FLANZRAICH NEIL 4
4 · CHIPOTLE MEXICAN GRILL INC · Filed May 21, 2020
Insider Transaction Report
Form 4
FLANZRAICH NEIL
Director
Transactions
- Award
common stock
2020-05-19+149→ 4,782 total - Award
common stock
2020-05-19+57→ 4,839 total
Footnotes (2)
- [F1]The issuer granted restricted stock units ("RSUs") to each of its non-employee directors under the Amended and Restated Chipotle Mexican Grill, Inc. 2011 Stock Incentive Plan (the "Plan") to cover the directors' one-year term of service from May 2020 to May 2021. The RSUs will settle in shares of the issuer's common stock on a one-for-one basis and will vest in full on the first anniversary of the grant date, subject to the reporting person's continued service on the Chipotle Board of Directors.
- [F2]The issuer granted RSUs under the Plan to each of its non-employee directors who served on the Chipotle Board of Directors from January to May 2020. In 2019, the Board changed the director compensation period from a calendar year basis (December to January) to a May to May basis to correspond with the annual election of directors, and this RSU grant is a pro rata portion of the annual grant amount to compensate the directors for the transition period. This RSU grant was made in arrears, at the end of the service period, and vested in full on the date of grant.