What the executives and directors of Chipotle Mexican Grill actually did with their own shares, decoded from three years of SEC Form 4 filings.
The tape: three years of insider trades
Every marker sits at the exact price reported on the Form 4. The line is the monthly median of all prices insiders reported, so the chart needs no market feed; the gray strip is routine flow (vestings, tax withholding, gifts) that headlines love to miscount as selling.
Where the shares went, last 12 months
Every Form 4 movement decomposed: what flowed in (grants, vested equity, purchases) and what flowed out (tax withholding, plan sales, discretionary sales, gifts). Counted in shares, because grants carry no price.
Skin in the game
Directly held shares as reported after each trade, indexed to 100 five years back. Direct holdings only: trust and family-entity positions are per-entity in the filings and do not sum honestly, so this chart refuses to guess. The steps are the trades.
Who holds what
| Insider | Role | Shares held | Buys 12 m | Sales 12 m |
|---|---|---|---|---|
| Hartung Jack President, Chief Strategy Off | Officer | 3.6M | — | — |
| Baldocchi Albert S | Director | 3.2M | — | — |
| Garner Curtis E Pres, Chief Strgy & Tech Off | Officer | 552.5K | — | $7M |
| Boatwright Scott Chief Executive Officer | CEO | 470.9K | — | — |
| Brandt Christopher W President, Chief Brand Officer | Officer | 334.7K | — | — |
| Schalow Laurie Chief Corp Affairs Officer | Officer | 233.7K | — | — |
| Rymer Adam T Chief Financial Officer | CFO | 102.1K | — | — |
| Eskenazi Ilene Chief Legal and HR Officer | Officer | 95.7K | — | $1.1M |
| Theodoredis Roger E Chief Legal Officer & GC | Officer | 79.5K | — | — |
| Carey Matt | Director | 66.7K | — | — |
| Hickenlooper Robin S | Director | 50.3K | — | — |
| Maw Scott Harlan | Director | 49.5K | — | — |
| FILIKRUSHEL PATRICIA | Director | 43.3K | — | $123K |
| Gutierrez Mauricio | Director | 42.4K | — | — |
Open-market trade log
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-02-24 | FILIKRUSHEL PATRICIA (Director) | Discretionary sale | 3,350 | $36.58 | $123K |
| 2026-02-06 | Garner Curtis E (Officer) | Discretionary sale | 61.1K | $40.01 | $2.4M |
| 2025-12-12 | Garner Curtis E (Officer) | Discretionary sale | 67.6K | $36.05 | $2.4M |
| 2025-12-01 | Garner Curtis E (Officer) | Discretionary sale | 61.9K | $34.67 | $2.1M |
| 2025-08-25 | Eskenazi Ilene (Officer) | Discretionary sale | 26.6K | $43.15 | $1.1M |
| 2025-07-07 | Garner Curtis E (Officer) | Planned sale (10b5-1) | 15.8K | $56.32 | $887K |
| 2025-06-25 | Garner Curtis E (Officer) | Planned sale (10b5-1) | 63K | $55.14 | $3.5M |
| 2025-06-12 | FILIKRUSHEL PATRICIA (Director) | Discretionary sale | 2,076 | $51.13 | $106K |
| 2025-06-12 | Hickenlooper Robin S (Director) | Discretionary sale | 2,250 | $51.21 | $115K |
| 2025-06-06 | Boatwright Scott (CEO) | Discretionary sale | 19K | $52.48 | $997K |
| 2025-06-04 | Garner Curtis E (Officer) | Discretionary sale | 23.3K | $52.14 | $1.2M |
| 2025-06-02 | Theodoredis Roger E (Officer) | Discretionary sale | 113.9K | $49.70 | $5.7M |
| 2025-05-21 | Garner Curtis E (Officer) | Discretionary sale | 23.1K | $50.84 | $1.2M |
| 2025-05-14 | McConnell Jamie (Officer) | Discretionary sale | 3,087 | $52.42 | $162K |
| 2025-03-13 | Garner Curtis E (Officer) | Discretionary sale | 6,891 | $48.56 | $335K |
| 2025-03-12 | Garner Curtis E (Officer) | Discretionary sale | 6,930 | $50.21 | $348K |
| 2025-03-11 | Garner Curtis E (Officer) | Discretionary sale | 6,940 | $50.53 | $351K |
| 2025-03-05 | Gutierrez Mauricio (Director) | Open-market buy | 9,400 | $53.00 | $498K |
| 2025-02-25 | Garner Curtis E (Officer) | Discretionary sale | 20.9K | $52.36 | $1.1M |
| 2025-02-10 | McConnell Jamie (Officer) | Discretionary sale | 11.3K | $58.70 | $664K |
| 2025-02-07 | Garner Curtis E (Officer) | Planned sale (10b5-1) | 15.8K | $57.31 | $903K |
| 2025-01-07 | Garner Curtis E (Officer) | Planned sale (10b5-1) | 15.8K | $58.24 | $917K |
| 2024-12-11 | Schalow Laurie (Officer) | Discretionary sale | 16.8K | $65.16 | $1.1M |
| 2024-12-10 | Schalow Laurie (Officer) | Discretionary sale | 4,404 | $65.01 | $286K |
| 2024-12-09 | Garner Curtis E (Officer) | Planned sale (10b5-1) | 1,032 | $64.89 | $67K |
| 2024-12-09 | Garner Curtis E (Officer) | Planned sale (10b5-1) | 14.7K | $64.33 | $947K |
| 2024-12-06 | Garner Curtis E (Officer) | Discretionary sale | 44.5K | $65.25 | $2.9M |
| 2024-11-12 | Brandt Christopher W (Officer) | Discretionary sale | 20K | $60.01 | $1.2M |
| 2024-11-07 | Garner Curtis E (Officer) | Planned sale (10b5-1) | 14 | $59.10 | $827 |
| 2024-11-07 | Garner Curtis E (Officer) | Planned sale (10b5-1) | 15.7K | $58.46 | $920K |
| 2024-10-07 | Garner Curtis E (Officer) | Planned sale (10b5-1) | 15.8K | $57.05 | $899K |
| 2024-09-12 | Hickenlooper Robin S (Director) | Discretionary sale | 1,790 | $56.38 | $101K |
| 2024-09-11 | Garner Curtis E (Officer) | Planned sale (10b5-1) | 15.8K | $55.02 | $867K |
| 2024-08-06 | Garner Curtis E (Officer) | Discretionary sale | 17.4K | $54.68 | $951K |
| 2024-07-29 | Garner Curtis E (Officer) | Discretionary sale | 60.2K | $50.96 | $3.1M |
| 2024-06-13 | Hartung Jack (CFO) | Discretionary sale | 2,461 | $3249.01 | $8M |
| 2024-04-26 | Baldocchi Albert S (Director) | Discretionary sale | 5 | $3165.00 | $16K |
| 2024-04-26 | Baldocchi Albert S (Director) | Discretionary sale | 18 | $3167.09 | $57K |
| 2024-04-26 | Baldocchi Albert S (Director) | Discretionary sale | 30 | $3162.50 | $95K |
| 2024-04-26 | Baldocchi Albert S (Director) | Discretionary sale | 947 | $3166.10 | $3M |
| 2024-04-26 | Theodoredis Roger E (Officer) | Discretionary sale | 821 | $3158.34 | $2.6M |
| 2024-04-26 | Theodoredis Roger E (Officer) | Discretionary sale | 1,688 | $3167.40 | $5.3M |
| 2024-04-26 | Niccol Brian R (CEO) | Discretionary sale | 100 | $3177.99 | $318K |
| 2024-04-26 | Niccol Brian R (CEO) | Discretionary sale | 140 | $3194.60 | $447K |
| 2024-04-26 | Niccol Brian R (CEO) | Discretionary sale | 170 | $3193.31 | $543K |
| 2024-04-26 | Niccol Brian R (CEO) | Discretionary sale | 206 | $3192.82 | $658K |
| 2024-04-26 | Niccol Brian R (CEO) | Discretionary sale | 341 | $3191.44 | $1.1M |
| 2024-04-26 | Niccol Brian R (CEO) | Discretionary sale | 370 | $3180.79 | $1.2M |
| 2024-04-26 | Niccol Brian R (CEO) | Discretionary sale | 401 | $3179.65 | $1.3M |
| 2024-04-26 | Niccol Brian R (CEO) | Discretionary sale | 410 | $3185.72 | $1.3M |
| 2024-04-26 | Niccol Brian R (CEO) | Discretionary sale | 412 | $3190.07 | $1.3M |
| 2024-04-26 | Niccol Brian R (CEO) | Discretionary sale | 451 | $3182.50 | $1.4M |
| 2024-04-26 | Niccol Brian R (CEO) | Discretionary sale | 470 | $3186.67 | $1.5M |
| 2024-04-26 | Niccol Brian R (CEO) | Discretionary sale | 491 | $3188.72 | $1.6M |
| 2024-04-26 | Niccol Brian R (CEO) | Discretionary sale | 590 | $3187.79 | $1.9M |
| 2024-04-26 | Niccol Brian R (CEO) | Discretionary sale | 911 | $3184.60 | $2.9M |
| 2024-04-26 | Niccol Brian R (CEO) | Discretionary sale | 943 | $3183.48 | $3M |
| 2024-04-26 | Brandt Christopher W (Officer) | Discretionary sale | 51 | $3155.18 | $161K |
| 2024-04-26 | Brandt Christopher W (Officer) | Discretionary sale | 100 | $3156.77 | $316K |
| 2024-04-26 | Brandt Christopher W (Officer) | Discretionary sale | 121 | $3151.70 | $381K |
“Since trade” compares with the latest insider-implied price, not a market quote; this site carries no market data by design.
Filing hygiene
How to read this
A Form 4 transaction code decides everything. P is an open-market purchase and S an open-market sale; those two are the only codes where an insider chose to trade. A is a grant, M an option exercise or vesting, F shares withheld to cover tax, G a gift. Most “insiders dumped billions” headlines are code F and M mechanics.
Sales flagged 10b5-1 run on a plan the insider adopted in advance; since 2023 every Form 4 carries that flag. Buys have historically predicted returns, sales mostly have not, and this page states filings, not advice.