Chipotle 2013 Annual Report Download - page 133

NON-QUALIFIED DEFERRED COMPENSATION FOR 2013
The Chipotle Mexican Grill, Inc. Supplemental Deferred Investment Plan permits eligible management
employees who elect to participate in the plan, including our executive officers, to make contributions to deferral
accounts once the participant has maximized his or her contributions to our 401(k) plan. Contributions are made
on the participant’s behalf through payroll deductions from 1 percent to 50 percent of the participant’s monthly
base compensation, which are credited to the participant’s “Supplemental Account,” and from 1 percent to 100
percent of awards under the AIP, which are credited to the participant’s “Deferred Bonus Account.” We also
match contributions at the rate of 100 percent on the first 3 percent of compensation contributed and 50 percent
on the next 2 percent of compensation contributed. Amounts contributed to a participant’s deferral accounts are
not subject to federal income tax at the time of contribution. Amounts credited to a participant’s deferral accounts
fluctuate in value to track a variety of available investment choices selected by the participant (which may be
changed by the participant at any time), and are fully vested at all times following contribution.
Participants may elect to receive distribution of amounts credited to either or both of the participant’s
Supplemental Account or Deferred Bonus Account, in either (1) a lump sum amount paid from two to six years
following the end of the year in which the deferral is made, subject to a one-time opportunity to postpone such
lump sum distribution, or (2) a lump sum or installment distribution following termination of the participant’s
service with us, with installment payments made in accordance with the participant’s election on a monthly,
quarterly or annual basis over a period of up to 15 years following termination, subject to a one-time opportunity
to change such distribution election within certain limitations. Distributions in respect of one or both of a
participant’s deferral accounts are subject to federal income tax as ordinary income in the year the distribution is
made.
Amounts credited to participants’ deferral accounts are unsecured general obligations of ours to pay the
value of the accounts to the participants at times determined under the plan.
The table below presents contributions by each executive officer, and our matching contributions, to the
Supplemental Deferred Investment Plan during 2013, as well as each executive officer’s earnings under the plan
and ending balances in the plan on December 31, 2013.
Name
Executive
Contributions
in Last FY (1)
Registrant
Contributions
in Last FY (2)
Aggregate
Earnings/(Losses)
in Last FY (3)
Aggregate
Withdrawals/
Distributions
Aggregate
Balance
at Last FYE (4)
Steve Ells ..................... $177,493 $141,995 $ 47,028 $219,470 $1,182,023
Monty Moran .................. $346,167 $120,274 $210,692 — $2,074,010
Jack Hartung ................... $690,561 $ 55,245 $ 40,684 — $3,802,386
Bob Blessing ................... $156,949 $ 22,199 $ 82,167 — $ 785,534
Mark Crumpacker ............... $ 37,523 $ 18,281 $ 15,540 — $ 129,595
(1) These amounts are reported in the Summary Compensation Table as part of each executive’s “Salary” for
2013.
(2) These amounts are reported in the Summary Compensation Table as part of each executive’s “All Other
Compensation” for 2013.
(3) These amounts are not reported as compensation in the Summary Compensation Table because none of the
earnings are “above market” as defined in SEC rules.
(4) These amounts include amounts previously reported in the Summary Compensation Table as “Salary” or
“All Other Compensation” for years prior to 2013 (ignoring for purposes of this footnote any investment
losses on balances in the plan), in the following aggregate amounts: $1,189,912 for Mr. Ells, $1,413,021 for
Mr. Moran, $2,562,112 for Mr. Hartung, $443,132 for Mr. Blessing, and $56,139 for Mr. Crumpacker.
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Proxy Statement