SEC Form 4 · accession 0001209191-15-066348

Shake Shack Inc. · SHAK

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Jonathan D Sokoloff

Director · 10% Owner

Period of report

Aug 13, 2015

Accepted (ET)

Aug 17, 2015 · 5:40 pm EDT

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001620533

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Class A Common Stock^F1	Aug 14, 2015	G	20,000	$0.00	D	0	D
Class A Common Stock^F2,F3	Aug 13, 2015	C	778,503	$0.00	A	4,198,828	I	See footnote
Class A Common Stock^F4,F5,F3	Aug 13, 2015	S	1,239,663	$57.75	D	2,959,165	I	See footnote

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Class B Common Stock^{F9,F10,F11,F12,F8}	—	Aug 13, 2015	C	778,503	D	—	—	Class A Common Stock	778,503	4,995,494	I
Employee Stock Option (right to buy)^F7,F6	$21.00	holding	—	—	—	Jan 29, 2016	Jan 29, 2025	Class A Common Stock	8,251	8,251	D

Explanation of responses

F1Represents shares of Class A common stock, par value $0.001 per share ("A-Common") of the Issuer gifted by Jonathan D. Sokoloff to a trust, the beneficiaries of which are members of Mr. Sokoloff's family.
F10Not applicable.
F11Represents shares of B-Common owned by GEI VI and Malted following the Offering. Of the shares of B-Common reported on this row, 4,647,613 are owned by GEI VI and 347,881 are owned by Malted. These shares are subject to a lock-up agreement and cannot be sold without underwriter consent until 90 days after the date of the prospectus relating to the Offering.
F12Mr. Sokoloff directly (whether through ownership or position) or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of the Equity Interests. Mr. Sokoloff disclaims beneficial ownership of the Equity Interests held by each of GEI VI, GEI Side VI, and Malted except to the extent of his pecuniary interest in GEI VI and GEI Side VI, and this report shall not otherwise be deemed an admission that he is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
F2Represents shares of A-Common issued to, and substantially simultaneously sold by, Green Equity Investors VI, L.P. ("GEI VI") and LGP Malted Coinvest LLC ("Malted") in connection with the closing of an underwritten secondary offering (the "Offering"). The shares were issued in exchange for an equivalent number of shares of Class B common stock, par value $0.001 per share ("B-Common") of the Issuer and limited liability company interests (the "LLC Interests") of SSE Holdings, LLC, pursuant to the exchange right described in note 8 to this Form 4. Of the newly-issued shares of A-Common reported in this row, 724,289 were issued to GEI VI and 54,214 were issued to Malted.
F3Mr. Sokoloff directly (whether through ownership or position) or indirectly through one or more intermediaries, may be deemed for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, to be the indirect beneficial owner of the shares owned by GEI VI, Green Equity Investors Side VI, L.P. ("GEI Side VI"), and Malted. Mr. Sokoloff disclaims beneficial ownership of the shares held by each of GEI VI, GEI Side VI, and Malted except to the extent of his pecuniary interest in GEI VI and GEI Side VI and this report shall not otherwise be deemed an admission that he is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
F4Represents shares of A-Common sold by GEI VI, GEI Side VI, and Malted in connection with the Offering. Of the shares of A-Common sold, 742,762 were sold by GEI VI, 442,687 were sold by GEI Side VI, and 54,214 were sold by Malted. GEI VI's, GEI Side VI's, and Malted's A-Common, together with GEI VI's and Malted's B-Common and LLC Interests, are collectively referred to herein as the "Equity Interests."
F5Represents shares owned by GEI VI and GEI Side VI following the Offering. Of the 2,959,165 shares of A-Common reported, 118,538 are owned by GEI VI and 2,840,627 are owned by GEI Side VI. These shares are subject to a lock-up agreement and cannot be sold without underwriter consent until 90 days after the date of the prospectus relating to the Offering.
F6These options will vest on January 29, 2016.
F7The options reported on this row were granted in respect of Mr. Sokoloff's service on the Issuer's board of directors and are held by Mr. Sokoloff for the benefit of Leonard Green & Partners, L.P.
F8Shares of B-Common can be paired with LLC Interests on a one-to-one basis and delivered to the Issuer in exchange for shares of A-Common (or cash, at the Issuer's election); provided, that Equity Interests other than those exchanged or sold as disclosed herein are subject to a lock-up agreement and cannot be sold or transferred without underwriter consent until 90 days after the date of the prospectus relating to the Offering.
F9Represents shares paired with LLC Interests on a one-to-one basis by GEI VI and Malted and exchanged for shares of A-Common in connection with the Offering. Of the shares of reported in this row, 724,289 were issued to GEI VI and 54,214 were issued to Malted, respectively.