SHAK

SEC source: 0001209191-19-029443 · doc4.xml · nonDerivative · entry 2

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 1,186,415

F5 · shares: Represents shares of A-Common sold by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common sold, 81,595 were sold by GEI VI, 48,631 were sold by GEI Side VI, and 5,956 were sold by Malted.

F6 · price: This transaction was executed in multiple trades at prices ranging from $60.06 to $60.67. 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.

F7 · balance_after: Represents shares owned by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common reported, 512,784 are owned by GEI VI, 636,197 are owned by GEI Side VI, and 37,434 are owned by Malted.

F4 · 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: 0001209191-19-029443 · doc4.xml · nonDerivative · entry 1

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 1,322,597

F1 · shares: Represents 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, 32,187 were sold by GEI VI, 19,184 were sold by GEI Side VI, and 2,349 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."

F2 · price: This transaction was executed in multiple trades at prices ranging from $60.02 to $60.23. 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.

F3 · balance_after: Represents shares owned by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common reported, 594,379 are owned by GEI VI, 684,828 are owned by GEI Side VI, and 43,390 are owned by Malted.

F4 · 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: 0001209191-19-028451 · doc4.xml · nonDerivative · entry 3

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 1,376,317

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, 1,020 were sold by GEI VI, 606 were sold by GEI Side VI, and 74 were sold by Malted.

F10 · price: This transaction was executed in multiple trades at prices ranging from $58.68 to $59.29. 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, 626,566 are owned by GEI VI, 704,012 are owned by GEI Side VI, and 45,739 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: 0001209191-19-028451 · doc4.xml · nonDerivative · entry 2

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 1,378,017

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, 1,858 were sold by GEI VI, 1,106 were sold by GEI Side VI, and 136 were sold by Malted.

F7 · price: This transaction was executed in multiple trades at prices ranging from $57.68 to $58.6799. 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, 627,586 are owned by GEI VI, 704,618 are owned by GEI Side VI, and 45,813 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: 0001209191-19-028451 · doc4.xml · nonDerivative · entry 1

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 1,381,117

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, 2,564 were sold by GEI VI, 1,527 were sold by GEI Side VI, and 187 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 $56.68 to $57.6799. 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, 629,444 are owned by GEI VI, 705,724 are owned by GEI Side VI, and 45,949 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: 0001620533-19-000049 · wf-form4_155691699796151.xml · nonDerivative · entry 2

Meyer Daniel Harris · CIK 0001463932 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 229,443

F1 · shares: Represents shares of Class A Common Stock ("Class A Stock") of Shake Shack Inc. (the "Issuer") that were disposed of by the Reporting Person through the Daniel H. Meyer Investment Trust d/t/d 5/15/92 (the "Investment Trust") pursuant to a 10b5-1 trading plan entered into on March 10, 2019. The Reporting Person is the grantor, trustee and beneficiary of the Investment Trust. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

F3 · 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.

F5 · price: The transaction was executed in multiple trades at prices ranging from $61.8900 to $62.2400. The price reported above reflects the weighted average sales price.

F4 · ownership.nature: Represents Class A Stock of the Issuer held by the Reporting Person through the Investment Trust. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

SEC source: 0001620533-19-000049 · wf-form4_155691699796151.xml · nonDerivative · entry 1

Meyer Daniel Harris · CIK 0001463932 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 239,933

F1 · shares: Represents shares of Class A Common Stock ("Class A Stock") of Shake Shack Inc. (the "Issuer") that were disposed of by the Reporting Person through the Daniel H. Meyer Investment Trust d/t/d 5/15/92 (the "Investment Trust") pursuant to a 10b5-1 trading plan entered into on March 10, 2019. The Reporting Person is the grantor, trustee and beneficiary of the Investment Trust. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

F2 · price: The transaction was executed in multiple trades at prices ranging from $60.8900 to $61.8899. The price reported above reflects the weighted average sales price.

F3 · 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.

F4 · ownership.nature: Represents Class A Stock of the Issuer held by the Reporting Person through the Investment Trust. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

SEC source: 0001620533-19-000044 · wf-form4_155665539474814.xml · nonDerivative · entry 1

Koff Zach · CIK 0001693743 · Chief Operating Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,531

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 2016, as determined by the Issuer's Compensation Committee on March 13, 2017.

SEC source: 0001209191-19-026503 · doc4.xml · derivative · entry 5

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 595,110

Underlying: Class A Common Stock · 336,153 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 for shares of A-Common. Of the shares of reported in this row, 313,283 were issued to GEI VI, and 22,870 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 for shares of A-Common. Of the shares of reported in this row, 313,283 were issued to GEI VI, and 22,870 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, 554,633 are owned by GEI VI and 40,477 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: 0001209191-19-026503 · doc4.xml · nonDerivative · entry 1

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 1,385,395

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, 313,283 were issued to GEI VI, and 22,870 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, 632,008 are owned by GEI VI, 707,251 are owned by GEI Side VI, and 46,136 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: 0001620533-19-000039 · wf-form4_155657218931861.xml · derivative · entry 6

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

GARUTTI MARIA L · CIK 0001633960 · 10% owner

GARUTTI RONALD J JR · CIK 0001633954 · 10% owner

RANDALL J. GARUTTI GST TRUST DATED 12/30/2014 · CIK 0001633809 · 10% owner

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 329,051

Underlying: CLASS A COMMON STOCK · 15,000 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.

F8 · derivative.exercise_price: The LLC Interests are redeemable for an equal number of shares of the Issuer's Class A Common Stock or, at the election of the Issuer, cash equal to the volume-weighted average market price of such shares. The LLC Interests have no expiration date.

F8 · derivative.exercise_date: The LLC Interests are redeemable for an equal number of shares of the Issuer's Class A Common Stock or, at the election of the Issuer, cash equal to the volume-weighted average market price of such shares. The LLC Interests have no expiration date.

F8 · derivative.expiration_date: The LLC Interests are redeemable for an equal number of shares of the Issuer's Class A Common Stock or, at the election of the Issuer, cash equal to the volume-weighted average market price of such shares. The LLC Interests have no expiration date.

SEC source: 0001620533-19-000039 · wf-form4_155657218931861.xml · nonDerivative · entry 4

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

GARUTTI MARIA L · CIK 0001633960 · 10% owner

GARUTTI RONALD J JR · CIK 0001633954 · 10% owner

RANDALL J. GARUTTI GST TRUST DATED 12/30/2014 · CIK 0001633809 · 10% owner

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 329,051

F6 · price: Pursuant to the Amended and Restated Certificate of Incorporation of the Issuer, the shares of the Issuer's Class B Common Stock ("Class B Stock") are cancelled for no consideration on a one-to-one basis upon redemption of the LLC Interests for shares of Class A Stock of the Issuer.

SEC source: 0001620533-19-000039 · wf-form4_155657218931861.xml · nonDerivative · entry 3

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

GARUTTI MARIA L · CIK 0001633960 · 10% owner

GARUTTI RONALD J JR · CIK 0001633954 · 10% owner

RANDALL J. GARUTTI GST TRUST DATED 12/30/2014 · CIK 0001633809 · 10% owner

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 23,555

F2 · shares: Represents shares of Class A Stock that were disposed of by Mr. Garutti pursuant to a 10b5-1 trading plan entered into on November 16, 2018.

F4 · 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 $61.3200 to $61.8400. The price reported above reflects the weighted average sales price.

SEC source: 0001620533-19-000039 · wf-form4_155657218931861.xml · nonDerivative · entry 2

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

GARUTTI MARIA L · CIK 0001633960 · 10% owner

GARUTTI RONALD J JR · CIK 0001633954 · 10% owner

RANDALL J. GARUTTI GST TRUST DATED 12/30/2014 · CIK 0001633809 · 10% owner

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 27,694

F2 · shares: Represents shares of Class A Stock that were disposed of by Mr. Garutti pursuant to a 10b5-1 trading plan entered into on November 16, 2018.

F3 · price: The transaction was executed in multiple trades at prices ranging from $60.3200 to $61.3199. The price reported above reflects the weighted average sales price.

F4 · 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: 0001620533-19-000039 · wf-form4_155657218931861.xml · nonDerivative · entry 1

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

GARUTTI MARIA L · CIK 0001633960 · 10% owner

GARUTTI RONALD J JR · CIK 0001633954 · 10% owner

RANDALL J. GARUTTI GST TRUST DATED 12/30/2014 · CIK 0001633809 · 10% owner

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 38,555

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 ("Class A Stock") of Shake Shack Inc. (the "Issuer") that were obtained upon a redemption of an equal number of common membership interests in SSE Holdings, LLC (the "LLC Interests").

F1 · price: Represents shares of Class A Common Stock ("Class A Stock") of Shake Shack Inc. (the "Issuer") that were obtained upon a redemption of an equal number of common membership interests in SSE Holdings, LLC (the "LLC Interests").

SEC source: 0001620533-19-000037 · wf-form4_155605308029049.xml · nonDerivative · entry 2

Meyer Daniel Harris · CIK 0001463932 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 304,443

F1 · shares: Represents shares of Class A Common Stock ("Class A Stock") of Shake Shack Inc. (the "Issuer") that were disposed of by the Reporting Person through the Daniel H. Meyer Investment Trust d/t/d 5/15/92 (the "Investment Trust") pursuant to a 10b5-1 trading plan entered into on March 10, 2019. The Reporting Person is the grantor, trustee and beneficiary of the Investment Trust. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

F3 · 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 transactionwas effected.

F5 · price: The transaction was executed in multiple trades at prices ranging from $60.0000 to $60.5000. The price reported above reflects the weighted average sales price.

F4 · ownership.nature: Represents Class A Stock of the Issuer held by the Reporting Person through the Investment Trust. The Reporting Person disclaims beneficial ownership of such shares except to the extent of hispecuniary interest therein.

SEC source: 0001620533-19-000037 · wf-form4_155605308029049.xml · nonDerivative · entry 1

Meyer Daniel Harris · CIK 0001463932 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 313,375

F1 · shares: Represents shares of Class A Common Stock ("Class A Stock") of Shake Shack Inc. (the "Issuer") that were disposed of by the Reporting Person through the Daniel H. Meyer Investment Trust d/t/d 5/15/92 (the "Investment Trust") pursuant to a 10b5-1 trading plan entered into on March 10, 2019. The Reporting Person is the grantor, trustee and beneficiary of the Investment Trust. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

F2 · price: The transaction was executed in multiple trades at prices ranging from $60.0000 to $60.2100. The price reported above reflects the weighted average sales price.

F3 · 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 transactionwas effected.

F4 · ownership.nature: Represents Class A Stock of the Issuer held by the Reporting Person through the Investment Trust. The Reporting Person disclaims beneficial ownership of such shares except to the extent of hispecuniary interest therein.

SEC source: 0001620533-19-000035 · wf-form4_155553745574835.xml · nonDerivative · entry 2

Meyer Daniel Harris · CIK 0001463932 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 314,375

F1 · shares: Represents shares of Class A Common Stock ("Class A Stock") of Shake Shack Inc. (the "Issuer") that were disposed of by the Reporting Person through the Daniel H. Meyer Investment Trust d/t/d 5/15/92 (the "Investment Trust") pursuant to a 10b5-1 trading plan entered into on March 10, 2019. The Reporting Person is the grantor, trustee and beneficiary of the Investment Trust. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

F3 · 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.

F5 · price: The transaction was executed in multiple trades at prices ranging from $60.0000 to $60.1200. The price reported above reflects the weighted average sales price.

F4 · ownership.nature: Represents Class A Stock of the Issuer held by the Reporting Person through the Investment Trust. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniaryinterest therein.

SEC source: 0001620533-19-000035 · wf-form4_155553745574835.xml · nonDerivative · entry 1

Meyer Daniel Harris · CIK 0001463932 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trust

Disclosed balance after: 320,417

F1 · shares: Represents shares of Class A Common Stock ("Class A Stock") of Shake Shack Inc. (the "Issuer") that were disposed of by the Reporting Person through the Daniel H. Meyer Investment Trust d/t/d 5/15/92 (the "Investment Trust") pursuant to a 10b5-1 trading plan entered into on March 10, 2019. The Reporting Person is the grantor, trustee and beneficiary of the Investment Trust. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

F2 · price: The transaction was executed in multiple trades at prices ranging from $59.4500 to $60.3200. The price reported above reflects the weighted average sales price.

F3 · 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.

F4 · ownership.nature: Represents Class A Stock of the Issuer held by the Reporting Person through the Investment Trust. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniaryinterest therein.

SEC source: 0001209191-19-024320 · doc4.xml · nonDerivative · entry 6

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 1,049,242

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, 8,888 were sold by GEI VI, 5,296 were sold by GEI Side VI, and 650 were sold by Malted.

F19 · price: 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.

F20 · balance_after: 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.

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: 0001209191-19-024320 · doc4.xml · nonDerivative · entry 5

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 1,064,076

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, 44,685 were sold by GEI VI, 26,633 were sold by GEI Side VI, and 3,260 were sold by Malted.

F16 · price: 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.

F17 · balance_after: 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.

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: 0001209191-19-024320 · doc4.xml · nonDerivative · entry 4

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 1,138,654

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, 8,442 were sold by GEI VI, 5,031 were sold by GEI Side VI, and 617 were sold by Malted.

F13 · price: 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.

F14 · balance_after: 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.

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: 0001209191-19-024320 · doc4.xml · nonDerivative · entry 3

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 1,152,744

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, 36,122 were sold by GEI VI, 21,528 were sold by GEI Side VI, and 2,636 were sold by Malted.

F10 · price: 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.

F11 · balance_after: 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.

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: 0001209191-19-024320 · doc4.xml · nonDerivative · entry 2

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 1,213,030

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, 5,502 were sold by GEI VI, 3,278 were sold by GEI Side VI, and 402 were sold by Malted.

F7 · price: 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.

F8 · balance_after: 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.

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: 0001209191-19-024320 · doc4.xml · nonDerivative · entry 1

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 1,222,212

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, 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."

F3 · price: 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.

F4 · balance_after: 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.

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: 0001620533-19-000029 · wf-form4_155363555507517.xml · derivative · entry 6

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

GARUTTI MARIA L · CIK 0001633960 · 10% owner

RANDALL J. GARUTTI GST TRUST DATED 12/30/2014 · CIK 0001633809 · 10% owner

GARUTTI RONALD J JR · CIK 0001633954 · 10% owner

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 344,051

Underlying: CLASS A COMMON STOCK · 50,000 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.

F8 · derivative.exercise_price: The LLC Interests are redeemable for an equal number of shares of the Issuer's Class A Common Stock or, at the election of the Issuer, cash equal to the volume-weighted average market price of such shares.The LLC Interests have no expiration date.

F8 · derivative.exercise_date: The LLC Interests are redeemable for an equal number of shares of the Issuer's Class A Common Stock or, at the election of the Issuer, cash equal to the volume-weighted average market price of such shares.The LLC Interests have no expiration date.

F8 · derivative.expiration_date: The LLC Interests are redeemable for an equal number of shares of the Issuer's Class A Common Stock or, at the election of the Issuer, cash equal to the volume-weighted average market price of such shares.The LLC Interests have no expiration date.

SEC source: 0001620533-19-000029 · wf-form4_155363555507517.xml · nonDerivative · entry 4

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

GARUTTI MARIA L · CIK 0001633960 · 10% owner

RANDALL J. GARUTTI GST TRUST DATED 12/30/2014 · CIK 0001633809 · 10% owner

GARUTTI RONALD J JR · CIK 0001633954 · 10% owner

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 344,051

F6 · price: Pursuant to the Amended and Restated Certificate of Incorporation of the Issuer, the shares of the Issuer's Class B Common Stock ("Class B Stock") are cancelled for no consideration on a one-to-one basisupon redemption of the LLC Interests for shares of Class A Stock of the Issuer.

SEC source: 0001620533-19-000029 · wf-form4_155363555507517.xml · nonDerivative · entry 3

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

GARUTTI MARIA L · CIK 0001633960 · 10% owner

RANDALL J. GARUTTI GST TRUST DATED 12/30/2014 · CIK 0001633809 · 10% owner

GARUTTI RONALD J JR · CIK 0001633954 · 10% owner

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 23,555

F2 · shares: Represents shares of Class A Stock that were disposed of by Mr. Garutti pursuant to a 10b5-1 trading plan entered into on November 16, 2018.

F4 · 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 whichthe transaction was effected.

F5 · price: The transaction was executed in multiple trades at prices ranging from $54.4100 to $54.4500. The price reported above reflects the weighted average sales price.

SEC source: 0001620533-19-000029 · wf-form4_155363555507517.xml · nonDerivative · entry 2

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

GARUTTI MARIA L · CIK 0001633960 · 10% owner

RANDALL J. GARUTTI GST TRUST DATED 12/30/2014 · CIK 0001633809 · 10% owner

GARUTTI RONALD J JR · CIK 0001633954 · 10% owner

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 23,755

F2 · shares: Represents shares of Class A Stock that were disposed of by Mr. Garutti pursuant to a 10b5-1 trading plan entered into on November 16, 2018.

F3 · price: The transaction was executed in multiple trades at prices ranging from $53.4100 to $54.4099. The price reported above reflects the weighted average sales price.

F4 · 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 whichthe transaction was effected.

SEC source: 0001620533-19-000029 · wf-form4_155363555507517.xml · nonDerivative · entry 1

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

GARUTTI MARIA L · CIK 0001633960 · 10% owner

RANDALL J. GARUTTI GST TRUST DATED 12/30/2014 · CIK 0001633809 · 10% owner

GARUTTI RONALD J JR · CIK 0001633954 · 10% owner

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 73,555

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 ("Class A Stock") of Shake Shack Inc. (the "Issuer") that were obtained upon a redemption of an equal number of common membership interests in SSE Holdings,LLC (the "LLC Interests").

F1 · price: Represents shares of Class A Common Stock ("Class A Stock") of Shake Shack Inc. (the "Issuer") that were obtained upon a redemption of an equal number of common membership interests in SSE Holdings,LLC (the "LLC Interests").

SEC source: 0001209191-19-021473 · doc4.xml · derivative · entry 5

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 931,263

Underlying: Class A Common Stock · 336,153 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 for shares of A-Common. Of the shares of reported in this row, 313,283 were issued to GEI VI, and 22,870 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 for shares of A-Common. Of the shares of reported in this row, 313,283 were issued to GEI VI, and 22,870 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, 867,916 are owned by GEI VI and 63,347 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: 0001209191-19-021473 · doc4.xml · nonDerivative · entry 1

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 1,299,242

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, 313,283 were issued to GEI VI, and 22,870 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, 468,519 are owned by GEI VI, 796,524 are owned by GEI Side VI, and 34,199 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: 0001620533-19-000027 · wf-form4_155355089924377.xml · derivative · entry 1

Comonte Tara · CIK 0001708832 · CHIEF FINANCIAL OFFICER

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,785

Underlying: CLASS A COMMON STOCK · 3,785 shares

Expires 2029-03-22

F1 · derivative.exercise_date: The option vests in five equal installments on each of the first five anniversaries of the grant date, subject to the Reporting Person's employment agreement with the Issuer

SEC source: 0001620533-19-000025 · wf-form4_155311296352686.xml · nonDerivative · entry 1

Balbale Sumaiya · CIK 0001770993 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 173

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. On March 19, 2019, pursuant to the Issuer's 2015 Incentive Award Plan, as amended, and the Issuer's Non-Employee Director Compensation Policy, the Reporting Person was awarded restricted stock units that represent 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 on March 19, 2020, subject to the Reporting Person's continued service with the Issuer.

SEC source: 0001209191-19-020093 · doc4.xml · nonDerivative · entry 2

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 963,089

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, 5,880 were sold by GEI VI, 3,504 were sold by GEI Side VI, and 428 were sold by Malted.

F7 · price: This transaction was executed in multiple trades at prices ranging from $54.00 to $54.82. 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, 155,236 are owned by GEI VI, 796,524 are owned by GEI Side VI, and 11,329 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: 0001209191-19-020093 · doc4.xml · nonDerivative · entry 1

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 972,901

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, 32,559 were sold by GEI VI, 19,405 were sold by GEI Side VI, and 2,377 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 $53.00 to $53.99. 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, 161,116 are owned by GEI VI, 800,028 are owned by GEI Side VI, and 11,757 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: 0001209191-19-019229 · doc4.xml · nonDerivative · entry 3

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 1,027,242

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, 76,994 were sold by GEI VI, 45,886 were sold by GEI Side VI, and 5,620 were sold by Malted.

F10 · price: This transaction was executed in multiple trades at prices ranging from $53.00 to $53.37. 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, 193,675 are owned by GEI VI, 819,433 are owned by GEI Side VI, and 14,134 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: 0001209191-19-019229 · doc4.xml · nonDerivative · entry 2

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 1,155,742

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, 33,942 were sold by GEI VI, 20,228 were sold by GEI Side VI, and 2,477 were sold by Malted.

F7 · price: This transaction was executed in multiple trades at prices ranging from $53.00 to $53.11. 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, 270,669 are owned by GEI VI, 865,319 are owned by GEI Side VI, and 19,754 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: 0001209191-19-019229 · doc4.xml · nonDerivative · entry 1

SOKOLOFF JONATHAN D · CIK 0001175522 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 1,212,389

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, 419 were sold by GEI VI, 250 were sold by GEI Side VI, and 31 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 at the price of $53.00.

F4 · balance_after: Represents shares owned by GEI VI, GEI Side VI, and Malted. Of the shares of A-Common reported, 304,611 are owned by GEI VI, 885,547 are owned by GEI Side VI, and 22,231 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: 0001620533-19-000016 · wf-form4_155251081098929.xml · nonDerivative · entry 1

Koff Zach · CIK 0001693743 · Chief Operating Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,942

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 2018, as determined by the Issuer's Compensation Committee on March 11, 2019. On May 18, 2018, 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 3 equal installments on each of May 18, 2019, May 18, 2020 and May 18, 2021.

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 2018, as determined by the Issuer's Compensation Committee on March 11, 2019. On May 18, 2018, 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 3 equal installments on each of May 18, 2019, May 18, 2020 and May 18, 2021.

SEC source: 0001620533-19-000020 · wf-form4_155251149511238.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: 23,555

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 2018, as determined by the Issuer's Compensation Committee on March 11, 2019. On May 18, 2018, 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 3 equal installments on each of May 18, 2019, May 18, 2020 and May 18, 2021.

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 2018, as determined by the Issuer's Compensation Committee on March 11, 2019. On May 18, 2018, 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 3 equal installments on each of May 18, 2019, May 18, 2020 and May 18, 2021.

SEC source: 0001620533-19-000018 · wf-form4_155251109407480.xml · nonDerivative · entry 1

Comonte Tara · CIK 0001708832 · CHIEF FINANCIAL OFFICER

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 58,295

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 2018, as determined by the Issuer's Compensation Committee on March 11, 2019. On May 18, 2018, 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 3 equal installments on each of May 18, 2019, May 18, 2020 and May 18, 2021.

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 2018, as determined by the Issuer's Compensation Committee on March 11, 2019. On May 18, 2018, 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 3 equal installments on each of May 18, 2019, May 18, 2020 and May 18, 2021.

SEC source: 0001620533-19-000014 · wf-form4_155182129805100.xml · derivative · entry 9

Koff Zach · CIK 0001693743 · Chief Operating Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 57,000

Underlying: CLASS A COMMON STOCK · 2,500 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 106,000 shares of Class A Stock at $21 per share was granted to the Reporting Person on January 29, 2015. 21,200 options vested on January 29, 2016, 21,200 options vested on January 29, 2017, 21,200 options vested on January 29, 2018, 21,200 options vested on January 29, 2019, and 21,200 options vest on January 29, 2020, subject to the Reporting Person's continued service with the Issuer.

SEC source: 0001620533-19-000014 · wf-form4_155182129805100.xml · derivative · entry 8

Koff Zach · CIK 0001693743 · Chief Operating Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 59,500

Underlying: CLASS A COMMON STOCK · 2,500 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 106,000 shares of Class A Stock at $21 per share was granted to the Reporting Person on January 29, 2015. 21,200 options vested on January 29, 2016, 21,200 options vested on January 29, 2017, 21,200 options vested on January 29, 2018, 21,200 options vested on January 29, 2019, and 21,200 options vest on January 29, 2020, subject to the Reporting Person's continued service with the Issuer.

SEC source: 0001620533-19-000014 · wf-form4_155182129805100.xml · derivative · entry 7

Koff Zach · CIK 0001693743 · Chief Operating Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 62,000

Underlying: CLASS A COMMON STOCK · 5,000 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 106,000 shares of Class A Stock at $21 per share was granted to the Reporting Person on January 29, 2015. 21,200 options vested on January 29, 2016, 21,200 options vested on January 29, 2017, 21,200 options vested on January 29, 2018, 21,200 options vested on January 29, 2019, and 21,200 options vest on January 29, 2020, subject to the Reporting Person's continued service with the Issuer.

SEC source: 0001620533-19-000014 · wf-form4_155182129805100.xml · nonDerivative · entry 6

Koff Zach · CIK 0001693743 · Chief Operating Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,441

F4 · shares: Represents the sale of shares of Class A Stock of the Issuer that were obtained in a cashless exercise of Reporting Person's option to purchase 2,500 shares of Class A Stock.

SEC source: 0001620533-19-000014 · wf-form4_155182129805100.xml · nonDerivative · entry 5

Koff Zach · CIK 0001693743 · Chief Operating Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,941

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.

F3 · shares: Represents shares of Class A of the Issuer that were obtained upon the Reporting Person's cashless exercise of the option to purchase 2,500 shares of Class A Stock.

SEC source: 0001620533-19-000014 · wf-form4_155182129805100.xml · nonDerivative · entry 4

Koff Zach · CIK 0001693743 · Chief Operating Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,441

F4 · shares: Represents the sale of shares of Class A Stock of the Issuer that were obtained in a cashless exercise of Reporting Person's option to purchase 2,500 shares of Class A Stock.

SEC source: 0001620533-19-000014 · wf-form4_155182129805100.xml · nonDerivative · entry 3

Koff Zach · CIK 0001693743 · Chief Operating Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,941

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.

F3 · shares: Represents shares of Class A of the Issuer that were obtained upon the Reporting Person's cashless exercise of the option to purchase 2,500 shares of Class A Stock.

SEC source: 0001620533-19-000014 · wf-form4_155182129805100.xml · nonDerivative · entry 2

Koff Zach · CIK 0001693743 · Chief Operating Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,441

F2 · shares: Represents the sale of shares of Class A Stock of the Issuer that were obtained in a cashless exercise of Reporting Person's option to purchase 5,000 shares of Class A Stock.