SHAK

SEC source: 0001620533-20-000012 · wf-form4_158327965525631.xml · nonDerivative · entry 3

Comonte Tara · CIK 0001708832 · PRESIDENT & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 56,441

F3 · shares: Represents shares of Class A Stock of the Issuer underlying restricted stock units acquired by the Reporting Person upon the Issuer's achievement of certain performance targets for certain performance criteria for fiscal year 2019, as determined by the Issuer's Compensation Committee on February 28, 2020. On March 1, 2019, pursuant to the Issuer's 2015 Incentive Award Plan, as amended, the Reporting Person was awarded performance stock units that issue into restricted stock units representing the right to receive Class A Stock of the Issuer. The restricted stock units representing the right to receive Class A Stock of the Issuer vest in 4 equal installments on each of March 1, 2020, March 1, 2021, March 1, 2022 and March 1, 2023.

F3 · price: Represents shares of Class A Stock of the Issuer underlying restricted stock units acquired by the Reporting Person upon the Issuer's achievement of certain performance targets for certain performance criteria for fiscal year 2019, as determined by the Issuer's Compensation Committee on February 28, 2020. On March 1, 2019, pursuant to the Issuer's 2015 Incentive Award Plan, as amended, the Reporting Person was awarded performance stock units that issue into restricted stock units representing the right to receive Class A Stock of the Issuer. The restricted stock units representing the right to receive Class A Stock of the Issuer vest in 4 equal installments on each of March 1, 2020, March 1, 2021, March 1, 2022 and March 1, 2023.

SEC source: 0001620533-20-000012 · wf-form4_158327965525631.xml · nonDerivative · entry 2

Comonte Tara · CIK 0001708832 · PRESIDENT & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 56,186

F2 · shares: Represents shares of Class A Stock of the Issuer withheld for taxes upon the vesting of restricted stock units that were previously acquired by the Reporting Person on March 1, 2019 pursuant to the Issuer's 2015 Incentive Award Plan, as amended.

SEC source: 0001620533-20-000012 · wf-form4_158327965525631.xml · nonDerivative · entry 1

Comonte Tara · CIK 0001708832 · PRESIDENT & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 57,151

F1 · shares: Represents shares of Class A Common Stock of Shake Shack Inc. (the "Issuer") withheld for taxes upon the vesting of restricted stock units that were previously acquired by the Reporting Person upon the Issuer's achievement of certain performance criteria for fiscal year 2019, as determined by the Issuer's Compensation Committee on February 28, 2020.

SEC source: 0001620533-20-000014 · wf-form4a_158344516779029.xml · nonDerivative · entry 3

Koff Zach · CIK 0001693743 · Chief Operating Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 15,312

F3 · shares: Represents shares of Class A Stock of the Issuer withheld for taxes upon the vesting of restricted stock units that were previously acquired by the Reporting Person on March 1, 2019 pursuant to the Issuer's 2015 Incentive Award Plan, as amended.

SEC source: 0001620533-20-000014 · wf-form4a_158344516779029.xml · nonDerivative · entry 2

Koff Zach · CIK 0001693743 · Chief Operating Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 15,635

F2 · shares: Represents shares of Class A Stock of the Issuer withheld for taxes upon the vesting of restricted stock units that were previously acquired by the Reporting Person pursuant to the Issuer's 2015 Incentive Award Plan, as amended, upon the Issuer's achievement of certain performance criteria for fiscal year 2019, as determined by the Issuer's Compensation Committee on February 28, 2020.

SEC source: 0001620533-20-000014 · wf-form4a_158344516779029.xml · nonDerivative · entry 1

Koff Zach · CIK 0001693743 · Chief Operating Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 16,002

F1 · shares: Represents shares of Class A Common Stock ("Class A Stock") of Shake Shack Inc. (the "Issuer") underlying restricted stock units acquired by the Reporting Person upon the Issuer's achievement of certain performance targets for certain performance criteria for fiscal year 2019, as determined by the Issuer's Compensation Committee on February 28, 2020. On March 1, 2019, pursuant to the Issuer's 2015 Incentive Award Plan, as amended, the Reporting Person was awarded performance stock units that issue into restricted stock units representing the right to receive Class A Stock of the Issuer. The restricted stock units representing the right to receive Class A Stock of the Issuer vest in 4 equal installments on each of March 1, 2020, March 1, 2021, March 1, 2022 and March 1, 2023. This amendment is made to correct the number of shares of Class A Stock reported on the Form 4 filed on March 3, 2020 in this transaction.

F1 · price: Represents shares of Class A Common Stock ("Class A Stock") of Shake Shack Inc. (the "Issuer") underlying restricted stock units acquired by the Reporting Person upon the Issuer's achievement of certain performance targets for certain performance criteria for fiscal year 2019, as determined by the Issuer's Compensation Committee on February 28, 2020. On March 1, 2019, pursuant to the Issuer's 2015 Incentive Award Plan, as amended, the Reporting Person was awarded performance stock units that issue into restricted stock units representing the right to receive Class A Stock of the Issuer. The restricted stock units representing the right to receive Class A Stock of the Issuer vest in 4 equal installments on each of March 1, 2020, March 1, 2021, March 1, 2022 and March 1, 2023. This amendment is made to correct the number of shares of Class A Stock reported on the Form 4 filed on March 3, 2020 in this transaction.

SEC source: 0001620533-20-000016 · wf-form4a_158344545343274.xml · nonDerivative · entry 3

Comonte Tara · CIK 0001708832 · PRESIDENT & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 61,571

F3 · shares: Represents shares of Class A Stock of the Issuer withheld for taxes upon the vesting of restricted stock units that were previously acquired by the Reporting Person on March 1, 2019 pursuant to the Issuer's 2015 Incentive Award Plan, as amended.

SEC source: 0001620533-20-000016 · wf-form4a_158344545343274.xml · nonDerivative · entry 2

Comonte Tara · CIK 0001708832 · PRESIDENT & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 62,536

F2 · shares: Represents shares of Class A Stock of the Issuer withheld for taxes upon the vesting of restricted stock units that were previously acquired by the Reporting Person upon the Issuer's achievement of certain performance criteria for fiscal year 2019, as determined by the Issuer's Compensation Committee on February 28, 2020.

SEC source: 0001620533-20-000016 · wf-form4a_158344545343274.xml · nonDerivative · entry 1

Comonte Tara · CIK 0001708832 · PRESIDENT & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 63,627

F1 · shares: Represents shares of Class A Common Stock ("Class A Stock") of Shake Shack Inc. (the "Issuer") underlying restricted stock units acquired by the Reporting Person upon the Issuer's achievement of certain performance targets for certain performance criteria for fiscal year 2019, as determined by the Issuer's Compensation Committee on February 28, 2020. On March 1, 2019, pursuant to the Issuer's 2015 Incentive Award Plan, as amended, the Reporting Person was awarded performance stock units that issue into restricted stock units representing the right to receive Class A Stock of the Issuer. The restricted stock units representing the right to receive Class A Stock of the Issuer vest in 4 equal installments on each of March 1, 2020, March 1, 2021, March 1, 2022 and March 1, 2023. This amendment is made to correct the number of shares of Class A Stock reported on the Form 4 filed on March 3, 2020 in this transaction.

F1 · price: Represents shares of Class A Common Stock ("Class A Stock") of Shake Shack Inc. (the "Issuer") underlying restricted stock units acquired by the Reporting Person upon the Issuer's achievement of certain performance targets for certain performance criteria for fiscal year 2019, as determined by the Issuer's Compensation Committee on February 28, 2020. On March 1, 2019, pursuant to the Issuer's 2015 Incentive Award Plan, as amended, the Reporting Person was awarded performance stock units that issue into restricted stock units representing the right to receive Class A Stock of the Issuer. The restricted stock units representing the right to receive Class A Stock of the Issuer vest in 4 equal installments on each of March 1, 2020, March 1, 2021, March 1, 2022 and March 1, 2023. This amendment is made to correct the number of shares of Class A Stock reported on the Form 4 filed on March 3, 2020 in this transaction.

SEC source: 0001620533-20-000018 · wf-form4a_158344555840036.xml · nonDerivative · entry 1

GARUTTI RANDALL J · CIK 0001632017 · Director · Chief Executive Officer · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 38,779

F1 · shares: Represents shares of Class A Common Stock ("Class A Stock") of Shake Shack Inc. (the "Issuer") underlying restricted stock units acquired by the Reporting Person upon the Issuer's achievement of certain performance targets for certain performance criteria for fiscal year 2019, as determined by the Issuer's Compensation Committee on February 28, 2020. On March 1, 2019, pursuant to the Issuer's 2015 Incentive Award Plan, as amended, the Reporting Person was awarded performance stock units that issue into restricted stock units representing the right to receive Class A Stock of the Issuer. The restricted stock units representing the right to receive Class A Stock of the Issuer vest in 4 equal installments on each of March 1, 2020, March 1, 2021, March 1, 2022 and March 1, 2023. This amendment is made to correct the number of shares of Class A Stock reported on the Form 4 filed on March 3, 2020 in this transaction.

F1 · price: Represents shares of Class A Common Stock ("Class A Stock") of Shake Shack Inc. (the "Issuer") underlying restricted stock units acquired by the Reporting Person upon the Issuer's achievement of certain performance targets for certain performance criteria for fiscal year 2019, as determined by the Issuer's Compensation Committee on February 28, 2020. On March 1, 2019, pursuant to the Issuer's 2015 Incentive Award Plan, as amended, the Reporting Person was awarded performance stock units that issue into restricted stock units representing the right to receive Class A Stock of the Issuer. The restricted stock units representing the right to receive Class A Stock of the Issuer vest in 4 equal installments on each of March 1, 2020, March 1, 2021, March 1, 2022 and March 1, 2023. This amendment is made to correct the number of shares of Class A Stock reported on the Form 4 filed on March 3, 2020 in this transaction.

SEC source: 0001209191-20-010425 · doc4.xml · nonDerivative · entry 4

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 0

F1 · kind: 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").

F12 · shares: Represents shares of A-Common sold by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common sold, 21,103 were sold by GEI VI, 12,579 were sold by GEI Side VI, and 1,541 were sold by Malted.

F13 · price: This transaction was executed in multiple trades at prices ranging from $73.65 to $74.1000. 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.

F14 · balance_after: Represents shares owned by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common reported, 0 are owned by GEI VI, 0 are owned by GEI Side VI, and 0 are owned by Malted.

F5 · ownership.nature: 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.

SEC source: 0001209191-20-010425 · doc4.xml · nonDerivative · entry 3

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 35,223

F1 · kind: 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").

F9 · shares: Represents shares of A-Common sold by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common sold, 68,766 were sold by GEI VI, 40,987 were sold by GEI Side VI, and 5,019 were sold by Malted.

F10 · price: This transaction was executed in multiple trades at prices ranging from $72.65 to $73.6499. 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.

F11 · balance_after: Represents shares owned by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common reported, 21,103 are owned by GEI VI, 12,579 are owned by GEI Side VI, and 1,541 are owned by Malted.

F5 · ownership.nature: 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.

SEC source: 0001209191-20-010425 · doc4.xml · nonDerivative · entry 2

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 149,995

F1 · kind: 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").

F6 · shares: Represents shares of A-Common sold by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common sold, 6,185 were sold by GEI VI, 3,687 were sold by GEI Side VI, and 451 were sold by Malted.

F7 · price: This transaction was executed in multiple trades at prices ranging from $74.39 to $74.56. 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.

F8 · balance_after: Represents shares owned by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common reported, 89,869 are owned by GEI VI, 53,566 are owned by GEI Side VI, and 6,560 are owned by Malted.

F5 · ownership.nature: 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.

SEC source: 0001209191-20-010425 · doc4.xml · nonDerivative · entry 1

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 160,318

F1 · kind: 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").

F2 · shares: 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, 101,303 were sold by GEI VI, 60,380 were sold by GEI Side VI, and 7,394 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."

F3 · price: This transaction was executed in multiple trades at prices ranging from $73.39 to $74.3899. 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.

F4 · balance_after: Represents shares owned by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common reported, 96,054 are owned by GEI VI, 57,253 are owned by GEI Side VI, and 7,011 are owned by Malted.

F5 · ownership.nature: 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.

SEC source: 0001209191-20-003560 · doc4.xml · nonDerivative · entry 8

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 329,395

F1 · kind: 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").

F24 · shares: Represents shares of A-Common sold by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common sold, 32,659 were sold by GEI VI, 19,467were sold by GEI Side VI, and 2,384 were sold by Malted.

F25 · price: This transaction was executed in multiple trades at prices ranging from $64.19 to $64.61. 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.

F26 · balance_after: Represents shares owned by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common reported, 197,357 are owned by GEI VI, 117,633 are owned by GEI Side VI, and 14,405 are owned by Malted.

F5 · ownership.nature: 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.

SEC source: 0001209191-20-003560 · doc4.xml · nonDerivative · entry 7

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 383,905

F1 · kind: 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").

F21 · shares: Represents shares of A-Common sold by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common sold, 34,386 were sold by GEI VI, 20,495 were sold by GEI Side VI, and 2,510 were sold by Malted.

F22 · price: This transaction was executed in multiple trades at prices ranging from $63.19 to $64.1899. 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.

F23 · balance_after: Represents shares owned by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common reported, 230,016 are owned by GEI VI, 137,100 are owned by GEI Side VI, and 16,789 are owned by Malted.

F5 · ownership.nature: 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.

SEC source: 0001209191-20-003560 · doc4.xml · nonDerivative · entry 6

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 441,296

F1 · kind: 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").

F18 · shares: Represents shares of A-Common sold by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common sold, 67,587 were sold by GEI VI, 40,284 were sold by GEI Side VI, and 4,933 were sold by Malted.

F19 · price: This transaction was executed in multiple trades at prices ranging from $62.19 to $63.1899. 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.

F20 · balance_after: Represents shares owned by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common reported, 264,402 are owned by GEI VI, 157,595 are owned by GEI Side VI, and 19,299 are owned by Malted.

F5 · ownership.nature: 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.

SEC source: 0001209191-20-003560 · doc4.xml · nonDerivative · entry 5

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 554,100

F1 · kind: 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").

F15 · shares: Represents shares of A-Common sold by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common sold, 60,422 were sold by GEI VI, 36,014 were sold by GEI Side VI, and 4,410 were sold by Malted.

F16 · price: This transaction was executed in multiple trades at prices ranging from $61.19 to $62.1899. 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.

F17 · balance_after: Represents shares owned by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common reported, 331,989 are owned by GEI VI, 197,879 are owned by GEI Side VI, and 24,232 are owned by Malted.

F5 · ownership.nature: 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.

SEC source: 0001209191-20-003560 · doc4.xml · nonDerivative · entry 4

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 654,946

F1 · kind: 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").

F12 · shares: Represents shares of A-Common sold by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common sold, 31,946 were sold by GEI VI, 19,041 were sold by GEI Side VI, and 2,331 were sold by Malted.

F13 · price: This transaction was executed in multiple trades at prices ranging from $60.19 to $61.1899. 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.

F14 · balance_after: Represents shares owned by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common reported, 392,411 are owned by GEI VI, 233,893 are owned by GEI Side VI, and 28,642 are owned by Malted.

F5 · ownership.nature: 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.

SEC source: 0001209191-20-003560 · doc4.xml · nonDerivative · entry 3

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 708,264

F1 · kind: 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").

F9 · shares: Represents shares of A-Common sold by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common sold, 40,487 were sold by GEI VI, 24,131 were sold by GEI Side VI, and 2,955 were sold by Malted.

F10 · price: This transaction was executed in multiple trades at prices ranging from $59.19 to $60.1899. 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.

F11 · balance_after: Represents shares owned by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common reported, 424,357 are owned by GEI VI, 252,934 are owned by GEI Side VI, and 30,973 are owned by Malted.

F5 · ownership.nature: 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.

SEC source: 0001209191-20-003560 · doc4.xml · nonDerivative · entry 2

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 775,837

F1 · kind: 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").

F6 · shares: Represents shares of A-Common sold by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common sold, 12,580 were sold by GEI VI, 7,498 were sold by GEI Side VI, and 918 were sold by Malted.

F7 · price: This transaction was executed in multiple trades at prices ranging from $60.57 to $61.07. 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.

F8 · balance_after: Represents shares owned by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common reported, 464,844 are owned by GEI VI, 277,065 are owned by GEI Side VI, and 33,928 are owned by Malted.

F5 · ownership.nature: 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.

SEC source: 0001209191-20-003560 · doc4.xml · nonDerivative · entry 1

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 796,833

F1 · kind: 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").

F2 · shares: 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, 189,849 were sold by GEI VI, 113,156 were sold by GEI Side VI, and 13,856 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."

F3 · price: This transaction was executed in multiple trades at prices ranging from $59.57 to $60.5699. 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.

F4 · balance_after: Represents shares owned by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common reported, 477,424 are owned by GEI VI, 284,563 are owned by GEI Side VI, and 34,846 are owned by Malted.

F5 · ownership.nature: 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.

SEC source: 0001620533-20-000002 · wf-form4_157843532669468.xml · nonDerivative · entry 3

Comonte Tara · CIK 0001708832 · PRESIDENT & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 58,242

F3 · shares: Represents shares of Class A Stock of the Issuer underlying restricted stock units acquired by the Reporting Person pursuant to the Employment Agreement and the Incentive Award Plan. The restricted stock units representing the right to receive Class A Stock of the Issuer vest in five equal installments, beginning on January 3, 2021 and continuing on each of the following four year anniversaries, subject to the Employment Agreement.

F3 · price: Represents shares of Class A Stock of the Issuer underlying restricted stock units acquired by the Reporting Person pursuant to the Employment Agreement and the Incentive Award Plan. The restricted stock units representing the right to receive Class A Stock of the Issuer vest in five equal installments, beginning on January 3, 2021 and continuing on each of the following four year anniversaries, subject to the Employment Agreement.

SEC source: 0001620533-20-000002 · wf-form4_157843532669468.xml · nonDerivative · entry 2

Comonte Tara · CIK 0001708832 · PRESIDENT & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 49,976

F2 · shares: Represents shares of Class A Stock of the Issuer withheld for taxes upon the vesting of restricted stock units that were previously acquired by the Reporting Person on January 3, 2019 pursuant to the Reporting Person's Employment Agreement and the Incentive Award Plan.

F2 · price: Represents shares of Class A Stock of the Issuer withheld for taxes upon the vesting of restricted stock units that were previously acquired by the Reporting Person on January 3, 2019 pursuant to the Reporting Person's Employment Agreement and the Incentive Award Plan.

SEC source: 0001620533-20-000002 · wf-form4_157843532669468.xml · nonDerivative · entry 1

Comonte Tara · CIK 0001708832 · PRESIDENT & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 50,842

F1 · shares: Represents shares of Class A Common Stock ("Class A Stock") of Shake Shack Inc. (the "Issuer") withheld for taxes upon the vesting of restricted stock units that were previously acquired by the Reporting Person on January 3, 2018 pursuant to the Reporting Person's Employment Agreement with the Issuer (the "Employment Agreement") and the Issuer's 2015 Incentive Award Plan, as amended (the "Incentive Award Plan").

F1 · price: Represents shares of Class A Common Stock ("Class A Stock") of Shake Shack Inc. (the "Issuer") withheld for taxes upon the vesting of restricted stock units that were previously acquired by the Reporting Person on January 3, 2018 pursuant to the Reporting Person's Employment Agreement with the Issuer (the "Employment Agreement") and the Issuer's 2015 Incentive Award Plan, as amended (the "Incentive Award Plan").

SEC source: 0001620533-19-000144 · wf-form4_157299136073391.xml · derivative · entry 4

GARUTTI RANDALL J · CIK 0001632017 · Director · Chief Executive Officer · 10% owner

GARUTTI MARIA L · CIK 0001633960 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 535,000

Underlying: CLASS A COMMON STOCK · 30,000 shares

Expires 2025-01-29

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F5 · derivative.exercise_date: An option to purchase 685,000 shares of Class A Stock of Shake Shack Inc. (the "Issuer") 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, and January 29, 2019, and 137,000 options will vest on January 29, 2020, subject to Mr. Garutti's continued service with the Issuer.

SEC source: 0001620533-19-000144 · wf-form4_157299136073391.xml · nonDerivative · entry 3

GARUTTI RANDALL J · CIK 0001632017 · Director · Chief Executive Officer · 10% owner

GARUTTI MARIA L · CIK 0001633960 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 30,702

F1 · kind: The transactions reflected in this Form 4 were effected pursuant to a Rule 10b5-1 Trading Plan that was adopted by Mr. Garutti on August 7, 2019.

F3 · price: Each Reporting Person 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 transaction was effected.

F4 · price: The transaction was executed in multiple trades at prices ranging from $82.9400 to $83.0100. The price reported above reflects the weighted average sales price.

SEC source: 0001620533-19-000144 · wf-form4_157299136073391.xml · nonDerivative · entry 2

GARUTTI RANDALL J · CIK 0001632017 · Director · Chief Executive Officer · 10% owner

GARUTTI MARIA L · CIK 0001633960 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 31,486

F1 · kind: The transactions reflected in this Form 4 were effected pursuant to a Rule 10b5-1 Trading Plan that was adopted by Mr. Garutti on August 7, 2019.

F2 · price: The transaction was executed in multiple trades at prices ranging from $81.9400 to $82.9399. The price reported above reflects the weighted average sales price.

F3 · price: Each Reporting Person 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 transaction was effected.

SEC source: 0001620533-19-000144 · wf-form4_157299136073391.xml · nonDerivative · entry 1

GARUTTI RANDALL J · CIK 0001632017 · Director · Chief Executive Officer · 10% owner

GARUTTI MARIA L · CIK 0001633960 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 60,702

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: The transactions reflected in this Form 4 were effected pursuant to a Rule 10b5-1 Trading Plan that was adopted by Mr. Garutti on August 7, 2019.

SEC source: 0001209191-19-054358 · doc4.xml · derivative · entry 5

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 0

Underlying: Class A Common Stock · 595,110 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F7 · derivative.exercise_price: 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).

F8 · shares: Represents shares paired with LLC Interests on a one-to-one basis by GEI VI and Malted and exchanged or shares of A-Common. Of the shares reported in this row, 554,633 were issued to GEI VI and 40,477 were issued to Malted.

F9 · price: Not applicable.

F7 · derivative.exercise_date: 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).

F9 · derivative.expiration_date: Not applicable.

F8 · derivative.underlying_shares: Represents shares paired with LLC Interests on a one-to-one basis by GEI VI and Malted and exchanged or shares of A-Common. Of the shares reported in this row, 554,633 were issued to GEI VI and 40,477 were issued to Malted.

F10 · balance_after: Represents shares of B-Common owned by GEI VI and Malted. Of the shares of B-Common reported on this row, 0 are owned by GEI VI and 0 are owned by Malted.

F11 · ownership.nature: 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.

SEC source: 0001209191-19-054358 · doc4.xml · nonDerivative · entry 1

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 1,113,694

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · shares: Represents shares of Class A common stock, par value $0.001 per share ("A-Common") issued to Green Equity Investors VI, L.P. ("GEI VI") and LGP Malted Coinvest LLC ("Malted"). 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 7 to this Form 4. Of the newly-issued shares of A-Common reported in this row, 554,633 were issued to GEI VI, and 40,477 were issued to Malted.

F2 · balance_after: Represents shares owned by GEI VI, Green Equity Investors Side VI, L.P. ("GEI Side VI"), and Malted. Of the shares of A-Common reported, 667,273 are owned by GEI VI, 397,719 are owned by GEI Side VI, and 48,702 are owned 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."

F3 · ownership.nature: 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.

SEC source: 0001620533-19-000133 · wf-form4_157013487713537.xml · derivative · entry 8

GARUTTI RANDALL J · CIK 0001632017 · Director · Chief Executive Officer · 10% owner

GARUTTI MARIA L · CIK 0001633960 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 565,000

Underlying: CLASS A COMMON STOCK · 60,000 shares

Expires 2025-01-29

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F9 · derivative.exercise_date: An option to purchase 685,000 shares of Class A Common Stock of Shake Shack Inc. (the "Issuer") 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 and January 29, 2019, and 137,000 options will vest on January 29, 2020, subject to Mr. Garutti's continued service with the Issuer.

SEC source: 0001620533-19-000133 · wf-form4_157013487713537.xml · nonDerivative · entry 7

GARUTTI RANDALL J · CIK 0001632017 · Director · Chief Executive Officer · 10% owner

GARUTTI MARIA L · CIK 0001633960 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 30,702

F1 · kind: The transactions reflected in this Form 4 were effected pursuant to a Rule 10b5-1 Trading Plan that was adopted by Mr. Garutti on August 7, 2019.

F3 · price: Each Reporting Person 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 transaction was effected.

F8 · price: The transaction was executed in multiple trades at prices ranging from $97.6950 to $97.9300. The price reported above reflects the weighted average sales price.

SEC source: 0001620533-19-000133 · wf-form4_157013487713537.xml · nonDerivative · entry 6

GARUTTI RANDALL J · CIK 0001632017 · Director · Chief Executive Officer · 10% owner

GARUTTI MARIA L · CIK 0001633960 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 30,892

F1 · kind: The transactions reflected in this Form 4 were effected pursuant to a Rule 10b5-1 Trading Plan that was adopted by Mr. Garutti on August 7, 2019.

F3 · price: Each Reporting Person 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 transaction was effected.

F7 · price: The transaction was executed in multiple trades at prices ranging from $96.6950 to $97.6949. The price reported above reflects the weighted average sales price.

SEC source: 0001620533-19-000133 · wf-form4_157013487713537.xml · nonDerivative · entry 5

GARUTTI RANDALL J · CIK 0001632017 · Director · Chief Executive Officer · 10% owner

GARUTTI MARIA L · CIK 0001633960 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 33,703

F1 · kind: The transactions reflected in this Form 4 were effected pursuant to a Rule 10b5-1 Trading Plan that was adopted by Mr. Garutti on August 7, 2019.

F3 · price: Each Reporting Person 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 transaction was effected.

F6 · price: The transaction was executed in multiple trades at prices ranging from $95.6950 to $96.6949. The price reported above reflects the weighted average sales price.

SEC source: 0001620533-19-000133 · wf-form4_157013487713537.xml · nonDerivative · entry 4

GARUTTI RANDALL J · CIK 0001632017 · Director · Chief Executive Officer · 10% owner

GARUTTI MARIA L · CIK 0001633960 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 35,002

F1 · kind: The transactions reflected in this Form 4 were effected pursuant to a Rule 10b5-1 Trading Plan that was adopted by Mr. Garutti on August 7, 2019.

F3 · price: Each Reporting Person 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 transaction was effected.

F5 · price: The transaction was executed in multiple trades at prices ranging from $94.6950 to $95.6949. The price reported above reflects the weighted average sales price.

SEC source: 0001620533-19-000133 · wf-form4_157013487713537.xml · nonDerivative · entry 3

GARUTTI RANDALL J · CIK 0001632017 · Director · Chief Executive Officer · 10% owner

GARUTTI MARIA L · CIK 0001633960 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 37,002

F1 · kind: The transactions reflected in this Form 4 were effected pursuant to a Rule 10b5-1 Trading Plan that was adopted by Mr. Garutti on August 7, 2019.

F3 · price: Each Reporting Person 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 transaction was effected.

F4 · price: The transaction was executed in multiple trades at prices ranging from $93.6950 to $94.6949. The price reported above reflects the weighted average sales price.

SEC source: 0001620533-19-000133 · wf-form4_157013487713537.xml · nonDerivative · entry 2

GARUTTI RANDALL J · CIK 0001632017 · Director · Chief Executive Officer · 10% owner

GARUTTI MARIA L · CIK 0001633960 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 43,512

F1 · kind: The transactions reflected in this Form 4 were effected pursuant to a Rule 10b5-1 Trading Plan that was adopted by Mr. Garutti on August 7, 2019.

F2 · price: The transaction was executed in multiple trades at prices ranging from $92.6950 to $93.6949. The price reported above reflects the weighted average sales price.

F3 · price: Each Reporting Person 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 transaction was effected.

SEC source: 0001620533-19-000133 · wf-form4_157013487713537.xml · nonDerivative · entry 1

GARUTTI RANDALL J · CIK 0001632017 · Director · Chief Executive Officer · 10% owner

GARUTTI MARIA L · CIK 0001633960 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 90,702

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: The transactions reflected in this Form 4 were effected pursuant to a Rule 10b5-1 Trading Plan that was adopted by Mr. Garutti on August 7, 2019.

SEC source: 0001620533-19-000131 · wf-form4_156831864624478.xml · derivative · entry 6

Lyons Jenna · CIK 0001452724 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: CLASS A COMMON STOCK · 3,004 shares

Expires 2026-05-19

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

SEC source: 0001620533-19-000131 · wf-form4_156831864624478.xml · derivative · entry 5

Lyons Jenna · CIK 0001452724 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,255

Underlying: CLASS A COMMON STOCK · 2,121 shares

Expires 2025-01-29

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

SEC source: 0001620533-19-000131 · wf-form4_156831864624478.xml · nonDerivative · entry 4

Lyons Jenna · CIK 0001452724 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,116

F1 · price: The Reporting Person 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 transaction was effected.

F3 · price: The transaction was executed in multiple trades at prices ranging from $98.9000 to $98.9500. The price reported above reflects the weighted average sales price.

SEC source: 0001620533-19-000131 · wf-form4_156831864624478.xml · nonDerivative · entry 3

Lyons Jenna · CIK 0001452724 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,120

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

SEC source: 0001620533-19-000131 · wf-form4_156831864624478.xml · nonDerivative · entry 2

Lyons Jenna · CIK 0001452724 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,116

F1 · price: The Reporting Person 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 transaction was effected.

F2 · price: The transaction was executed in multiple trades at prices ranging from $98.8800 to $99.0100. The price reported above reflects the weighted average sales price.

SEC source: 0001620533-19-000131 · wf-form4_156831864624478.xml · nonDerivative · entry 1

Lyons Jenna · CIK 0001452724 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,237

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

SEC source: 0001620533-19-000129 · wf-form4_156823453957609.xml · derivative · entry 6

GARUTTI RANDALL J · CIK 0001632017 · Director · Chief Executive Officer · 10% owner

GARUTTI MARIA L · CIK 0001633960 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 625,000

Underlying: CLASS A COMMON STOCK · 60,000 shares

Expires 2025-01-29

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F7 · derivative.exercise_date: An option to purchase 685,000 shares of Class A Common Stock of Shake Shack Inc. (the "Issuer") 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, and January 29, 2019, and 137,000 options will vest on January 29, 2020, subject to Mr. Garutti's continued service with the Issuer.

SEC source: 0001620533-19-000129 · wf-form4_156823453957609.xml · nonDerivative · entry 5

GARUTTI RANDALL J · CIK 0001632017 · Director · Chief Executive Officer · 10% owner

GARUTTI MARIA L · CIK 0001633960 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 30,702

F1 · kind: The transactions reflected in this Form 4 were effected pursuant to a Rule 10b5-1 Trading Plan that was adopted by Mr. Garutti on August 7, 2019.

F3 · price: Each Reporting Person 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 transaction was effected.

F6 · price: The transaction was executed in multiple trades at prices ranging from $105.0550 to $105.2300. The price reported above reflects the weighted average sales price.

SEC source: 0001620533-19-000129 · wf-form4_156823453957609.xml · nonDerivative · entry 4

GARUTTI RANDALL J · CIK 0001632017 · Director · Chief Executive Officer · 10% owner

GARUTTI MARIA L · CIK 0001633960 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 31,202

F1 · kind: The transactions reflected in this Form 4 were effected pursuant to a Rule 10b5-1 Trading Plan that was adopted by Mr. Garutti on August 7, 2019.

F3 · price: Each Reporting Person 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 transaction was effected.

F5 · price: The transaction was executed in multiple trades at prices ranging from $104.0550 to $105.0549. The price reported above reflects the weighted average sales price.

SEC source: 0001620533-19-000129 · wf-form4_156823453957609.xml · nonDerivative · entry 3

GARUTTI RANDALL J · CIK 0001632017 · Director · Chief Executive Officer · 10% owner

GARUTTI MARIA L · CIK 0001633960 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 34,602

F1 · kind: The transactions reflected in this Form 4 were effected pursuant to a Rule 10b5-1 Trading Plan that was adopted by Mr. Garutti on August 7, 2019.

F3 · price: Each Reporting Person 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 transaction was effected.

F4 · price: The transaction was executed in multiple trades at prices ranging from $103.0550 to $104.0549. The price reported above reflects the weighted average sales price.

SEC source: 0001620533-19-000129 · wf-form4_156823453957609.xml · nonDerivative · entry 2

GARUTTI RANDALL J · CIK 0001632017 · Director · Chief Executive Officer · 10% owner

GARUTTI MARIA L · CIK 0001633960 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 53,644

F1 · kind: The transactions reflected in this Form 4 were effected pursuant to a Rule 10b5-1 Trading Plan that was adopted by Mr. Garutti on August 7, 2019.

F2 · price: The transaction was executed in multiple trades at prices ranging from $102.0550 to $103.0549. The price reported above reflects the weighted average sales price.

F3 · price: Each Reporting Person 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 transaction was effected.