filings.toolsItem 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED SHAREHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
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Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED SHAREHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Our common stock trades on the New York Stock Exchange under the symbol “CMG.”
As of January 30, 2026, there were approximately 2,652 shareholders of record. This does not include persons whose stock is in nominee or “street name” accounts through brokers.
Purchases of Equity Securities by the Issuer
The table below reflects shares of common stock we repurchased during the fourth quarter of 2025.
| Period | Total Number of Shares Purchased | Average Price Paid Per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs**(1)** | Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs**(2)** | ||||||||||||||||||||||
| Purchased 10/1 through 10/31 | 5,104,055 | $ | 38.89 | 5,104,055 | $ | 453,758,675 | ||||||||||||||||||||
| Purchased 11/1 through 11/30 | 10,929,053 | $ | 31.30 | 10,929,053 | $ | 111,656,732 | ||||||||||||||||||||
| Purchased 12/1 through 12/31 | 5,688,884 | $ | 35.33 | 5,688,884 | $ | 1,710,669,225 | ||||||||||||||||||||
| Total | 21,721,992 | $ | 34.14 | 21,721,992 |
(1)Shares were repurchased pursuant to repurchase authorizations announced on July 23, 2025, September 15, 2025, and December 8, 2025.
(2)The December total includes $1.8 billion in additional authorizations approved by our Board of Directors on December 4, 2025 and announced on December 8, 2025. There is no expiration date for this program. The authorization to repurchase shares will end when we have repurchased the maximum amount of shares authorized, or we have determined to discontinue such repurchases.
Dividend Policy
We are not required to pay any dividends and have not declared or paid any cash dividends on our common stock. We intend to continue to retain earnings for use in the operation and expansion of our business and to repurchase shares of common stock (subject to market conditions), and therefore do not anticipate paying any cash dividends on our common stock in the foreseeable future.
COMPARISON OF CUMULATIVE TOTAL RETURN
The following graph compares the cumulative annual stockholders return on our common stock from December 31, 2020, through December 31, 2025, to that of the total return index for the S&P 500 and the S&P 500 Restaurants Index assuming an investment of $100 on December 31, 2020. In calculating total annual stockholder return, reinvestment of dividends, if any, is assumed. The indices are included for comparative purposes only. They do not necessarily reflect management’s opinion that such indices are an appropriate measure of the relative performance of our common stock. The values shown are neither indicative nor determinative of future performance. This graph is not “soliciting material,” is not deemed filed with the Securities and Exchange Commission and is not to be incorporated by reference in any of our filings under the Securities Act or the Exchange Act, whether made before or after the date hereof and irrespective of any general incorporation language in any such filing.
| Company/Index | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |||||||||||||||||||||||||||||
| Chipotle Mexican Grill, Inc. | $ | 100 | $ | 126 | $ | 100 | $ | 165 | $ | 217 | $ | 134 | |||||||||||||||||||||||
| S&P 500 | 100 | 129 | 106 | 133 | 167 | 196 | |||||||||||||||||||||||||||||
| S&P 500 Restaurants | 100 | 123 | 113 | 129 | 136 | 136 |
*$100 invested on December 31, 2020, in stock or index, including reinvestment of dividends.
Fiscal year ended December 31, 2025.
Source data: Bloomberg
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