Did the Chipotle Mexican Grill CEO Get a Raise?
No — pay was essentially flat. Scott Boatwright's total compensation was essentially unchanged at $8.0M in 2025, from $8.0M in 2024, per Chipotle Mexican Grill's SEC DEF 14A filings.
This page answers a common executive-compensation question: Did the Chipotle Mexican Grill CEO Get a Raise?. The answer draws on SEC DEF 14A proxy statements, the public disclosure mechanism for U.S. public-company executive pay. Every public company must file an annual proxy statement disclosing CEO and named-executive-officer compensation in detail. Why this matters for shareholders: executive compensation is the single most-disclosed governance metric at U.S. public companies, and the Dodd-Frank-mandated say-on-pay vote gives shareholders an explicit channel to express approval or dissent. Reading pay data well — including pay-versus-performance, peer-group selection, and time-vesting structures — is a basic part of stock-by-stock fundamental analysis.
The detailed answer below uses the actual proxy-statement filings, explains how to read them, and translates the executive-compensation accounting into the shareholder-relevant interpretation.
Scott Boatwright Pay: 2024 → 2025
- 2025 total comp
- $8,000,000
- 2024 total comp
- $8,000,000
- Change ($)
- +$0
- Change (%)
- +0%
Source: Chipotle Mexican Grill SEC DEF 14A proxy statements, 2024 and 2025 Summary Compensation Tables.
In its latest proxy statement, Chipotle Mexican Grill reported Scott Boatwright's 2025 total compensation at $8,000,000 — essentially flat versus $8,000,000 in 2024.
Across the disclosed history, Scott Boatwright's total pay has run: 2022, $8.0M; 2023, $8.0M; 2024, $8.0M; 2025, $8.0M. CEO compensation is lumpy year to year because equity grants — the largest component — are often awarded in multi-year blocks rather than evenly, so a single year's jump or drop can reflect grant timing as much as a change in pay philosophy.
Whether a raise is warranted ties back to performance: Chipotle Mexican Grill posted a 20.2% three-year total shareholder return on 9.9% revenue growth, and the package carries a CEOPay Pay-for-Performance grade of B (67/100).
Compensation Detail
| Component | Amount |
|---|---|
| Total Compensation | $8,000,000 |
| Base Salary | $800,000 |
| Stock Awards | $4,000,000 |
| Option Awards | $960,000 |
| Non-Equity Incentive | $1,200,000 |
| CEO-to-Worker Pay Ratio | 286:1 |
| Pay-Performance Grade | B |
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Frequently Asked Questions
No — pay was essentially flat. Scott Boatwright's total compensation was essentially unchanged at $8.0M in 2025, from $8.0M in 2024, per Chipotle Mexican Grill's SEC DEF 14A filings.
Scott Boatwright, CEO of Chipotle Mexican Grill, earned $8.0M in total compensation in 2025, including $4.0M in stock awards and $800,000 in base salary.
In 2025, total compensation of $8,000,000 was composed of $800,000 base salary, $0 cash bonus, $4,000,000 stock awards, $960,000 option awards, and $1,200,000 in non-equity incentive compensation.
Our Pay-for-Performance Score rates Chipotle Mexican Grill as B (67/100), based on three-year total shareholder return of 20.2%, revenue growth of 9.9%, and shareholder say-on-pay vote approval.
Scott Boatwright is the chief executive officer of Chipotle Mexican Grill (CMG).
More about Chipotle Mexican Grill
No — pay was essentially flat. Scott Boatwright's total compensation was essentially unchanged at $8.0M in 2025, from $8.0M in 2024, per Chipotle Mexican Grill's SEC DEF 14A filings.
Source: SEC EDGAR DEF 14A proxy statements, 2026.