Flug Jeffrey

SEC source: 0001620533-17-000135 · wf-form4_150404366756517.xml · derivative · entry 5

Flug Jeffrey · CIK 0001396917 · Director · 10% owner

Flug 2015 GS Trust U/A/D 12/29/15 · CIK 0001706704 · 10% owner

Gulf Five Fiduciary Management Corp · CIK 0001706756 · 10% owner

FLUG SHERYL H · CIK 0001633964 · 10% owner

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

10b5-1 filing: Not disclosed

Ownership: Indirect · BY TRUST

Disclosed balance after: 622,574

Underlying: CLASS A COMMON STOCK · 100,000 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.

F7 · 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

F7 · 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

F7 · 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

F8 · ownership.nature: Represents LLC Interests held by the Trust. Each Reporting Person disclaims beneficial ownership of such interests except to the extent of such Reporting Person's pecuniary interest therein.

SEC source: 0001620533-17-000135 · wf-form4_150404366756517.xml · nonDerivative · entry 3

Flug Jeffrey · CIK 0001396917 · Director · 10% owner

Flug 2015 GS Trust U/A/D 12/29/15 · CIK 0001706704 · 10% owner

Gulf Five Fiduciary Management Corp · CIK 0001706756 · 10% owner

FLUG SHERYL H · CIK 0001633964 · 10% owner

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

10b5-1 filing: Not disclosed

Ownership: Indirect · BY TRUST

Disclosed balance after: 622,574

F5 · 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.

F6 · ownership.nature: Represents shares of Class B Common Stock held by the Trust. Each Reporting Person disclaims beneficial ownership of such securities except to the extent of such Reporting Person's pecuniary interest therein.

SEC source: 0001620533-17-000135 · wf-form4_150404366756517.xml · nonDerivative · entry 1

Flug Jeffrey · CIK 0001396917 · Director · 10% owner

Flug 2015 GS Trust U/A/D 12/29/15 · CIK 0001706704 · 10% owner

Gulf Five Fiduciary Management Corp · CIK 0001706756 · 10% owner

FLUG SHERYL H · CIK 0001633964 · 10% owner

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

10b5-1 filing: Not disclosed

Ownership: Indirect · BY TRUST

Disclosed balance after: 100,000

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").

F2 · ownership.nature: Represents shares of Class A Stock held by Flug 2015 GS Trust U/A/D 12/29/15 (the "Trust"). Gulf Five Fiduciary Management Corp is the trustee of the Trust. Sheryl Flug, the wife of Jeffrey Flug, is the President of Gulf Five Fiduciary Management Corp. Each Reporting Person disclaims beneficial ownership of such securities except to the extent of such Reporting Person's pecuniary interest therein.

SEC source: 0001620533-17-000116 · wf-form4_149747607906181.xml · nonDerivative · entry 1

Flug Jeffrey · CIK 0001396917 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,415

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 June 12, 2017, 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 June 12, 2018, subject to the Reporting Person's continued service with the Issuer.

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. On June 12, 2017, 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 June 12, 2018, subject to the Reporting Person's continued service with the Issuer.

SEC source: 0001620533-17-000092 · wf-form4_149575026520106.xml · derivative · entry 3

Flug Jeffrey · CIK 0001396917 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: CLASS A COMMON STOCK · 3,405 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.

F5 · derivative.exercise_date: An option to purchase 3,405 shares of Class A Stock at $34.62 was granted to the Reporting Person on May 19, 2016. All 3,405 options vested on May 19, 2017.

F5 · balance_after: An option to purchase 3,405 shares of Class A Stock at $34.62 was granted to the Reporting Person on May 19, 2016. All 3,405 options vested on May 19, 2017.

SEC source: 0001620533-17-000092 · wf-form4_149575026520106.xml · nonDerivative · entry 2

Flug Jeffrey · CIK 0001396917 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,324

F2 · shares: Represents the sale of shares of Class A Stock of the Issuer that were disposed of through a "sell to cover" exercise of Reporting Person's option to purchase 3,405 shares of Class A Stock.

F3 · price: The transaction was executed in multiple trades at prices ranging from $37.4000 to $37.4900. The price reported above reflects the weighted average sales price.

F4 · 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.

SEC source: 0001620533-17-000092 · wf-form4_149575026520106.xml · nonDerivative · entry 1

Flug Jeffrey · CIK 0001396917 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,645

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 the Reporting Person's exercise of the option to purchase 3,405 shares of Class A Stock.

SEC source: 0001620533-17-000088 · wf-form4_149548733393506.xml · nonDerivative · entry 1

Flug Jeffrey · CIK 0001396917 · Director · 10% owner

Flug 2015 GS Trust U/A/D 12/29/15 · CIK 0001706704 · 10% owner

Gulf Five Fiduciary Management Corp · CIK 0001706756 · 10% owner

FLUG SHERYL H · CIK 0001633964 · 10% owner

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

10b5-1 filing: Not disclosed

Ownership: Indirect · BY TRUST

Disclosed balance after: 0

F1 · price: The transaction was executed in multiple trades at prices ranging from $37.8000 to $37.9800. The price reported above reflects the weighted average sales price.

F2 · price: Each Reporting Person hereby undertakes to provide upon request to the SEC staff, Shake Shack Inc. (the "Issuer") or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

F3 · ownership.nature: Represents shares of Class A Common Stock ("Class A Stock") of the Issuer held by the Flug 2015 GS Trust U/A/D 12/29/15 (the "Trust"). Gulf Five Fiduciary Management Corp is the trustee of the Trust. Sheryl Flug, the wife of Jeffrey Flug, is the President of Gulf Five Fiduciary Management Corp. Each Reporting Person disclaims beneficial ownership of such securities except to the extent of such Reporting Person's pecuniary interest there.

SEC source: 0001620533-17-000084 · wf-form4_149514442152343.xml · nonDerivative · entry 3

Flug Jeffrey · CIK 0001396917 · Director · 10% owner

Flug 2015 GS Trust U/A/D 12/29/15 · CIK 0001706704 · 10% owner

Gulf Five Fiduciary Management Corp · CIK 0001706756 · 10% owner

FLUG SHERYL H · CIK 0001633964 · 10% owner

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

10b5-1 filing: Not disclosed

Ownership: Indirect · BY TRUST

Disclosed balance after: 9,000

F2 · price: Each Reporting Person hereby undertakes to provide upon request to the SEC staff, Shake Shack Inc. (the "Issuer") or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

F5 · price: The transaction was executed in multiple trades at prices ranging from $37.7500 to $38.0800. The price reported above reflects the weighted average sales price.

F3 · ownership.nature: Represents shares of Class A Common Stock ("Class A Stock) of the Issuer held by the Flug 2015 GS Trust U/A/D 12/29/15 (the "Trust"). Gulf Five Fiduciary Management Corp. is the trustee of the Trust. Sheryl Flug, the wife of Jeffrey Flug, is the President of Gulf Five Fiduciary Management Corp. Each Reporting Person disclaims beneficial ownership of such securities except to the extent of such Reporting Person's pecuniary interest therein.

SEC source: 0001620533-17-000084 · wf-form4_149514442152343.xml · nonDerivative · entry 2

Flug Jeffrey · CIK 0001396917 · Director · 10% owner

Flug 2015 GS Trust U/A/D 12/29/15 · CIK 0001706704 · 10% owner

Gulf Five Fiduciary Management Corp · CIK 0001706756 · 10% owner

FLUG SHERYL H · CIK 0001633964 · 10% owner

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

10b5-1 filing: Not disclosed

Ownership: Indirect · BY TRUST

Disclosed balance after: 19,000

F2 · price: Each Reporting Person hereby undertakes to provide upon request to the SEC staff, Shake Shack Inc. (the "Issuer") or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

F4 · price: The transaction was executed in multiple trades at prices ranging from $36.2600 to $36.8100. The price reported above reflects the weighted average sales price.

F3 · ownership.nature: Represents shares of Class A Common Stock ("Class A Stock) of the Issuer held by the Flug 2015 GS Trust U/A/D 12/29/15 (the "Trust"). Gulf Five Fiduciary Management Corp. is the trustee of the Trust. Sheryl Flug, the wife of Jeffrey Flug, is the President of Gulf Five Fiduciary Management Corp. Each Reporting Person disclaims beneficial ownership of such securities except to the extent of such Reporting Person's pecuniary interest therein.

SEC source: 0001620533-17-000084 · wf-form4_149514442152343.xml · nonDerivative · entry 1

Flug Jeffrey · CIK 0001396917 · Director · 10% owner

Flug 2015 GS Trust U/A/D 12/29/15 · CIK 0001706704 · 10% owner

Gulf Five Fiduciary Management Corp · CIK 0001706756 · 10% owner

FLUG SHERYL H · CIK 0001633964 · 10% owner

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

10b5-1 filing: Not disclosed

Ownership: Indirect · BY TRUST

Disclosed balance after: 39,000

F1 · price: The transaction was executed in multiple trades at prices ranging from $35.9000 to $36.1850. The price reported above reflects the weighted average sales price.

F2 · price: Each Reporting Person hereby undertakes to provide upon request to the SEC staff, Shake Shack Inc. (the "Issuer") or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

F3 · ownership.nature: Represents shares of Class A Common Stock ("Class A Stock) of the Issuer held by the Flug 2015 GS Trust U/A/D 12/29/15 (the "Trust"). Gulf Five Fiduciary Management Corp. is the trustee of the Trust. Sheryl Flug, the wife of Jeffrey Flug, is the President of Gulf Five Fiduciary Management Corp. Each Reporting Person disclaims beneficial ownership of such securities except to the extent of such Reporting Person's pecuniary interest therein.

SEC source: 0001620533-17-000082 · wf-form4_149489255133975.xml · nonDerivative · entry 2

Flug Jeffrey · CIK 0001396917 · Director · 10% owner

Flug 2015 GS Trust U/A/D 12/29/15 · CIK 0001706704 · 10% owner

Gulf Five Fiduciary Management Corp · CIK 0001706756 · 10% owner

FLUG SHERYL H · CIK 0001633964 · 10% owner

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

10b5-1 filing: Not disclosed

Ownership: Indirect · BY TRUST

Disclosed balance after: 49,000

F2 · price: Each Reporting Person hereby undertakes to provide upon request to the SEC staff, Shake Shack Inc. (the "Issuer") or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.

F4 · price: The transaction was executed in multiple trades at prices ranging from $36.5000 to $36.7000. The price reported above reflects the weighted average sales price.

F3 · ownership.nature: Represents shares of Class A Common Stock ("Class A Stock") of the Issuer held by the Flug 2015 GS Trust U/A/D 12/29/15 (the "Trust"). Gulf Five Fiduciary Management Corp. is the trustee of the Trust. Sheryl Flug, the wife of Jeffrey Flug, is the President of Gulf Five Fiduciary Management Corp. Each Reporting Person disclaims beneficial ownership of such securities except to the extent of such Reporting Person's pecuniary interest therein.

SEC source: 0001620533-17-000082 · wf-form4_149489255133975.xml · nonDerivative · entry 1

Flug Jeffrey · CIK 0001396917 · Director · 10% owner

Flug 2015 GS Trust U/A/D 12/29/15 · CIK 0001706704 · 10% owner

Gulf Five Fiduciary Management Corp · CIK 0001706756 · 10% owner

FLUG SHERYL H · CIK 0001633964 · 10% owner

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

10b5-1 filing: Not disclosed

Ownership: Indirect · BY TRUST

Disclosed balance after: 75,000

F1 · price: The transaction was executed in multiple trades at prices ranging from $36.5000 to $36.9200. The price reported above reflects the weighted average sales price.

F2 · price: Each Reporting Person hereby undertakes to provide upon request to the SEC staff, Shake Shack Inc. (the "Issuer") or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.

F3 · ownership.nature: Represents shares of Class A Common Stock ("Class A Stock") of the Issuer held by the Flug 2015 GS Trust U/A/D 12/29/15 (the "Trust"). Gulf Five Fiduciary Management Corp. is the trustee of the Trust. Sheryl Flug, the wife of Jeffrey Flug, is the President of Gulf Five Fiduciary Management Corp. Each Reporting Person disclaims beneficial ownership of such securities except to the extent of such Reporting Person's pecuniary interest therein.

SEC source: 0001620533-17-000076 · wf-form4_149445844014992.xml · nonDerivative · entry 3

Flug Jeffrey · CIK 0001396917 · Director · 10% owner

FLUG 2012 GS TRUST U/A/D 9/4/12 · CIK 0001633805 · 10% owner

FLUG KENNETH · CIK 0001633966 · 10% owner

FLUG SHERYL H · CIK 0001633964 · 10% owner

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

10b5-1 filing: Not disclosed

Ownership: Indirect · BY TRUST

Disclosed balance after: 100,000

F2 · 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 $36.2600 to $36.8400. The price reported above reflects the weighted average sales price.

F3 · ownership.nature: Represents shares of Class A Common Stock ("Class A Stock") of the Issuer held by the Flug 2012 GS Trust U/A/D 9/4/12 (the "Trust"). Kenneth Flug, the brother of Jeffrey Flug, and Sheryl Flug, the wife of Jeffrey Flug, are trustees of the Trust. Each Reporting Person disclaims beneficial ownership of such securities except to the extent of such Reporting Person's pecuniary interest therein.

SEC source: 0001620533-17-000076 · wf-form4_149445844014992.xml · nonDerivative · entry 2

Flug Jeffrey · CIK 0001396917 · Director · 10% owner

FLUG 2012 GS TRUST U/A/D 9/4/12 · CIK 0001633805 · 10% owner

FLUG KENNETH · CIK 0001633966 · 10% owner

FLUG SHERYL H · CIK 0001633964 · 10% owner

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

10b5-1 filing: Not disclosed

Ownership: Indirect · BY TRUST

Disclosed balance after: 125,000

F2 · 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 $36.1100 to $36.7900. The price reported above reflects the weighted average sales price.

F3 · ownership.nature: Represents shares of Class A Common Stock ("Class A Stock") of the Issuer held by the Flug 2012 GS Trust U/A/D 9/4/12 (the "Trust"). Kenneth Flug, the brother of Jeffrey Flug, and Sheryl Flug, the wife of Jeffrey Flug, are trustees of the Trust. Each Reporting Person disclaims beneficial ownership of such securities except to the extent of such Reporting Person's pecuniary interest therein.

SEC source: 0001620533-17-000076 · wf-form4_149445844014992.xml · nonDerivative · entry 1

Flug Jeffrey · CIK 0001396917 · Director · 10% owner

FLUG 2012 GS TRUST U/A/D 9/4/12 · CIK 0001633805 · 10% owner

FLUG KENNETH · CIK 0001633966 · 10% owner

FLUG SHERYL H · CIK 0001633964 · 10% owner

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

10b5-1 filing: Not disclosed

Ownership: Indirect · BY TRUST

Disclosed balance after: 150,000

F1 · price: The transaction was executed in multiple trades as prices ranging from 35.6000 to 36.1200. The price reported above reflects their average sales price.

F2 · 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.

F3 · ownership.nature: Represents shares of Class A Common Stock ("Class A Stock") of the Issuer held by the Flug 2012 GS Trust U/A/D 9/4/12 (the "Trust"). Kenneth Flug, the brother of Jeffrey Flug, and Sheryl Flug, the wife of Jeffrey Flug, are trustees of the Trust. Each Reporting Person disclaims beneficial ownership of such securities except to the extent of such Reporting Person's pecuniary interest therein.

SEC source: 0001620533-16-000301 · wf-form4_148184238058149.xml · nonDerivative · entry 1

Flug Jeffrey · CIK 0001396917 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 18,240

F1 · price: The transaction was executed in multiple trades at prices ranging from $37.5000 to $38.2500. The price reported above reflects the weighted average sales price.

F2 · 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 · balance_after: Represents Class A Stock of the Issuer held by the Reporting Person directly.

SEC source: 0000899243-16-035123 · doc4.xml · nonDerivative · entry 1

Flug Jeffrey · CIK 0001396917 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · Held by various related trusts

Disclosed balance after: 172,782

SEC source: 0001620533-16-000285 · wf-form4_147924980811574.xml · nonDerivative · entry 2

Flug Jeffrey · CIK 0001396917 · Director · 10% owner

GULF FIVE LLC · CIK 0001633992 · 10% owner

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

10b5-1 filing: Not disclosed

Ownership: Indirect · BY LLC

Disclosed balance after: 0

F2 · price: The Reporting Person hereby undertakes to provide upon request to the SEC staff, Shake Shack Inc. (the "Issuer") or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.

F4 · price: The transaction was executed in multiple trades at prices ranging from $38.3720 to $38.4600. The price reported above reflects the weighted average sales price.

F3 · ownership.nature: Represents shares of Class A common stock ("Class A Stock") of the Issuer held by Gulf Five LLC. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

SEC source: 0001620533-16-000285 · wf-form4_147924980811574.xml · nonDerivative · entry 1

Flug Jeffrey · CIK 0001396917 · Director · 10% owner

GULF FIVE LLC · CIK 0001633992 · 10% owner

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

10b5-1 filing: Not disclosed

Ownership: Indirect · BY LLC

Disclosed balance after: 15,391

F1 · price: The transaction was executed in multiple trades at prices ranging from $37.9000 to $38.0800. The price reported above reflects the weighted average sales price.

F2 · price: The Reporting Person hereby undertakes to provide upon request to the SEC staff, Shake Shack Inc. (the "Issuer") or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.

F3 · ownership.nature: Represents shares of Class A common stock ("Class A Stock") of the Issuer held by Gulf Five LLC. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

SEC source: 0001620533-16-000268 · wf-form4_147397511636198.xml · nonDerivative · entry 1

Flug Jeffrey · CIK 0001396917 · Director · 10% owner

GULF FIVE LLC · CIK 0001633992 · 10% owner

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

10b5-1 filing: Not disclosed

Ownership: Indirect · BY LLC

Disclosed balance after: 38,191

F1 · price: The transaction was executed in multiple trades at prices ranging from $34.5000 to $34.5600. The price reported above reflects the weighted average sales price.

F2 · price: The Reporting Person hereby undertakes to provide upon request to the SEC Staff, Shake Shack Inc. (the "Issuer") or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.

F3 · ownership.nature: Represents shares of Class A common stock ("Class A Stock") of the Issuer held by Gulf Five LLC. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

SEC source: 0001620533-16-000266 · wf-form4_147388638676486.xml · nonDerivative · entry 1

Flug Jeffrey · CIK 0001396917 · Director · 10% owner

GULF FIVE LLC · CIK 0001633992 · 10% owner

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

10b5-1 filing: Not disclosed

Ownership: Indirect · BY LLC

Disclosed balance after: 63,191

F1 · price: The transaction was executed in multiple trades at prices ranging from $35.5001 to $35.6100. The price reported above reflects the weighted average sales price.

F2 · price: The Reporting Person hereby undertakes to provide upon request to the SEC Staff, Shake Shack Inc. (the "Issuer") or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.

F3 · ownership.nature: Represents shares of Class A common stock ("Class A Stock") of the Issuer held by Gulf Five LLC. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

SEC source: 0001620533-16-000264 · wf-form4_147337323775610.xml · nonDerivative · entry 4

Flug Jeffrey · CIK 0001396917 · Director · 10% owner

GULF FIVE LLC · CIK 0001633992 · 10% owner

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

10b5-1 filing: Not disclosed

Ownership: Indirect · BY LLC

Disclosed balance after: 64,091

F2 · price: The Reporting Person hereby undertakes to provide upon request to the SEC staff, Shake Shack Inc. (the "Issuer") or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.

F6 · price: The transaction was executed in multiple trades at prices ranging from $36.2500 to $36.5600. The price reported above reflects the weighted average sales price.

F3 · ownership.nature: Represents shares of Class A common stock ("Class A Stock") of the Issuer held by Gulf Five LLC. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

SEC source: 0001620533-16-000264 · wf-form4_147337323775610.xml · nonDerivative · entry 3

Flug Jeffrey · CIK 0001396917 · Director · 10% owner

GULF FIVE LLC · CIK 0001633992 · 10% owner

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

10b5-1 filing: Not disclosed

Ownership: Indirect · BY LLC

Disclosed balance after: 73,612

F2 · price: The Reporting Person hereby undertakes to provide upon request to the SEC staff, Shake Shack Inc. (the "Issuer") or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.

F5 · price: The transaction was executed in multiple trades at prices ranging from $36.9900 to $37.1000. The price reported above reflects the weighted average sales price.

F3 · ownership.nature: Represents shares of Class A common stock ("Class A Stock") of the Issuer held by Gulf Five LLC. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

SEC source: 0001620533-16-000264 · wf-form4_147337323775610.xml · nonDerivative · entry 2

Flug Jeffrey · CIK 0001396917 · Director · 10% owner

GULF FIVE LLC · CIK 0001633992 · 10% owner

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

10b5-1 filing: Not disclosed

Ownership: Indirect · BY LLC

Disclosed balance after: 74,812

F2 · price: The Reporting Person hereby undertakes to provide upon request to the SEC staff, Shake Shack Inc. (the "Issuer") or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.

F4 · price: The transaction was executed in multiple trades at prices ranging from $35.9900 to $36.9800. The price reported above reflects the weighted average sales price.

F3 · ownership.nature: Represents shares of Class A common stock ("Class A Stock") of the Issuer held by Gulf Five LLC. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

SEC source: 0001620533-16-000264 · wf-form4_147337323775610.xml · nonDerivative · entry 1

Flug Jeffrey · CIK 0001396917 · Director · 10% owner

GULF FIVE LLC · CIK 0001633992 · 10% owner

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

10b5-1 filing: Not disclosed

Ownership: Indirect · BY LLC

Disclosed balance after: 98,612

F1 · price: The transaction was executed in multiple trades at prices ranging from $35.5000 to $36.3700. The price reported above reflects the weighted average sales price.

F2 · price: The Reporting Person hereby undertakes to provide upon request to the SEC staff, Shake Shack Inc. (the "Issuer") or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.

F3 · ownership.nature: Represents shares of Class A common stock ("Class A Stock") of the Issuer held by Gulf Five LLC. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

SEC source: 0001620533-16-000262 · wf-form4_147319438419148.xml · nonDerivative · entry 1

Flug Jeffrey · CIK 0001396917 · Director · 10% owner

GULF FIVE LLC · CIK 0001633992 · 10% owner

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

10b5-1 filing: Not disclosed

Ownership: Indirect · BY LLC

Disclosed balance after: 123,612

F1 · price: The transaction was executed in multiple trades at prices ranging from $35.5500 to $35.7000. The price reported above reflects the weighted average sales price.

F2 · price: The Reporting Person hereby undertakes to provide upon request to the SEC staff, Shake Shack Inc. (the "Issuer") or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.

F3 · ownership.nature: Represents shares of Class A common stock ("Class A Stock") of the Issuer held by Gulf Five LLC. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.