Chipotle 2008 Annual Report Download - page 98

OUTSTANDING EQUITY AWARDS AT DECEMBER 31, 2008
Option Awards(1) Stock Awards(2)
Name
Number of
Securities
Underlying
Unexercised
Options
Exercisable
Number of
Securities
Underlying
Unexercised
Options
Unexercisable
Option Exercise
Price
Option Expiration
Date
Equity Incentive
Plan Awards:
Number of
Unearned Shares,
Units or Rights That
Have Not
Vested
Equity Incentive
Plan Awards:
Market or Payout
Value of Unearned
Shares, Units or
Other Rights That
Have Not
Vested
Steve Ells ........ — 150,000(3) $ 22.00 1/25/2013 55,000(4) $3,408,900(5)
— 80,000(6) $ 63.89 2/20/2014 41,600(7) $2,578,368(5)
— 90,500(8) $102.65 2/20/2015
Monty Moran ..... — 80,000(3) $ 22.00 1/25/2013 30,000(4) $1,859,400(5)
— 40,000(6) $ 63.89 2/20/2014 30,400(7) $1,884,192(5)
— 66,000(8) $102.65 2/20/2015
Jack Hartung ...... — 48,000(3) $ 22.00 1/25/2013 20,000(4) $1,239,600(5)
— 25,000(6) $ 63.89 2/20/2014 15,000(7) $ 929,700(5)
— 31,700(8) $102.65 2/20/2015
Bob Wilner ....... — 40,000(3) $ 22.00 1/25/2013 15,000(4) $ 929,700(5)
— 20,000(6) $ 63.89 2/20/2014 7,500(7) $ 464,850(5)
— 15,000(8) $102.65 2/20/2015
Bob Blessing ...... — 20,000(3) $ 22.00 1/25/2013 5,500(7) $ 340,890(5)
— 10,000(6) $ 63.89 2/20/2014
— 14,000(8) $102.65 2/20/2015
Rex Jones ........ 5,333 — $ 22.35 7/14/2010 5,500(7) $ 340,890(5)
— 15,000(3) $ 22.00 1/25/2013
— 8,500(6) $ 63.89 2/20/2014
— 12,000(8) $102.65 2/20/2015
(1) Compensation expense related to each award in these columns is included in the Option Awards column of
the Summary Compensation Table, as described in more detail in the footnotes to that table.
(2) Compensation expense related to each award in these columns is included in the Stock Awards column of
the Summary Compensation Table, as described in more detail in the footnotes to that table.
(3) Options vested in full on January 25, 2009.
(4) Represents performance-contingent restricted shares of Class A common stock awarded on May 21, 2008.
The awards vest upon satisfaction of performance criteria, provided that half of each award will not vest
prior to April 1, 2009 and the remaining half will not vest prior to February 20, 2010, in all cases subject to
potential accelerated vesting as described below under “Potential Payments Upon Termination or Change in
Control—Equity Award Vesting Upon Change-in-Control—Performance-Contingent Restricted Stock.” The
awards expire on May 31, 2012 if they have not vested prior to that date.
(5) Based on the closing stock price of our Class A common stock on December 31, 2008 of $61.98 per share.
(6) Options vest in full on February 20, 2010, subject to potential accelerated vesting as described in the
footnotes to the table below under “Potential Payments Upon Termination or Change-in-Control—Equity
Award Vesting Upon Termination.”
(7) Represents an award of performance shares of Class A common stock approved on February 20, 2008,
subject to shareholder approval of our Amended and Restated 2006 Stock Incentive Plan. Approval was
obtained on May 21, 2008. The awards vest on the later of February 20, 2010 or satisfaction of performance
criteria, subject to potential accelerated vesting as described below under “Potential Payments Upon
Termination or Change-in-Control—Equity Award Vesting Upon Change-in-Control—Performance
Shares,” and expire on March 1, 2012 if they have not vested prior to that date.
(8) SOSARs vest in full on February 20, 2011, subject to potential accelerated vesting as described in the
footnotes to the table below under “Potential Payments Upon Termination or Change-in-Control—Equity
Award Vesting Upon Termination.”
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Proxy Statement