SEC Form 4 · accession 0001209191-16-140633
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
Sep 6, 2016
Accepted (ET)
Sep 8, 2016 · 6:21 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 StockF1,F2,F3,F4 | Sep 6, 2016 | S | 42,661 | $35.47 | D | 2,416,321 | I | See footnote |
| Class A Common StockF5,F6,F7,F4 | Sep 6, 2016 | S | 7,339 | $36.20 | D | 2,408,982 | I | See footnote |
| Class A Common StockF8,F9,F10,F4 | Sep 7, 2016 | S | 39,262 | $36.35 | D | 2,369,720 | I | See footnote |
| Class A Common StockF11,F12,F13,F4 | Sep 7, 2016 | S | 10,738 | $36.87 | D | 2,358,982 | I | See footnote |
| Class A Common StockF14,F15,F16,F4 | Sep 8, 2016 | S | 50,000 | $36.21 | D | 2,308,982 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (right to buy)F18,F17 | $34.62 | holding | — | — | — | May 19, 2017 | May 19, 2026 | Class A Common Stock | 2,003 | 10,254 | D |
| Employee Stock Option (right to buy)F18,F19 | $21.00 | holding | — | — | — | Jan 29, 2016 | Jan 29, 2025 | Class A Common Stock | 8,251 | 10,254 | D |
| Class B Common StockF22,F23,F20,F21 | — | holding | — | — | — | — | — | Class A Common Stock | — | 2,985,902 | I |
Explanation of responses
- F1Represents shares of Class A common stock, par value $0.001 per share ("A-Common") sold by Green Equity Investors VI, L.P. ("GEI VI"), Green Equity Investors Side VI, L.P. ("GEI Side VI"), and LGP Malted Coinvest LLC ("Malted"). Of the shares of A-Common sold, 25,561 were sold by GEI VI, 15,234 were sold by GEI Side VI, and 1,866 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."
- F10Represents shares owned by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common reported, 430,926 are owned by GEI VI, 1,912,511 are owned by GEI Side VI, and 26,283 are owned by Malted.
- F11Represents shares of A-Common sold by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common sold, 6,434 were sold by GEI VI, 3,834 were sold by GEI Side VI, and 470 were sold by Malted.
- F12This transaction was executed in multiple trades at prices ranging from $36.75 to $37.08. The price reported above reflects the weighted average sale price. Mr. Sokoloff 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 trades were effected.
- F13Represents shares owned by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common reported, 424,492 are owned by GEI VI, 1,908,677 are owned by GEI Side VI, and 25,813 are owned by Malted.
- F14Represents shares of A-Common sold by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common sold, 29,959 were sold by GEI VI, 17,855 were sold by GEI Side VI, and 2,186 were sold by Malted.
- F15This transaction was executed in multiple trades at prices ranging from $35.77 to $36.57. The price reported above reflects the weighted average sale price. Mr. Sokoloff 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 trades were effected.
- F16Represents shares owned by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common reported, 394,533 are owned by GEI VI, 1,890,822 are owned by GEI Side VI, and 23,627 are owned by Malted.
- F17These options will vest on May 19, 2017.
- F18The 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. Of the 10,254 options reported, 8,251 vested on January 29, 2016 and 2,003 will vest on May 19, 2017.
- F19These options vested on January 29, 2016.
- F2This transaction was executed in multiple trades at prices ranging from $35.03 to $35.94. The price reported above reflects the weighted average sale price. Mr. Sokoloff 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 trades were effected.
- F20Pursuant to the terms of the Amended and Restated Certificate of Incorporation of the Issuer, shares of B-Common can be paired with LLC Interests on a one-to-one basis and tendered to the Issuer in exchange for shares of A-Common (or cash, at the Issuer's election).
- F21Not applicable.
- F22Represents shares of B-Common owned by GEI VI and Malted. Of the shares of B-Common reported on this row, 2,777,968 are owned by GEI VI and 207,934 are owned by Malted.
- F23Mr. 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.
- F3Represents shares owned by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common reported, 458,848 are owned by GEI VI, 1,929,153 are owned by GEI Side VI, and 28,320 are owned by Malted.
- F4Mr. 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, GEI Side VI, and Malted. Mr. Sokoloff disclaims beneficial ownership of the shares owned 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.
- F5Represents shares of A-Common sold by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common sold, 4,398 were sold by GEI VI, 2,621 were sold by GEI Side VI, and 320 were sold by Malted.
- F6This transaction was executed in multiple trades at prices ranging from $36.03 to $36.34. The price reported above reflects the weighted average sale price. Mr. Sokoloff 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 trades were effected.
- F7Represents shares owned by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common reported, 454,450 are owned by GEI VI, 1,926,532 are owned by GEI Side VI, and 28,000 are owned by Malted.
- F8Represents shares of A-Common sold by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common sold, 23,524 were sold by GEI VI, 14,021 were sold by GEI Side VI, and 1,717 were sold by Malted.
- F9This transaction was executed in multiple trades at prices ranging from $35.75 to $36.75. The price reported above reflects the weighted average sale price. Mr. Sokoloff 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 trades were effected.
Remarks
Exhibit List: Exhibit 24.1 - Power of Attorney