
CEO pay ratio
| Ratio (CEO : median employee) | 886 : 1 |
|---|---|
| CEO total compensation | $15,455,736 |
| Median employee compensation | $17,446 |
Insider trades since the proxy
Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| Albert Baldocchi | Director | 2026-05-20 | D | 6,672 | $0 | $0 | Common | Form 4 ↗ |
| Albert Baldocchi | Director | 2026-06-11 | A | 6,880 | 31 | 215,000 | Common | Form 4 ↗ |
| Matthew Carey | Director | 2026-06-11 | A | 6,880 | 31 | 215,000 | Common | Form 4 ↗ |
| Patricia Filikrushel | Director | 2026-06-11 | A | 6,880 | 31 | 215,000 | Common | Form 4 ↗ |
| Laura Fuentes | Director | 2026-06-11 | A | 6,880 | 31 | 215,000 | Common | Form 4 ↗ |
| Mauricio Gutierrez | Director | 2026-06-11 | A | 6,880 | 31 | 215,000 | Common | Form 4 ↗ |
| Scott Maw | Director | 2026-06-11 | A | 6,880 | 31 | 215,000 | Common | Form 4 ↗ |
| Robin Hickenlooper | Director | 2026-06-11 | A | 6,880 | 31 | 215,000 | Common | Form 4 ↗ |
| Josh Weinstein | Director | 2026-06-11 | A | 6,880 | 31 | 215,000 | Common | Form 4 ↗ |
| Mary Winston | Director | 2026-06-11 | A | 6,880 | 31 | 215,000 | Common | Form 4 ↗ |
| Fernando Machado | Chief Brand Officer | 2026-08-07 | A | 235,184 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Fernando Machado | Chief Brand Officer | 2026-08-07 | A | 76,243 | 0 | 0 | Common | Form 4 ↗ |
| Sabir Sami | Director | 2026-09-17 | A | 4,747 | 34 | 159,072 | Common | Form 4 ↗ |
| Adam Rymer | Chief Financial Officer | 2026-10-01 | D | 3,253 | 32 | 103,933 | Common | Form 4 ↗ |
Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.
Sources (79 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Scott Boatwright. DEF 14A, filed 2026-04-28. Section “2025 SUMMARY COMPENSATION TABLE” · page 54. As printed: 15,455,736. View filing ↗
- Section 01, Curt Garner. DEF 14A, filed 2026-04-28. Section “2025 SUMMARY COMPENSATION TABLE” · page 54. As printed: 7,740,392. View filing ↗
- Section 01, Jack Hartung. DEF 14A, filed 2026-04-28. Section “2025 SUMMARY COMPENSATION TABLE” · page 54. As printed: 7,385,310. View filing ↗
- Section 01, Chris Brandt. DEF 14A, filed 2026-04-28. Section “2025 SUMMARY COMPENSATION TABLE” · page 54. As printed: 6,253,063. View filing ↗
- Section 01, Roger Theodoredis. DEF 14A, filed 2026-04-28. Section “2025 SUMMARY COMPENSATION TABLE” · page 54. As printed: 4,975,111. View filing ↗
- Section 01, Adam Rymer. DEF 14A, filed 2026-04-28. Section “2025 SUMMARY COMPENSATION TABLE” · page 54. As printed: 3,992,458. View filing ↗
- Section 03, Scott Boatwright OPTION. DEF 14A, filed 2026-04-28. Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. View filing ↗
- Section 03, Curt Garner OPTION. DEF 14A, filed 2026-04-28. Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. View filing ↗
- Section 03, Scott Boatwright PSU. DEF 14A, filed 2026-04-28. Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. View filing ↗
- Section 03, Adam Rymer PSU. DEF 14A, filed 2026-04-28. Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. View filing ↗
- Section 03, Chris Brandt OPTION. DEF 14A, filed 2026-04-28. Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. View filing ↗
- Section 03, Roger Theodoredis OPTION. DEF 14A, filed 2026-04-28. Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. View filing ↗
- Section 03, Curt Garner PSU. DEF 14A, filed 2026-04-28. Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. View filing ↗
- Section 03, Roger Theodoredis RSU. DEF 14A, filed 2026-04-28. Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. View filing ↗
- Section 03, Chris Brandt RSU. DEF 14A, filed 2026-04-28. Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. View filing ↗
- Section 03, Jack Hartung RSU. DEF 14A, filed 2026-04-28. Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. View filing ↗
- Section 03, Jack Hartung PSU. DEF 14A, filed 2026-04-28. Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. View filing ↗
- Section 03, Roger Theodoredis PSU. DEF 14A, filed 2026-04-28. Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. View filing ↗
- Section 03, Jack Hartung OPTION. DEF 14A, filed 2026-04-28. Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. View filing ↗
- Section 03, Chris Brandt PSU. DEF 14A, filed 2026-04-28. Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. View filing ↗
- Section 03, Adam Rymer OPTION. DEF 14A, filed 2026-04-28. Section “Grants of Plan-Based Awards in 2025” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2026-04-28. Section “CEO Pay Ratio”. As printed: 886 : 1. View filing ↗
- Section 08, Scott Maw. DEF 14A, filed 2026-04-28. Section “Director Compensation”. As printed: 555,032. View filing ↗
- Section 08, Patricia Fili-Krushel. DEF 14A, filed 2026-04-28. Section “Director Compensation”. As printed: 377,532. View filing ↗
- Section 08, Robin Hickenlooper. DEF 14A, filed 2026-04-28. Section “Director Compensation”. As printed: 370,032. View filing ↗
- Section 08, Mary Winston. DEF 14A, filed 2026-04-28. Section “Director Compensation”. As printed: 367,532. View filing ↗
- Section 08, Matthew Carey. DEF 14A, filed 2026-04-28. Section “Director Compensation”. As printed: 340,032. View filing ↗
- Section 08, Laura Fuentes. DEF 14A, filed 2026-04-28. Section “Director Compensation”. As printed: 340,032. View filing ↗
- Section 08, Mauricio Gutierrez. DEF 14A, filed 2026-04-28. Section “Director Compensation”. As printed: 340,031. View filing ↗
- Section 08, Albert Baldocchi. DEF 14A, filed 2026-04-28. Section “Director Compensation”. As printed: 335,032. View filing ↗
- Section 08, Josh Weinstein. DEF 14A, filed 2026-04-28. Section “Director Compensation”. As printed: 118,630. View filing ↗
- Section 08, Gregg Engles. DEF 14A, filed 2026-04-28. Section “Director Compensation”. As printed: 60,000. View filing ↗
- Section 08, Scott Boatwright. DEF 14A, filed 2026-04-28. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 02, Albert Baldocchi 2026-05-20. Form 4, filed 2026-05-21. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Albert Baldocchi 2026-06-11. Form 4, filed 2026-06-12. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Matthew Carey 2026-06-11. Form 4, filed 2026-06-12. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Patricia Filikrushel 2026-06-11. Form 4, filed 2026-06-12. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Laura Fuentes 2026-06-11. Form 4, filed 2026-06-12. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Mauricio Gutierrez 2026-06-11. Form 4, filed 2026-06-12. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Scott Maw 2026-06-11. Form 4, filed 2026-06-12. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Robin Hickenlooper 2026-06-11. Form 4, filed 2026-06-12. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Josh Weinstein 2026-06-11. Form 4, filed 2026-06-12. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Mary Winston 2026-06-11. Form 4, filed 2026-06-12. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Fernando Machado 2026-08-07. Form 4, filed 2026-08-10. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Fernando Machado 2026-08-07. Form 4, filed 2026-08-10. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Sabir Sami 2026-09-17. Form 4, filed 2026-09-21. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Adam Rymer 2026-10-01. Form 4, filed 2026-10-01. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-06-17. Item 5.07 · say-on-pay result. As reported: 95.11% (votes for as printed: 973,639,399). View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-06-13. Item 5.07 · say-on-pay result. As reported: 55.33% (votes for as printed: 603,124,052). View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-06-07. Item 5.07 · say-on-pay result. As reported: 94.76% (votes for as printed: 21,990,565). View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
- Section 09b board cost (computed). Computed. Cash 1,366,974 + equity 1,836,912 + all other 0 = 3,203,886, summed across the director compensation table rows.
- Uber Technologies, Inc., Section 10b CEO total. DEFR 14A, filed 2026-04-20. CEO total compensation as printed in Uber Technologies, Inc.'s own proxy. As printed: 35,595,826. View filing ↗
- Booking Holdings Inc., Section 10b CEO total. DEF 14A, filed 2026-04-21. CEO total compensation as printed in Booking Holdings Inc.'s own proxy. As printed: 35,418,102. View filing ↗
- Darden Restaurants, Inc., Section 10b CEO total. DEF 14A, filed 2026-08-10. CEO total compensation as printed in Darden Restaurants, Inc.'s own proxy. As printed: 34,815,979. View filing ↗
- Starbucks Corporation, Section 10b CEO total. DEF 14A, filed 2026-01-26. CEO total compensation as printed in Starbucks Corporation's own proxy. As printed: 30,992,773. View filing ↗
- eBay Inc., Section 10b CEO total. DEF 14A, filed 2026-04-30. CEO total compensation as printed in eBay Inc.'s own proxy. As printed: 28,463,890. View filing ↗
- Hilton Worldwide Holdings Inc., Section 10b CEO total. DEF 14A, filed 2026-04-02. CEO total compensation as printed in Hilton Worldwide Holdings Inc.'s own proxy. As printed: 27,674,400. View filing ↗
- lululemon athletica inc., Section 10b CEO total. DEF 14A, filed 2026-05-18. CEO total compensation as printed in lululemon athletica inc.'s own proxy. As printed: 24,023,294. View filing ↗
- Marriott International, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-27. CEO total compensation as printed in Marriott International, Inc.'s own proxy. As printed: 22,970,926. View filing ↗
- Expedia Group, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-29. CEO total compensation as printed in Expedia Group, Inc.'s own proxy. As printed: 17,592,584. View filing ↗
- Chipotle Mexican Grill Inc (subject), Section 10b CEO total. DEF 14A, filed 2026-04-28. CEO total compensation as printed in Chipotle Mexican Grill Inc's own proxy. As printed: 15,455,736. View filing ↗
- Ulta Beauty, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-22. CEO total compensation as printed in Ulta Beauty, Inc.'s own proxy. As printed: 15,403,663. View filing ↗
- Restaurant Brands International Inc., Section 10b CEO total. DEF 14A, filed 2026-04-23. CEO total compensation as printed in Restaurant Brands International Inc.'s own proxy. As printed: 15,159,780. View filing ↗
- Yum! Brands, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-03. CEO total compensation as printed in Yum! Brands, Inc.'s own proxy. As printed: 9,130,462. View filing ↗
- DoorDash, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-20. CEO total compensation as printed in DoorDash, Inc.'s own proxy. As printed: 431,864. View filing ↗
- Airbnb, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-24. CEO total compensation as printed in Airbnb, Inc.'s own proxy. As printed: 242,122. View filing ↗
- Section 10a, Marriott International, Inc. reciprocity. DEF 14A. Marriott International, Inc.'s most recent proxy was read; its disclosed peer group does not include Chipotle Mexican Grill Inc. View filing ↗
- Section 10a, Ulta Beauty, Inc. reciprocity. DEF 14A. Ulta Beauty, Inc.'s most recent proxy was read; its disclosed peer group does not include Chipotle Mexican Grill Inc. View filing ↗
- Section 10a, Yum! Brands, Inc. reciprocity. DEF 14A. Yum! Brands, Inc. names Chipotle Mexican Grill Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Booking Holdings Inc. reciprocity. DEF 14A. Booking Holdings Inc.'s most recent proxy was read; its disclosed peer group does not include Chipotle Mexican Grill Inc. View filing ↗
- Section 10a, Airbnb, Inc. reciprocity. DEF 14A. Airbnb, Inc.'s most recent proxy was read; its disclosed peer group does not include Chipotle Mexican Grill Inc. View filing ↗
- Section 10a, Darden Restaurants, Inc. reciprocity. DEF 14A. Darden Restaurants, Inc. names Chipotle Mexican Grill Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, DoorDash, Inc. reciprocity. DEF 14A. DoorDash, Inc.'s most recent proxy was read; its disclosed peer group does not include Chipotle Mexican Grill Inc. View filing ↗
- Section 10a, Expedia Group, Inc. reciprocity. DEF 14A. Expedia Group, Inc.'s most recent proxy was read; its disclosed peer group does not include Chipotle Mexican Grill Inc. View filing ↗
- Section 10a, Restaurant Brands International Inc. reciprocity. DEF 14A. Restaurant Brands International Inc. names Chipotle Mexican Grill Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Starbucks Corporation reciprocity. DEF 14A. Starbucks Corporation names Chipotle Mexican Grill Inc in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Uber Technologies, Inc. reciprocity. DEF 14A. Uber Technologies, Inc.'s most recent proxy was read; its disclosed peer group does not include Chipotle Mexican Grill Inc. View filing ↗