<SEC-DOCUMENT>0001058090-18-000035.txt : 20180423
<SEC-HEADER>0001058090-18-000035.hdr.sgml : 20180423
<ACCEPTANCE-DATETIME>20180423163457
ACCESSION NUMBER:		0001058090-18-000035
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20180423
DATE AS OF CHANGE:		20180423
EFFECTIVENESS DATE:		20180423

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHIPOTLE MEXICAN GRILL INC
		CENTRAL INDEX KEY:			0001058090
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING PLACES [5812]
		IRS NUMBER:				841219301
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32731
		FILM NUMBER:		18769243

	BUSINESS ADDRESS:	
		STREET 1:		1401 WYNKOOP
		STREET 2:		SUITE 500
		CITY:			DENVER
		STATE:			CO
		ZIP:			80202
		BUSINESS PHONE:		3035954000

	MAIL ADDRESS:	
		STREET 1:		1401 WYNKOOP
		STREET 2:		SUITE 500
		CITY:			DENVER
		STATE:			CO
		ZIP:			80202
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>cmg-20180423xdefa14a.htm
<DESCRIPTION>DEFA14A
<TEXT>
<!--HTML document created with Certent Disclosure Management 6.17.0.1-->
<!--Created on: 4/23/2018 2:21:34 PM-->
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	<head>
		<title>
			Def 14A
		</title>
	</head>
	<body><div style="margin-left:36pt;margin-right:36pt;">
		<p style="margin:0pt;text-align:center;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 9pt">
			<a name="_GoBack"></a><font style="display: inline;font-family:Arial;font-weight:bold;font-size:9pt;">Would</font><font style="display: inline;font-family:Arial;font-weight:bold;font-size:9pt;">UNITED STATES </font>
		</p>
		<p style="margin:0pt;text-align:center;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 9pt">
			<font style="display: inline;font-family:Arial;font-weight:bold;font-size:9pt;">SECURITIES AND EXCHANGE COMMISSION </font>
		</p>
		<p style="margin:0pt;text-align:center;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 9pt">
			<font style="display: inline;font-family:Arial;font-weight:bold;font-size:9pt;">WASHINGTON, DC 20549 </font>
		</p>
		<p style="margin:9pt 0pt 0pt;text-align:center;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-family:Arial;font-weight:bold;font-size:12.5pt;">SCHEDULE 14A </font>
		</p>
		<p style="margin:0pt;text-align:center;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 9pt">
			<font style="display: inline;font-family:Arial;font-weight:bold;font-size:9pt;">(Rule 14a-101) </font>
		</p>
		<p style="margin:4.5pt 0pt 0pt;text-align:center;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Arial;font-weight:bold;font-size:11pt;">INFORMATION REQUIRED IN PROXY STATEMENT </font>
		</p>
		<p style="margin:4.5pt 0pt 0pt;text-align:center;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 11pt">
			<font style="display: inline;font-family:Arial;font-weight:bold;font-size:11pt;">SCHEDULE 14A INFORMATION </font>
		</p>
		<p style="margin:4.5pt 0pt 0pt;text-align:center;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 9pt">
			<font style="display: inline;font-family:Arial;font-size:9pt;">Proxy Statement Pursuant to Section&nbsp;14(a) of the Securities </font>
		</p>
		<p style="margin:0pt;text-align:center;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 9pt">
			<font style="display: inline;font-family:Arial;font-size:9pt;">Exchange Act of 1934 (Amendment No. &nbsp;&nbsp;&nbsp;&nbsp;) </font>
		</p>
		<p style="margin:9pt 0pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 9pt">
			<font style="display: inline;font-family:Arial;font-size:9pt;">Filed by the Registrant </font><font style="display: inline;font-family:Segoe UI Symbol;font-size:9pt;">&#x2612;</font><font style="display: inline;font-family:Arial;font-size:9pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 9pt">
			<font style="display: inline;font-family:Arial;font-size:9pt;">Filed by a Party other than the Registrant </font><font style="display: inline;font-family:Segoe UI Symbol;font-size:9pt;">&#x2610;</font><font style="display: inline;font-family:Arial;font-size:9pt;">&nbsp;</font>
		</p>
		<p style="margin:9pt 0pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 9pt">
			<font style="display: inline;font-family:Arial;font-size:9pt;">Check the appropriate box: </font>
		</p>
		<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;margin-left:0pt;">
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				<td valign="middle" style="width:09.35pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size: 1pt">
						<font style="display: inline;font-size:1pt;">&#xFEFF;</font></p>
				</td>
				<td valign="bottom" style="width:08.80pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:522.55pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="middle" style="width:09.35pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 5pt">
						<font style="display: inline;font-size:5pt;">&#xFEFF;</font></p>
				</td>
				<td valign="bottom" style="width:08.80pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:522.55pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:09.35pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-family:Segoe UI Symbol;font-size:9pt;">&#x2610;</font></p>
				</td>
				<td valign="bottom" style="width:08.80pt;padding:0pt;">
					<p style="margin:0pt;line-height:2pt;font-family:Times New Roman;font-size: 6pt">
						<font style="display: inline;font-size:6.5pt;">&nbsp;&nbsp;</font></p>
				</td>
				<td valign="top" style="width:522.55pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-family:Arial;font-size:9pt;">Preliminary Proxy Statement</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:09.35pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-family:Segoe UI Symbol;font-size:9pt;">&#x2610;</font></p>
				</td>
				<td valign="bottom" style="width:08.80pt;padding:0pt;">
					<p style="margin:0pt;line-height:2pt;font-family:Times New Roman;font-size: 6pt">
						<font style="display: inline;font-size:6.5pt;">&nbsp;&nbsp;</font></p>
				</td>
				<td valign="top" style="width:522.55pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-family:Arial;font-weight:bold;font-size:9pt;">Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:09.35pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-family:Segoe UI Symbol;font-size:9pt;">&#x2610;</font></p>
				</td>
				<td valign="bottom" style="width:08.80pt;padding:0pt;">
					<p style="margin:0pt;line-height:2pt;font-family:Times New Roman;font-size: 6pt">
						<font style="display: inline;font-size:6.5pt;">&nbsp;&nbsp;</font></p>
				</td>
				<td valign="top" style="width:522.55pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-family:Arial;font-size:9pt;">Definitive Proxy Statement</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:09.35pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-family:Segoe UI Symbol;font-size:9pt;">&#x2612;</font></p>
				</td>
				<td valign="bottom" style="width:08.80pt;padding:0pt;">
					<p style="margin:0pt;line-height:2pt;font-family:Times New Roman;font-size: 6pt">
						<font style="display: inline;font-size:6.5pt;">&nbsp;&nbsp;</font></p>
				</td>
				<td valign="top" style="width:522.55pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-family:Arial;font-size:9pt;">Definitive Additional Materials</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:09.35pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-family:Segoe UI Symbol;font-size:9pt;">&#x2610;</font></p>
				</td>
				<td valign="bottom" style="width:08.80pt;padding:0pt;">
					<p style="margin:0pt;line-height:2pt;font-family:Times New Roman;font-size: 6pt">
						<font style="display: inline;font-size:6.5pt;">&nbsp;&nbsp;</font></p>
				</td>
				<td valign="top" style="width:522.55pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-family:Arial;font-size:9pt;">Soliciting Material Pursuant to &#xA7;240.14a-12</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:9pt 0pt 0pt;text-align:center;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-family:Arial;font-weight:bold;font-size:12.5pt;text-decoration:underline;">CHIPOTLE MEXICAN GRILL, INC.</font><font style="display: inline;font-family:Arial;font-weight:bold;font-size:12.5pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 9pt">
			<font style="display: inline;font-family:Arial;font-size:9pt;">(Name of Registrant as Specified in its Charter) </font>
		</p>
		<p style="margin:9pt 0pt 0pt;text-align:center;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 7pt">
			<font style="display: inline;">&nbsp;</font><font style="display: inline;font-family:Arial;font-weight:bold;font-size:7.5pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>
		</p>
		<p style="margin:1pt 124.65pt 0pt 122.4pt;border-top:1pt solid #000000 ;line-height:1pt;text-align:center;font-family:Times New Roman;font-size: 3pt">
			<font style="display: inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 9pt">
			<font style="display: inline;font-family:Arial;font-size:9pt;">(Name of Person(s) Filing Proxy Statement, if other than the Registrant) </font>
		</p>
		<p style="margin:9pt 0pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 9pt">
			<font style="display: inline;font-family:Arial;font-size:9pt;">Payment of Filing Fee (Check the appropriate box): </font>
		</p>
		<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;margin-left:0pt;">
			<tr>
				<td valign="middle" style="width:09.35pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 3pt">
						<font style="display: inline;font-size:3pt;">&#xFEFF;</font></p>
				</td>
				<td valign="bottom" style="width:08.80pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:522.55pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:09.35pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-family:Segoe UI Symbol;font-size:9pt;">&#x2612;</font></p>
				</td>
				<td valign="bottom" style="width:08.80pt;padding:0pt;">
					<p style="margin:0pt;line-height:2pt;font-family:Times New Roman;font-size: 6pt">
						<font style="display: inline;font-size:6.5pt;">&nbsp;&nbsp;</font></p>
				</td>
				<td valign="top" style="width:522.55pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-family:Arial;font-size:9pt;">No fee required.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:09.35pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-family:Segoe UI Symbol;font-size:9pt;">&#x2610;</font></p>
				</td>
				<td valign="bottom" style="width:08.80pt;padding:0pt;">
					<p style="margin:0pt;line-height:2pt;font-family:Times New Roman;font-size: 6pt">
						<font style="display: inline;font-size:6.5pt;">&nbsp;&nbsp;</font></p>
				</td>
				<td valign="top" style="width:522.55pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-family:Arial;font-size:9pt;">Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 8pt">
			<font style="display: inline;font-size:8pt;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 8pt">
			<font style="display: inline;">&nbsp;</font>
		</p>
		<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;margin-left:0pt;">
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:05.00%;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size: 10pt">
						<font style="display: inline;font-family:Arial;font-size:10pt;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:95.00%;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:05.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:10pt;">(1</font><font style="display: inline;font-family:Arial;color:#000000;font-size:10pt;">)</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:95.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-family:Arial;font-size:10pt;">Title of each class of securities to which transaction applies:</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:05.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-family:Arial;font-size:10pt;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:95.00%;border-bottom:1pt solid #000000 ;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:05.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:10pt;">(2) </font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:95.00%;border-top:1pt solid #000000 ;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:10pt;">Aggregate number of securities to which transaction applies:</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:05.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-family:Arial;font-size:10pt;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:95.00%;border-bottom:1pt solid #000000 ;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:05.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-family:Arial;font-size:10pt;">(3)</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:95.00%;border-top:1pt solid #000000 ;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:10pt;">Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:05.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-family:Arial;font-size:10pt;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:95.00%;border-bottom:1pt solid #000000 ;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:05.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-family:Arial;font-size:10pt;">(4)</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:95.00%;border-top:1pt solid #000000 ;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-family:Arial;font-size:10pt;">Proposed maximum aggregate value of transaction:</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:05.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:95.00%;border-bottom:1pt solid #000000 ;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:05.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-family:Arial;font-size:10pt;">(</font><font style="display: inline;font-family:Arial;font-size:10pt;">5</font><font style="display: inline;font-family:Arial;font-size:10pt;">)</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:95.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-family:Arial;font-size:10pt;">Total fee paid:</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:05.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:95.00%;border-bottom:1pt solid #000000 ;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
			<font style="display: inline;font-size:8pt;">&#xFEFF;</font>
		</p>
		<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="middle" style="width:01.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-size:8pt;">&#xFEFF;</font></p>
				</td>
				<td valign="bottom" style="width:02.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:97.00%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-family:Segoe UI Symbol;font-size:9pt;">&#x2610;</font></p>
				</td>
				<td valign="bottom" style="width:auto;padding:0pt;">
					<p style="margin:0pt;line-height:2pt;font-family:Times New Roman;font-size: 6pt">
						<font style="display: inline;font-size:6.5pt;">&nbsp;&nbsp;</font></p>
				</td>
				<td valign="top" style="width:auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-family:Arial;font-size:9pt;">Fee paid previously with preliminary materials.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-family:Segoe UI Symbol;font-size:9pt;">&#x2610;</font></p>
				</td>
				<td valign="bottom" style="width:auto;padding:0pt;">
					<p style="margin:0pt;line-height:2pt;font-family:Times New Roman;font-size: 6pt">
						<font style="display: inline;font-size:6.5pt;">&nbsp;&nbsp;</font></p>
				</td>
				<td valign="top" style="width:auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 9pt">
						<font style="display: inline;font-family:Arial;font-size:9pt;">Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 1pt">
			<font style="display: inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;margin-left:0pt;">
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:05.00%;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size: 10pt">
						<font style="display: inline;font-family:Arial;font-size:10pt;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:95.00%;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:05.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:10pt;">(1</font><font style="display: inline;font-family:Arial;color:#000000;font-size:10pt;">)</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:95.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-family:Arial;font-size:10pt;">Amount Previously Paid:</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:05.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-family:Arial;font-size:10pt;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:95.00%;border-bottom:1pt solid #000000 ;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:05.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:10pt;">(2) </font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:95.00%;border-top:1pt solid #000000 ;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:10pt;">Form, Schedule or Registration Statement No.:</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:05.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-family:Arial;font-size:10pt;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:95.00%;border-bottom:1pt solid #000000 ;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:05.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-family:Arial;font-size:10pt;">(3)</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:95.00%;border-top:1pt solid #000000 ;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:10pt;">Filing Party:</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:05.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-family:Arial;font-size:10pt;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:95.00%;border-bottom:1pt solid #000000 ;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:05.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-family:Arial;font-size:10pt;">(4)</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:95.00%;border-top:1pt solid #000000 ;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-family:Arial;font-size:10pt;">Date Filed:</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:05.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:95.00%;border-bottom:1pt solid #000000 ;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">

		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt;font-family:Times New Roman;;font-size: 10pt">
		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt;font-family:Times New Roman;;font-size: 10pt"><font style="display: inline;font-family:Arial;color:#000000;font-size:10pt;"></font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-family:Arial;color:#000000;font-size:10pt;">Chipotle Mexican Grill, Inc. has made annual equity awards under the Amended and Restated Chipotle Mexican Grill, Inc. 2011 Stock Incentive Plan to a broad-based group of company employees, and is furnishing this report to provide updated information regarding shares remaining available for issuance under the </font><font style="display: inline;font-family:Arial;color:#000000;font-size:10pt;">P</font><font style="display: inline;font-family:Arial;color:#000000;font-size:10pt;">lan after giving effect to such awards.&nbsp;&nbsp;In connection with Proposal 4 in Chipotle&#x2019;s proxy statement for the 2018 annual meeting of shareholders, in which Chipotle is proposing to amend the 2011 Stock Incentive Plan to, among other changes, make an additional 1,270,000 shares of common stock available under the plan, the following table presents information as of March 31, 2018 regarding shares available for grant, and options and rights outstanding, under the 2011 Stock Incentive Plan. All options reflected are stock-only stock appreciation rights denominated in shares of Chipotle common stock.</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-family:Arial;color:#000000;font-size:10pt;">&#xFEFF;</font>
		</p>
		<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="width:81.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-weight:bold;color:#000000;font-size:8pt;">&#xFEFF;</font></p>
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;height:1.00pt;overflow:hidden">
						&nbsp;</p>
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:18.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;background-color: #auto;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-weight:bold;color:#000000;font-size:8pt;">, &nbsp;</font><font style="display: inline;font-family:Arial;font-weight:bold;color:#000000;font-size:8pt;">2018</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:81.66%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #auto;height:23.75pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">&#xFEFF;</font></p>
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-weight:bold;color:#000000;font-size:8pt;">Amended and Restated Chipotle Mexican Grill, Inc. </font></p>
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-weight:bold;color:#000000;font-size:8pt;">2011 Stock Incentive Plan</font></p>
				</td>
				<td valign="bottom" style="width:18.34%;border-top:1pt solid #000000 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #auto;height:23.75pt;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-weight:bold;color:#000000;font-size:8pt;">As of</font></p>
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-weight:bold;color:#000000;font-size:8pt;">March 31</font><font style="display: inline;font-family:Arial;font-weight:bold;color:#000000;font-size:8pt;">, &nbsp;</font><font style="display: inline;font-family:Arial;font-weight:bold;color:#000000;font-size:8pt;">2018</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:81.66%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;height:15.75pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">Shares Available for Grant</font></p>
				</td>
				<td valign="bottom" style="width:18.34%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;height:15.75pt;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">1,274,342</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:81.66%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;height:15.75pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">Full-Value Awards Outstanding</font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;font-size:4pt;vertical-align:super;line-height:100%">(1)</font></p>
				</td>
				<td valign="bottom" style="width:18.34%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;height:15.75pt;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">28</font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">4,056</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:81.66%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;height:15.75pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">Stock Options/Appreciation Rights Outstanding</font></p>
				</td>
				<td valign="bottom" style="width:18.34%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;height:15.75pt;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">2,</font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">5</font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">38,</font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">802</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:81.66%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;height:15.75pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">Weighte</font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">d</font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;"> Average Exercise Price of Options/Appreciation Rights </font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">O</font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">utstanding</font></p>
				</td>
				<td valign="bottom" style="width:18.34%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;height:15.75pt;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">$4</font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">55</font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">.</font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">07</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:81.66%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;height:16.50pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">Weighted Average Remaining Years of Contractual Life</font></p>
				</td>
				<td valign="bottom" style="width:18.34%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;height:16.50pt;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">4.1</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<div style="width:100%"><table style="width:100%; table-layout: fixed;" cellpadding="0" cellspacing="0"><tr><td style="width:54pt;"><p style="width:54pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt;">
			<p style="color:#000000;font-family:Times New Roman;font-size: 8pt;margin:0pt;">
				<font style="margin:0pt;font-size:8pt;color:#000000;font-family:Times New Roman;;"> (1)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="color:#000000;font-family:Times New Roman;font-size: 8pt;margin:0pt;">
			<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">Includes </font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">10</font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">3,718</font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">&nbsp;</font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">shares underlying awards with performance-based vesting conditions.&nbsp;&nbsp;See further detail below</font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;"> regarding full value award history</font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">.</font></p></td></tr></table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-family:Arial;color:#000000;font-size:10pt;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-family:Arial;color:#000000;font-size:10pt;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-family:Arial;color:#000000;font-size:10pt;">Additionally, Chipotle is making the following information available regarding </font><font style="display: inline;font-family:Arial;color:#000000;font-size:10pt;">full value</font><font style="display: inline;font-family:Arial;color:#000000;font-size:10pt;"> awards granted under the plan over the three-year period from 201</font><font style="display: inline;font-family:Arial;color:#000000;font-size:10pt;">5</font><font style="display: inline;font-family:Arial;color:#000000;font-size:10pt;"> to 201</font><font style="display: inline;font-family:Arial;color:#000000;font-size:10pt;">7</font><font style="display: inline;font-family:Arial;color:#000000;font-size:10pt;"> and in the three months ended March 31, 2018</font><font style="display: inline;font-family:Arial;color:#000000;font-size:10pt;">.</font><font style="display: inline;font-family:Arial;color:#000000;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-family:Arial;color:#000000;font-size:10pt;">&#xFEFF;</font>
		</p>
		<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="top" style="width:42.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="width:10.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:11.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:07.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:10.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:11.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:07.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td rowspan="2" valign="bottom" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:42.34%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-weight:bold;color:#000000;font-size:8pt;">Detail Regarding</font></p>
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-weight:bold;color:#000000;font-size:8pt;">Full Value Awards Under Amended and Restated Chipotle Mexican Grill, Inc. 2011 Stock Incentive Plan</font></p>
				</td>
				<td colspan="3" valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:28.86%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-weight:bold;color:#000000;font-size:8pt;">2018 (thr</font><font style="display: inline;font-family:Arial;font-weight:bold;color:#000000;font-size:8pt;">ough</font><font style="display: inline;font-family:Arial;font-weight:bold;color:#000000;font-size:8pt;"> 3/31/2018)</font></p>
				</td>
				<td colspan="3" valign="bottom" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:28.78%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-weight:bold;color:#000000;font-size:8pt;">2017</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:10.34%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">Time-Based</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:11.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">Performance-Based</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:07.52%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">Total</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:10.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">Time-Based</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:11.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">Performance-Based</font></p>
				</td>
				<td valign="bottom" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:07.52%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">Total</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:42.34%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">Outstanding, </font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">Jan. 1</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:10.34%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">80,333</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:11.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">132,554</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:07.52%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">212,887</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:10.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">9,401</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:11.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">115,942</font></p>
				</td>
				<td valign="bottom" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:07.52%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">125,343</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:42.34%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">Granted</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:10.34%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">10</font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">3,964</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:11.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">24,235</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:07.52%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">128,1</font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">99</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:10.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">90,296</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:11.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">36,400</font></p>
				</td>
				<td valign="bottom" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:07.52%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">126,696</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:42.34%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">Vested</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:10.34%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">(300)</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:11.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">(29,117)</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:07.52%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">(29,417)</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:10.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">(7,965)</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:11.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">&#x2013;</font></p>
				</td>
				<td valign="bottom" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:07.52%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">(7,965)</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:42.34%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">Forfeited or cancelled</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:10.34%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">(3,659)</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:11.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">(23,954)</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:07.52%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">(27,613)</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:10.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">(11,399)</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:11.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">(19,788)</font></p>
				</td>
				<td valign="bottom" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:07.52%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">(31,187)</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:42.34%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">Outstanding, end of </font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">period</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:10.34%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">180,338</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:11.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">103,718</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:07.52%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">284,056</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:10.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">80,333</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:11.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">132,554</font></p>
				</td>
				<td valign="bottom" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:07.52%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">212,887</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:42.34%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">Weighted average remaining recognition period of non-vested stock awards probable of vesting (</font><font style="display: inline;font-family:Arial;font-style:italic;font-size:8pt;color:#000000;">yrs</font><font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">)</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:10.34%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">1.9</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:11.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">2.0</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:07.52%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:10.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">1.6</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:11.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">1.5</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:07.52%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:42.34%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">Unearned compensation for non-vested stock awards </font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:10.34%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">$4</font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">2,701,431</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:11.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">$</font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">19,668,229</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:07.52%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:10.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">$18,070,605</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:11.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">$</font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">22,493,186</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:07.52%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;width:42.34%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">Aggregate intrinsic value of outstanding non-vested stock awards probable of vesting </font><font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">(2)</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;width:10.34%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">$51,424,895</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;width:11.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">$</font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">31,</font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">011,106</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;width:07.52%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;width:10.26%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">$</font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">20,257,995</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;width:11.00%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">$</font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">3</font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">3,815,643</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;width:07.52%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;color:#000000;">&#xFEFF;</font>
		</p>
		<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="top" style="width:42.16%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="width:10.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:10.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:08.92%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:09.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:10.98%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:07.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td rowspan="2" valign="bottom" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:42.16%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-weight:bold;color:#000000;font-size:8pt;">Detail Regarding</font></p>
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-weight:bold;color:#000000;font-size:8pt;">Full Value Awards Under Amended and Restated Chipotle Mexican Grill, Inc. 2011 Stock Incentive Plan</font></p>
				</td>
				<td colspan="3" valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:29.56%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-weight:bold;color:#000000;font-size:8pt;">2016</font></p>
				</td>
				<td colspan="3" valign="bottom" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:28.28%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-weight:bold;color:#000000;font-size:8pt;">2015</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:10.34%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">Time-Based</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:10.30%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">Performance-Based</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:08.92%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">Total</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:09.94%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">Time-Based</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:10.98%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">Performance-Based</font></p>
				</td>
				<td valign="bottom" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:07.36%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">Total</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:42.16%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">Outstanding, </font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">Jan. 1</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:10.34%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">9,513</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:10.30%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">106,492</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:08.92%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">116,005</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:09.94%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">4,087</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:10.98%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">66,000</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:07.36%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">70,087</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:42.16%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">Granted</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:10.34%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">6,723</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:10.30%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">83,250</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:08.92%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">89,973</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:09.94%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">6,916</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:10.98%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">40,492</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:07.36%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">47,408</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:42.16%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">Vested</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:10.34%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">(</font><font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">6,685</font><font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">)</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:10.30%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">&#x2013;</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:08.92%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">(</font><font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">6,685</font><font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">)</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:09.94%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">(</font><font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">1,030</font><font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">)</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:10.98%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">&#x2013;</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:07.36%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">(</font><font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">1,030</font><font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">)</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;width:42.16%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">Forfeited or cancelled</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:10.34%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">(</font><font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">150</font><font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">)</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:10.30%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">(</font><font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">73,800</font><font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">)</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:08.92%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">(</font><font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">73,950</font><font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">)</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:09.94%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">(</font><font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">460</font><font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">)</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;width:10.98%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">&#x2013;</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;width:07.36%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">(</font><font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">460</font><font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">)</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="border-right:1pt solid #000000 ;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;width:42.16%;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">Outstanding, end of </font><font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">period</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;width:10.34%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">9,401</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;width:10.30%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">115,942</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;width:08.92%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">125,343</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;width:09.94%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">9,513</font></p>
				</td>
				<td valign="top" style="border-right:1pt solid #000000 ;border-left:1pt solid #000000 ;border-top:1pt solid #000000 ;border-bottom:1pt solid #000000 ;width:10.98%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">106,492</font></p>
				</td>
				<td valign="top" style="border-left:1pt solid #000000 ;border-top:1pt solid #000000 ;border-right:1pt solid #000000 ;border-bottom:1pt solid #000000 ;width:07.36%;padding:0pt 6.5pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
						<font style="display: inline;font-family:Arial;font-size:8pt;color:#000000;">116,005</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 6pt">
			<font style="display: inline;font-family:Arial;font-size:6pt;color:#000000;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 6pt">
			<font style="display: inline;font-family:Arial;font-size:6pt;color:#000000;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 6pt">
			<font style="display: inline;font-family:Arial;font-size:6pt;color:#000000;">&#xFEFF;</font>
		</p>
		<div style="width:100%"><table style="width:100%; table-layout: fixed;" cellpadding="0" cellspacing="0"><tr><td style="width:54pt;"><p style="width:54pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 18.00pt;">
			<p style="font-family:Times New Roman;font-size: 8pt;margin:0pt;">
				<font style="margin:0pt;font-size:8pt;font-family:Times New Roman;;"> (2)</font>
			</p>
		</td><td style="width:0pt;"><p style="width:0pt;width:0pt;font-size:0pt;"></p></td><td align="left" valign="top">
			<p style="font-family:Times New Roman;font-size: 8pt;margin:0pt;">
			<font style="display: inline;font-family:Arial;color:#000000;font-size:8pt;">Performance-based columns include 58,582 shares granted in 2016 with market performance conditions that will not vest unless our stock price exceeds an average of $700.00 per share for a 60 trading day period, and 24,268 shares granted in 2017 with market performance conditions that will not vest unless our stock price exceeds an average of $600.00 per share for a 60 trading day period. The aggregate intrinsic value reported for these market based performance shares was $26,769,664 as of March 31, 2018 and $23,946,136 as of December 31, 2017, notwithstanding that our stock price was significantly below the vesting thresholds as of each of those dates. </font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 0pt 36pt;font-family:Times New Roman;font-size: 6pt">
			<font style="display: inline;font-family:Arial;font-size:6pt;color:#000000;">&#xFEFF;</font>
		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

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