Shake Shack Inc. — Director's Dealing 2020

Nov 18, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Shake Shack Inc. (SHAK)
CIK: 0001620533
Period of Report: 2020-11-16

Reporting Person: GARUTTI RANDALL J (Director, Chief Executive Officer, 10% Owner)
Reporting Person: GARUTTI MARIA L (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-11-16	CLASS A COMMON STOCK	M	67407	$21	Acquired	119298	Direct
2020-11-16	CLASS A COMMON STOCK	S	24132	$78.7368	Disposed	95166	Direct
2020-11-16	CLASS A COMMON STOCK	S	36767	$79.3841	Disposed	58399	Direct
2020-11-16	CLASS A COMMON STOCK	S	3408	$80.086	Disposed	54991	Direct
2020-11-16	CLASS A COMMON STOCK	S	3100	$81.10	Disposed	51891	Direct
2020-11-18	CLASS A COMMON STOCK	M	7593	$21	Acquired	59484	Direct
2020-11-18	CLASS A COMMON STOCK	S	7593	$80.2421	Disposed	51891	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-11-16	Stock Option (Right to Buy)	$21.0	M	67407	Disposed	2025-01-29	CLASS A COMMON STOCK (67407.0)	Direct
2020-11-18	Stock Option (Right to Buy)	$21.0	M	7593	Disposed	2025-01-29	CLASS A COMMON STOCK (7593.0)	Direct

Footnotes

F1: The transactions reported on this Form 4 were all effected pursuant to a 10b5-1 trading plan entered into on September 16, 2020.

F2: The transaction was executed in multiple trades at prices ranging from $78.02 to $79.0199. The price reported above reflects the weighted average sales price.

F3: 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.

F4: The transaction was executed in multiple trades at prices ranging from $79.02 to $80.0199. The price reported above reflects the weighted average sales price.

F5: The transaction was executed in multiple trades at prices ranging from $80.02 to $81.0199. The price reported above reflects the weighted average sales price.

F6: The transaction was executed in multiple trades at prices ranging from $81.02 to $81.10. The price reported above reflects the weighted average sales price.

F7: The transaction was executed in multiple trades at prices ranging from $80.00 to $80.57. The price reported above reflects the weighted average sales price.

F8: An option to purchase 685,000 shares of Class A common stock at $21 per share was granted to Mr. Garutti on January 29, 2015. 137,000 options vested on each of January 29, 2016, January 29, 2017, January 29, 2018, January 29, 2019 and January 29, 2020.