FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Moran Montgomery F 		2. Issuer Name and Ticker or Trading Symbol

CHIPOTLE MEXICAN GRILL INC [ CMG ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
Co-Chief Executive Officer
(Last)          (First)          (Middle)

1401 WYNKOOP STREET, SUITE 500 		3. Date of Earliest Transaction (MM/DD/YYYY)

5/19/2015
(Street)

DENVER, CO 80202
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock   5/19/2015     M    70000   A $103.79   224755   D    
Common Stock   5/19/2015     F    6611   D $628.00   218144   D    
Common Stock   5/19/2015     F    4982   D $625.00   213162   D    
Common Stock   5/19/2015     S    16140   D $631.90   (1) 197022   D    
Common Stock   5/19/2015     S    2863   D $632.63   (2) 194159   D    
Common Stock   5/19/2015     S    6511   D $634.07   (3) 187648   D    
Common Stock   5/19/2015     S    6154   D $635.24   (4) 181494   D    
Common Stock   5/19/2015     S    5018   D $636.33   (5) 176476   D    
Common Stock   5/19/2015     S    19820   D $637.40   (6) 156656   D    
Common Stock   5/19/2015     S    1100   D $638.41   (7) 155556   D    
Common Stock   5/19/2015     S    801   D $639.12   (8) 154755   D    
Common Stock   5/20/2015     M    75000   A $268.73   229755   D    
Common Stock   5/20/2015     M    75000   A $268.73   304755   D    
Common Stock   5/20/2015     F    55278   D $632.00   249477   D    
Common Stock   5/20/2015     F    8504   D $632.03   240973   D    
Common Stock   5/20/2015     S    24386   D $628.49   (9) 216587   D    
Common Stock   5/20/2015     S    22719   D $629.45   (10) 193868   D    
Common Stock   5/20/2015     S    7414   D $630.64   (11) 186454   D    
Common Stock   5/20/2015     S    24342   D $631.82   (12) 162112   D    
Common Stock   5/20/2015     S    7357   D $632.37   (13) 154755   D    

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
2010 Stock Appreciation Rights   $103.79   5/19/2015     M/K         70000    2/16/2013   2/16/2017   Common Stock   70000   $0.00   0   D    
2011 Stock Appreciation Rights   $268.73   5/20/2015     M/K         75000    2/11/2013   2/11/2018   Common Stock   75000   $0.00   0   D    
2011 Performance SOSARs   $268.73   5/20/2015     M/K         75000    2/11/2013   2/11/2018   Common Stock   75000   $0.00   0   D    
2012 Stock Appreciation Rights   $371.63                    2/6/2014   2/6/2019   Common Stock   75000     75000   D    
2012 Performance SOSARs   $371.63                    2/6/2014   (14) 2/6/2019   Common Stock   75000     75000   D    
2013 Stock Appreciation Rights   $318.45                    2/7/2015   (15) 2/7/2020   Common Stock   75000     75000   D    
2013 Performance SOSARs   $318.45                    2/20/2015   2/7/2020   Common Stock   37500     37500   D    
2014 Stock Appreciation Rights   $543.20                    2/3/2016   (16) 2/3/2021   Common Stock   87500     87500   D    

Explanation of Responses:
( 1)  Reflects a weighted-average price. Actual sale prices ranged from $631.50 to $632.47 per share. The filing person undertakes to furnish to the issuer, any requesting shareholder of the issuer, or the staff of the Securities and Exchange Commission complete information regarding the number of shares sold at each separate price.
( 2)  Reflects a weighted-average price. Actual sale prices ranged from $632.50 to $633.15 per share. The filing person undertakes to furnish to the issuer, any requesting shareholder of the issuer, or the staff of the Securities and Exchange Commission complete information regarding the number of shares sold at each separate price.
( 3)  Reflects a weighted-average price. Actual sale prices ranged from $633.68 to $634.65 per share. The filing person undertakes to furnish to the issuer, any requesting shareholder of the issuer, or the staff of the Securities and Exchange Commission complete information regarding the number of shares sold at each separate price.
( 4)  Reflects a weighted-average price. Actual sale prices ranged from $634.73 to $635.65 per share. The filing person undertakes to furnish to the issuer, any requesting shareholder of the issuer, or the staff of the Securities and Exchange Commission complete information regarding the number of shares sold at each separate price.
( 5)  Reflects a weighted-average price. Actual sale prices ranged from $635.84 to $636.78 per share. The filing person undertakes to furnish to the issuer, any requesting shareholder of the issuer, or the staff of the Securities and Exchange Commission complete information regarding the number of shares sold at each separate price.
( 6)  Reflects a weighted-average price. Actual sale prices ranged from $636.89 to $637.88 per share. The filing person undertakes to furnish to the issuer, any requesting shareholder of the issuer, or the staff of the Securities and Exchange Commission complete information regarding the number of shares sold at each separate price.
( 7)  Reflects a weighted-average price. Actual sale prices ranged from $637.93 to $638.69 per share. The filing person undertakes to furnish to the issuer, any requesting shareholder of the issuer, or the staff of the Securities and Exchange Commission complete information regarding the number of shares sold at each separate price.
( 8)  Reflects a weighted-average price. Actual sale prices ranged from $639.00 to $639.27 per share. The filing person undertakes to furnish to the issuer, any requesting shareholder of the issuer, or the staff of the Securities and Exchange Commission complete information regarding the number of shares sold at each separate price.
( 9)  Reflects a weighted-average price. Actual sale prices ranged from $628.05 to $629.05 per share. The filing person undertakes to furnish to the issuer, any requesting shareholder of the issuer, or the staff of the Securities and Exchange Commission complete information regarding the number of shares sold at each separate price.
( 10)  Reflects a weighted-average price. Actual sale prices ranged from $629.06 to $630.00 per share. The filing person undertakes to furnish to the issuer, any requesting shareholder of the issuer, or the staff of the Securities and Exchange Commission complete information regarding the number of shares sold at each separate price.
( 11)  Reflects a weighted-average price. Actual sale prices ranged from $630.10 to $631.06 per share. The filing person undertakes to furnish to the issuer, any requesting shareholder of the issuer, or the staff of the Securities and Exchange Commission complete information regarding the number of shares sold at each separate price.
( 12)  Reflects a weighted-average price. Actual sale prices ranged from $631.16 to $632.16 per share. The filing person undertakes to furnish to the issuer, any requesting shareholder of the issuer, or the staff of the Securities and Exchange Commission complete information regarding the number of shares sold at each separate price.
( 13)  Reflects a weighted-average price. Actual sale prices ranged from $632.17 to $632.86 per share. The filing person undertakes to furnish to the issuer, any requesting shareholder of the issuer, or the staff of the Securities and Exchange Commission complete information regarding the number of shares sold at each separate price.
( 14)  On February 6, 2012, Chipotle granted the reporting person performance-vesting stock-only stock appreciation rights, or Performance SOSARs, in respect of 75,000 shares of Chipotle common stock. Vesting of the Performance SOSARs was contingent on Chipotle's achievement of stated levels of cumulative cash flow from operations prior to the fourth and fifth fiscal year-ends following the award date, with vesting to occur no sooner than February 6, 2014 and 2015 (with half of each Performance SOSAR subject to each such time-based vesting date), subject to possible acceleration. The second cash flow from operations target was achieved in the 2014 fiscal year, resulting in the Performance SOSARs in respect of the second tranche of 37,500 shares vesting in full. The first tranche of 37,500 shares was exercisable as of February 6, 2014.
( 15)  One half of the 2013 Stock Appreciation Rights vested on February 7, 2015 and the remaining half are scheduled to vest on February 7, 2016, subject to possible acceleration of vesting.
( 16)  The 2014 Stock Appreciation Rights are scheduled to vest in equal installments on February 3, 2016 and February 3, 2017, subject to possible acceleration of vesting.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Moran Montgomery F
1401 WYNKOOP STREET, SUITE 500
DENVER, CO 80202 		X
Co-Chief Executive Officer

Signatures
Michael M. McGawn, as attorney-in-fact 5/21/2015
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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