SEC Form 4
| FORM 4 | UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
| |||||||||||||||
| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
| 2. Issuer Name and Ticker or Trading Symbol Shake Shack Inc. [ SHAK ] | 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
| ||||||||||||||||||||||||
| 3. Date of Earliest Transaction (Month/Day/Year) 04/08/2019 | ||||||||||||||||||||||||||
| 4. If Amendment, Date of Original Filed (Month/Day/Year) | 6. Individual or Joint/Group Filing (Check Applicable Line)
| |||||||||||||||||||||||||
| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
| Code | V | Amount | (A) or (D) | Price | ||||||
| Class A Common Stock | 04/08/2019 | S(1) | 77,030(2) | D | $58.85(3) | 1,222,212(4) | I | See footnote(5) | ||
| Class A Common Stock | 04/08/2019 | S(1) | 9,182(6) | D | $59.49(7) | 1,213,030(8) | I | See footnote(5) | ||
| Class A Common Stock | 04/09/2019 | S(1) | 60,286(9) | D | $58.1(10) | 1,152,744(11) | I | See footnote(5) | ||
| Class A Common Stock | 04/09/2019 | S(1) | 14,090(12) | D | $58.66(13) | 1,138,654(14) | I | See footnote(5) | ||
| Class A Common Stock | 04/10/2019 | S(1) | 74,578(15) | D | $57.86(16) | 1,064,076(17) | I | See footnote(5) | ||
| Class A Common Stock | 04/10/2019 | S(1) | 14,834(18) | D | $58.44(19) | 1,049,242(20) | I | See footnote(5) | ||
| Class A Common Stock | 1,032(21) | D | ||||||||
| Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Employee Stock Option (right to buy) | $34.62 | 05/19/2017(22) | 05/19/2026 | Class A Common Stock | 2,003 | 10,254(23) | D | ||||||||
| Employee Stock Option (right to buy) | $21 | 01/29/2016(22) | 01/29/2025 | Class A Common Stock | 8,251 | 10,254(23) | D | ||||||||
| Class B Common Stock | (24) | (24) | (25) | Class A Common Stock | (24) | 931,263(26) | I | See footnote(27) | |||||||
| Explanation of Responses: |
| 1. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted 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"). |
| 2. Represents shares of Class A common stock, par value $0.001 per share ("A-Common") sold by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common sold, 46,155 were sold by GEI VI, 27,507 were sold by GEI Side VI, and 3,368 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." |
| 3. This transaction was executed in multiple trades at prices ranging from $58.26 to $59.25. The price reported 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. |
| 4. Represents shares owned by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common reported, 422,364 are owned by GEI VI, 769,017 are owned by GEI Side VI, and 30,831 are owned by Malted. |
| 5. Mr. 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. |
| 6. Represents shares of A-Common sold by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common sold, 5,502 were sold by GEI VI, 3,278 were sold by GEI Side VI, and 402 were sold by Malted. |
| 7. This transaction was executed in multiple trades at prices ranging from $59.26 to $59.98. The price reported 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. |
| 8. Represents shares owned by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common reported, 416,862 are owned by GEI VI, 765,739 are owned by GEI Side VI, and 30,429 are owned by Malted. |
| 9. Represents shares of A-Common sold by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common sold, 36,122 were sold by GEI VI, 21,528 were sold by GEI Side VI, and 2,636 were sold by Malted. |
| 10. This transaction was executed in multiple trades at prices ranging from $57.57 to $58.56. The price reported 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. |
| 11. Represents shares owned by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common reported, 380,740 are owned by GEI VI, 744,211 are owned by GEI Side VI, and 27,793 are owned by Malted. |
| 12. Represents shares of A-Common sold by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common sold, 8,442 were sold by GEI VI, 5,031 were sold by GEI Side VI, and 617 were sold by Malted. |
| 13. This transaction was executed in multiple trades at prices ranging from $58.57 to $58.89. The price reported 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. |
| 14. Represents shares owned by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common reported, 372,298 are owned by GEI VI, 739,180 are owned by GEI Side VI, and 27,176 are owned by Malted. |
| 15. Represents shares of A-Common sold by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common sold, 44,685 were sold by GEI VI, 26,633 were sold by GEI Side VI, and 3,260 were sold by Malted. |
| 16. This transaction was executed in multiple trades at prices ranging from $57.29 to $58.28. The price reported 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. |
| 17. Represents shares owned by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common reported, 327,613 are owned by GEI VI, 712,547 are owned by GEI Side VI, and 23,916 are owned by Malted. |
| 18. Represents shares of A-Common sold by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common sold, 8,888 were sold by GEI VI, 5,296 were sold by GEI Side VI, and 650 were sold by Malted. |
| 19. This transaction was executed in multiple trades at prices ranging from $58.29 to $58.60. The price reported 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. |
| 20. Represents shares owned by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common reported, 318,725 are owned by GEI VI, 707,251 are owned by GEI Side VI, and 23,266 are owned by Malted. |
| 21. Represents shares of A-Common of the Issuer underlying restricted stock units awarded to the reporting person pursuant to the Issuer's 2015 Incentive Award Plan, as amended, and the Issuer's Non-Employee Director Compensation Policy on June 12, 2018 and June 12, 2017. The restricted stock units represent the right to receive shares of A-Common, subject to the reporting person's continued service with the Issuer. Of the 1,032 shares of A-Common reported, 642 are fully vested and 390 will vest on June 12, 2019. |
| 22. These options are fully vested. |
| 23. The 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. These options are fully vested. |
| 24. Pursuant 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). |
| 25. Not applicable. |
| 26. Represents shares of B-Common owned by GEI VI and Malted. Of the shares of B-Common reported on this row, 867,916 are owned by GEI VI and 63,347 are owned by Malted. |
| 27. Mr. 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. |
| Remarks: |
| Andrew C. Goldberg | 04/10/2019 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||