CHIPOTLE MEXICAN GRILL INC 8-K

What Happened
Chipotle Mexican Grill, Inc. announced on January 12, 2026 (via Form 8-K) that long‑time executives Chris Brandt and Roger Theodoredis have transitioned out of their executive officer positions effective January 12, 2026. They have agreed to provide limited transitional advisory services as non‑executive employees to assist with succession and onboarding of their successors.

Key Details

• Transition effective date: January 12, 2026.
• Transitional arrangement: Both will serve as non‑executive employees for a limited period, continue to receive base salary and remain eligible for employee benefits during that period.
• Equity and severance: They will not be eligible for any new equity awards during the transitional period; each will be eligible for benefits under Chipotle’s Executive Officer Severance Plan at the end of the transitional services period, subject to plan conditions.
• Filing and disclosure: The company filed Form 8-K and issued a press release (Exhibit 99.1) announcing the changes; the 8-K was signed by CFO Adam Rymer.

Why It Matters
Executive transitions can affect leadership continuity and investor confidence. This filing confirms an orderly, paid transition with advisory support and potential severance, but does not disclose successor appointments or material compensation amounts. Investors should watch for future disclosures naming successors, any material change in strategy or guidance, or specific severance payments.