SHAKE SHACK INC. (NYSE:SHAK) Files An 8-K Other EventsItem 8.01Other Events.
On May 24, 2018, Randy Garutti, Chief Executive Officer and a director of Shake Shack Inc. (the “Company”), entered into a stock trading plan, under substantially similar terms as his 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 his personal long-term financial planning. Mr. Garutti’s previous trading plan was dated December 4, 2017.
The trading plan is 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. Garutti's trading plan, as of June 25, 2018, he may sell up to 60,000 shares of Common Stockthrough December 31, 2018, which represents approximately 6.1% 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.