Shake Shack Inc. — Director's Dealing 2015

Feb 17, 2015

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: Shake Shack Inc. (SHAK)
CIK: 0001620533
Period of Report: 2015-02-04

Reporting Person: McQuinn Michael C (10% Owner)
Reporting Person: RHF - NM 1999 DESCENDANTS TRUST (10% Owner)
Reporting Person: RHF - TM 1999 DESCENDANTS TRUST (10% Owner)

Holdings (Non-Derivative)

Security	Shares	Ownership
CLASS A COMMON STOCK	300	Indirect
CLASS A COMMON STOCK	300	Indirect
CLASS B COMMON STOCK	84884	Indirect
CLASS B COMMON STOCK	33954	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
COMMON MEMBERSHIP INTERESTS	$		CLASS A COMMON STOCK (84884)		Indirect
COMMON MEMBERSHIP INTERESTS	$		CLASS A COMMON STOCK (33954)		Indirect

Footnotes

F1: Represents shares of Class A common stock, par value $0.001 per share (the "Class A Common Stock"), purchased by the RHF - NM 1999 Descendants Trust (the "NM Trust") under Shake Shack Inc.'s (the "Issuer") Directed Share Program.

F2: Held directly by the NM Trust, of which Michael C. McQuinn is a trustee and Jack R. Polsky is a co-trustee. The shares and LLC Interests reported herein are also reported on a Form 3 filed by Jack R. Polsky. Michael C. McQuinn disclaims beneficial ownership over such shares and LLC Interests, as applicable, except to the extent of his pecuniary interest therein.

F3: Represents shares of Class A Common Stock purchased by the RHF - TM 1999 Descendants Trust (the "TM Trust") under the Issuer's Directed Share Program.

F4: Held directly by the TM Trust, of which Michael C. McQuinn is a trustee and Jack R. Polsky is a co-trustee. The shares and LLC Interests reported herein are also reported on a Form 3 filed by Jack R. Polsky. Michael C. McQuinn disclaims beneficial ownership over such shares and LLC Interests, as applicable, except to the extent of his pecuniary interest therein.

F5: Acquired pursuant to a subscription agreement entered into with the Issuer in connection with the closing of the Issuer's initial public offering on February 4, 2015 (the "IPO"). One share of the Issuer's Class B common stock, par value $0.001 per share (the "Class B Common Stock"), was issued for each common membership interest in SSE Holdings, LLC (each an "LLC Interest") received pursuant to a reclassification of SSE Holdings, LLC that occurred in connection with the closing of the IPO. Pursuant to the Amended and Restated Certificate of Incorporation of the Issuer filed in connection with the IPO, the shares of Class B Common Stock (i) confer no incidents of economic ownership on the holders thereof, (ii) only confer voting rights on the holders thereof and (iii) may only be issued, on a one-for-one basis, to the permitted holders of LLC Interests.

F6: Represents LLC Interests which are redeemable for an equal number of shares of the Issuer's Class A Common Stock or, at the election of the Issuer, cash equal to the volume-weighted average market price of such shares. The LLC Interests have no expiration date.

F7: Issued pursuant to a reclassification of SSE Holdings, LLC that occurred in connection with the closing of the IPO. The units in SSE Holdings, LLC held by the NM Trust or TM Trust, as applicable, prior to the reclassification were cancelled as part of the reclassification. The reclassification is further described in the Third Amended and Restated Limited Liability Company Agreement of SSE Holdings, LLC, which was filed with the Securities and Exchange Commission on January 20, 2015 as Exhibit 10.3 to Amendment No. 1 of the Issuer's Registration Statement on Form S-1.