Shake Shack Inc. — Director's Dealing 2019

Aug 10, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Shake Shack Inc. (SHAK)
CIK: 0001620533
Period of Report: 2019-08-07

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-08-07	CLASS A COMMON STOCK	S	200	$86.15	Disposed	49800	Indirect
2019-08-07	CLASS A COMMON STOCK	S	800	$87.70	Disposed	49000	Indirect
2019-08-08	CLASS A COMMON STOCK	S	900	$85.98	Disposed	48100	Indirect
2019-08-08	CLASS A COMMON STOCK	S	1100	$87.16	Disposed	47000	Indirect
2019-08-08	CLASS A COMMON STOCK	S	11632	$88.56	Disposed	35368	Indirect
2019-08-08	CLASS A COMMON STOCK	S	5868	$89.40	Disposed	29500	Indirect
2019-08-08	CLASS A COMMON STOCK	S	500	$89.96	Disposed	29000	Indirect
2019-08-09	CLASS A COMMON STOCK	S	17587	$89.02	Disposed	11413	Indirect
2019-08-09	CLASS A COMMON STOCK	S	2400	$90.20	Disposed	9013	Indirect

Footnotes

F1: The transaction was executed in multiple trades at prices ranging from $86.10 to $86.20. The price reported above reflects the weighted average sales price.

F2: Each Reporting Person hereby undertakes to provide upon request to the SEC staff, 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 Stock of the Issuer held by 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 shares except to the extent of such Reporting Person's pecuniary interest therein.

F4: The transaction was executed in multiple trades at prices ranging from $87.42 to $87.93. The price reported above reflects the weighted average sales price.

F5: The transaction was executed in multiple trades at prices ranging from $85.63 to $86.50. The price reported above reflects the weighted average sales price.

F6: The transaction was executed in multiple trades at prices ranging from $86.67 to $87.39. The price reported above reflects the weighted average sales price.

F7: The transaction was executed in multiple trades at prices ranging from $87.92 to $88.91. The price reported above reflects the weighted average sales price.

F8: The transaction was executed in multiple trades at prices ranging from $88.92 to $89.91. The price reported above reflects the weighted average sales price.

F9: The transaction was executed in multiple trades at prices ranging from $89.93 to $89.99. The price reported above reflects the weighted average sales price.

F10: The transaction was executed in multiple trades at prices ranging from $88.75 to 89.74. The price reported above reflects the weighted average sales price.

F11: The transaction was executed in multiple trades at prices ranging from $90.06 to 90.52. The price reported above reflects the weighted average sales price.