SHAKE SHACK INC. (NYSE:SHAK) Files An 8-K Other EventsItem 8.01Other Events.
On November 17, 2017, Daniel Meyer, Chairman of the Board of Directors of Shake Shack Inc. (the “Company”), and, on December 4, 2017, Randall Garutti, Chief Executive Officer and a director of the Company, entered into stock trading plans under substantially similar terms as their previous trading plans to sell shares of the Company’s Class A Common Stock, par value $0.001 per share (the “Common Stock”), as part of their personal long-term financial planning. Mr. Meyer’s previous trading plan was dated August 16, 2016 and modified on March 7, 2017, and Mr. Garutti’s previous trading plan was dated August 23, 2016 and modified on March 6, 2017.
The trading plans are designed to comply with Rule 10b5-1 of the Securities and Exchange Act of 1934, as amended, and the Company’s insider trading compliance policy.
Under Mr. Meyer’s trading plan, he may sell, beginning on December 18, 2017, up to 360,000 shares of Common stockthrough May 31, 2018, which represent approximately 6.4% of his equity holdings (excluding unvested equity awards) in the Company. Under Mr. Garutti’s trading plan, he may sell, beginning on January 25, 2018, up to 120,000 shares of Common Stockthrough December 31, 2018, which represent approximately12.2% of his equity holdings (excluding unvested equity awards) in the Company.
Sales of shares of Common Stock under the trading plans are subject to certain minimum price conditions and maximum sale volume limitations.
About SHAKE SHACK INC. (NYSE:SHAK)
Shake Shack Inc. operates roadside burger stands. The Company serves an American menu of burgers, hot dogs, crispy chicken, frozen custard, crinkle cut fries, shakes, beer and wine, among others. The Company has approximately 84 Shacks in over 10 countries and approximately 45 cities. The Company’s signature items are its all-natural, hormone and antibiotic-free burgers, hot dogs, crispy chicken, crinkle cut fries, shakes and frozen custard. Its menu focuses on food and beverages, crafted from a range of classic American foods. The Company’s domestic menu includes a range of signature items, such as the ShackBurger, SmokeShack, Shack-cago Dog, ‘Shroom Burger, seasonal frozen custard, hand-spun shakes, concretes, ShackMeister Ale, and Shack Red and Shack White wines. Its burgers are made with a whole-muscle blend of all-natural, hormone and antibiotic-free Angus beef, ground fresh daily, cooked to order and served on a non-genetically modified organism (GMO) potato bun.