Chipotle 2012 Annual Report Download - page 114

Download and view the complete annual report

Please find page 114 of the 2012 Chipotle annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 136

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136

SUMMARY COMPENSATION TABLE
Name
and Principal Position Year Salary
Stock
Awards (1)
Option
Awards (2)
Non-Equity
Incentive Plan
Compensation (3)
All Other
Compensation (4) Total
Steve Ells ............... 2012 $1,380,769 — $15,742,500 $2,404,864 $213,163 $19,741,296
Chairman and Co-Chief 2011 $1,280,769 — $15,286,500 $2,652,000 $172,302 $19,391,571
Executive Officer 2010 $1,180,769 $4,400,800 $ 5,902,500 $2,448,000 $163,801 $14,095,870
Monty Moran ............ 2012 $1,180,769 — $15,742,500 $2,061,312 $161,869 $19,146,450
Co-Chief Executive Officer 2011 $1,080,769 — $15,286,500 $2,244,000 $148,458 $18,759,728
2010 $ 971,154 $4,400,800 $ 5,902,500 $2,040,000 $135,052 $13,449,506
Jack Hartung ............ 2012 $ 597,888 — $ 5,247,500 $ 781,402 $169,267 $ 6,796,057
Chief Financial Officer 2011 $ 553,600 — $ 5,095,500 $ 859,248 $147,656 $ 6,656,004
2010 $ 510,385 $2,200,400 $ 1,967,500 $ 795,600 $146,654 $ 5,620,539
Bob Blessing (5) ......... 2012 $ 394,972 — $ 1,679,200 $ 287,207 $ 98,802 $ 2,460,181
Chief Development Officer 2011 $ 366,962 — $ 1,630,560 $ 393,446 $ 78,987 $ 2,469,955
2010 $ 345,192 $ 605,110 $ 629,600 $ 370,286 $ 98,415 $ 2,048,603
Mark Crumpacker ........ 2012 $ 354,517 — $ 1,679,200 $ 308,888 $110,995 $ 2,453,600
Chief Marketing Officer 2011 $ 328,961 — $ 1,426,740 $ 339,660 $ 78,927 $ 2,174,288
2010 $ 309,692 $ 605,110 $ 511,550 $ 301,860 $ 78,273 $ 1,806,485
(1) Amounts under “Stock Awards” in 2010 represent the grant date fair value under FASB Topic 718 of performance shares awarded in
2010 and for which vesting was considered probable as of the grant date.
(2) Amounts under “Option Awards” represent the grant date fair value under FASB Topic 718 of SOSARs awarded in the relevant year.
See Note 5 to our audited consolidated financial statements for the year ended December 31, 2012, which are included in our Annual
Report on Form 10-K filed with the SEC on February 8, 2013, for descriptions of the methodologies and assumptions we use to value
SOSAR awards and the manner in which we recognize the related expense pursuant to FASB ASC Topic 718.
(3) Amounts under “Non-Equity Incentive Plan Compensation” represent the amounts earned under the AIP for the relevant year, as
described under “Compensation Discussion and Analysis—Discussion of Executive Officer Compensation Decisions—Annual
Incentives—AIP Structure” and “—2012 AIP Payouts.”
(4) Amounts under “All Other Compensation” for 2012 include the following:
• Matching contributions we made on the executive officers’ behalf to the Chipotle Mexican Grill, Inc. 401(K) plan as well as
the Chipotle Mexican Grill, Inc. Supplemental Deferred Investment Plan, in the aggregate amounts of $161,311 for Mr. Ells,
$137,004 for Mr. Moran, $58,681 for Mr. Hartung, $37,037 for Mr. Blessing, and $27,780 for Mr. Crumpacker. See “Non-
Qualified Deferred Compensation for 2012” below for a description of the Chipotle Mexican Grill, Inc. Supplemental Deferred
Investment Plan.
• Company car costs, which include the depreciation expense recognized on company-owned cars or lease payments on leased
cars (in either case less employee payroll deductions), insurance premiums, and maintenance and fuel costs, or a monthly car
allowance for officers who elect under the standard terms of our company-wide company car program to receive an allowance
rather than a company car. Company car costs for Mr. Ells were $26,846, for Mr. Hartung were $28,329, for Mr. Blessing were
$25,737, and for each other officer were less than $25,000.
• Housing costs, including monthly rent and utilities payments, of $32,066 for Mr. Hartung, $30,000 for Mr. Blessing, and
$39,041 for Mr. Crumpacker.
• $24,070 for Mr. Ells, $10,593 for Mr. Hartung, $24,115 for Mr. Crumpacker, and less than $10,000 for each other executive
officer for reimbursement of taxes payable in connection with taxable perquisites under rules of the Internal Revenue Service.
• Commuting expenses, which include air fare, airport parking and ground transportation relating to travel between home and
our company headquarters, for Mr. Hartung totaling $36,162.
• Legal fees and related expenses of $2,500 or less for each of Mr. Moran, Mr. Hartung and Mr. Crumpacker.
(5) Mr. Blessing became Chief Development Officer in February 2010.
44
Proxy Statement