Zach Koff - 02 Feb 2023 Form 4 Insider Report for Shake Shack Inc. (SHAK)

Role: Chief Operating Officer
Signature: /s/ Ronald Palmese Jr., Esq., Attorney-in-Fact for Zachary Koff
Issuer symbol: SHAK
Transactions as of: 02 Feb 2023
Net transactions value: -$195,000
Form type: 4
Filing time: 06 Feb 2023, 17:23:09 UTC
Previous filing: 01 Nov 2022
Next filing: 03 Mar 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SHAK	CLASS A COMMON STOCK	Options Exercise	$105,000	+5,000	+16%	$21.00	36,085	02 Feb 2023	Direct	F1
transaction	SHAK	CLASS A COMMON STOCK	Sale	$300,000	-5,000	-14%	$60.00	31,085	02 Feb 2023	Direct	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	SHAK	Stock Option (Right to Buy)	Options Exercise	$0	-5,000	-33%	$0.000000	10,100	02 Feb 2023	CLASS A COMMON STOCK	5,000	$21.00	Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The transactions reported on this Form 4 were all effected pursuant to a 10b5-1 trading plan entered into on June 2, 2022.
F2	Mr. Koff 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 price at which the transaction was effected.
F3	An option to purchase 106,000 shares of Class A Stock at $21 per share was granted to Mr. Koff on January 29, 2015. 21,200 options vested on each of January 29, 2016, January 29, 2017, January 29, 2018, January 29, 2019, and January 29, 2020.