Shake Shack Inc. — Director's Dealing 2018

Sep 12, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Shake Shack Inc. (SHAK)
CIK: 0001620533
Period of Report: 2018-09-07

Reporting Person: Flug Jeffrey (Director, 10% Owner)
Reporting Person: Flug 2015 GS Trust U/A/D 12/29/15 (10% Owner)
Reporting Person: Gulf Five Fiduciary Management Corp (10% Owner)
Reporting Person: FLUG SHERYL H (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-09-07	CLASS A COMMON STOCK	S	17741	$58.3522	Disposed	7259	Indirect
2018-09-07	CLASS A COMMON STOCK	S	200	$59.03	Disposed	7059	Indirect
2018-09-10	CLASS A COMMON STOCK	S	7059	$58.5536	Disposed	0	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
CLASS A COMMON STOCK	4415	Direct

Footnotes

F1: The transaction was executed in multiple trades at prices ranging from $58.0000 to $58.9700. The price reported above reflects the weighted average sales price.

F2: Each Reporting Person hereby undertakes to provide upon request to the SEC staff, Shake Shack Inc. (the "Issuer") or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.

F3: Represents shares of Class A Common Stock ("Class A Stock") of the Issuer held by the Flug 2015 GS Trust U/A/D 12/29/15 (the "Trust"). Gulf Five Fiduciary Management Corp is the trustee of the Trust. Sheryl Flug, the wife of Jeffrey Flug, is the President of Gulf Five Fiduciary Management Corp. Each Reporting Person disclaims beneficial ownership of such securities except to the extent of such Reporting Person's pecuniary interest therein.

F4: The transaction was executed in multiple trades at prices ranging from $58.2500 to $59.1300. The price reported above reflects the weighted average sales price.