<SEC-DOCUMENT>0001140361-16-058976.txt : 20160324
<SEC-HEADER>0001140361-16-058976.hdr.sgml : 20160324
<ACCEPTANCE-DATETIME>20160324181226
ACCESSION NUMBER:		0001140361-16-058976
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20160322
FILED AS OF DATE:		20160324
DATE AS OF CHANGE:		20160324

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Shake Shack Inc.
		CENTRAL INDEX KEY:			0001620533
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING & DRINKING PLACES [5810]
		IRS NUMBER:				471941186
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		24 UNION SQUARE EAST
		STREET 2:		5TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10003
		BUSINESS PHONE:		(646) 747-7200

	MAIL ADDRESS:	
		STREET 1:		24 UNION SQUARE EAST
		STREET 2:		5TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10003

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Loening George S
		CENTRAL INDEX KEY:			0001632169

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36823
		FILM NUMBER:		161528307

	MAIL ADDRESS:	
		STREET 1:		C/O SELECT EQUITY GROUP
		STREET 2:		380 LAFAYETTE STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10003

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SEG PARTNERS II L P
		CENTRAL INDEX KEY:			0001215218
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36823
		FILM NUMBER:		161528308

	BUSINESS ADDRESS:	
		STREET 1:		380 LAFAYETTE ST 6TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10003
		BUSINESS PHONE:		212-475-8335

	MAIL ADDRESS:	
		STREET 1:		380 LAFAYETTE STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10003

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SEG Partners Offshore Master Fund, Ltd.
		CENTRAL INDEX KEY:			0001632171
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36823
		FILM NUMBER:		161528309

	BUSINESS ADDRESS:	
		STREET 1:		C/O SELECT EQUITY GROUP
		STREET 2:		380 LAFAYETTE STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10003
		BUSINESS PHONE:		212-475-8335

	MAIL ADDRESS:	
		STREET 1:		C/O SELECT EQUITY GROUP
		STREET 2:		380 LAFAYETTE STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10003

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SEG PARTNERS L P
		CENTRAL INDEX KEY:			0001060793
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36823
		FILM NUMBER:		161528310

	BUSINESS ADDRESS:	
		STREET 1:		380 LAFAYETTE STREET
		STREET 2:		6TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10003
		BUSINESS PHONE:		212 475-8335

	MAIL ADDRESS:	
		STREET 1:		380 LAFAYETTE STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10003

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Select Equity Group, L.P.
		CENTRAL INDEX KEY:			0001592643
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36823
		FILM NUMBER:		161528311

	BUSINESS ADDRESS:	
		STREET 1:		380 LAFAYETTE STREET
		STREET 2:		6TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10003
		BUSINESS PHONE:		212 475-8335

	MAIL ADDRESS:	
		STREET 1:		380 LAFAYETTE STREET
		STREET 2:		6TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10003
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            <otherText>See Remarks</otherText>
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    <reportingOwner>
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            <rptOwnerName>SEG PARTNERS II L P</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O SELECT EQUITY GROUP</rptOwnerStreet1>
            <rptOwnerStreet2>380 LAFAYETTE STREET</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10003</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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    <reportingOwner>
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            <rptOwnerCik>0001632169</rptOwnerCik>
            <rptOwnerName>Loening George S</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O SELECT EQUITY GROUP</rptOwnerStreet1>
            <rptOwnerStreet2>380 LAFAYETTE STREET</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10003</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
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            <securityTitle>
                <value>Class A Common Stock, par value $0.001 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2016-03-22</value>
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            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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                <transactionShares>
                    <value>4470</value>
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                <transactionPricePerShare>
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                <transactionAcquiredDisposedCode>
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                    <value>See Footnotes</value>
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                    <footnoteId id="F2"/>
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                <value>Class A Common Stock, par value $0.001 per share</value>
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            <transactionDate>
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            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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                    <value>28115</value>
                </transactionShares>
                <transactionPricePerShare>
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                <transactionAcquiredDisposedCode>
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                    <value>1711854</value>
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                    <value>I</value>
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                    <value>See Footnotes</value>
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                    <footnoteId id="F3"/>
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        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class A Common Stock, par value $0.001 per share</value>
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            <transactionDate>
                <value>2016-03-22</value>
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            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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                    <value>17415</value>
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                <transactionPricePerShare>
                    <value>33.70</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
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                    <value>1058811</value>
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                    <value>See Footnotes</value>
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                    <footnoteId id="F4"/>
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                <value>Class A Common Stock, par value $0.001 per share</value>
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                    <footnoteId id="F2"/>
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    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">See Exhibit 99.1.</footnote>
        <footnote id="F2">See Exhibit 99.1.</footnote>
        <footnote id="F3">See Exhibit 99.1.</footnote>
        <footnote id="F4">See Exhibit 99.1.</footnote>
    </footnotes>

    <remarks>List of Exhibits

Exhibit 99.1 - Explanation of Responses
Exhibit 99.2 - Joint Filers' Names and Addresses
Exhibit 99.3 - Joint Filers' Signatures

Solely for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, Select Equity Group, L.P. (&quot;Select Equity Group&quot;), the SEG Funds (as defined below) and George S. Loening may be deemed to be directors-by-designation by virtue of their right to designate a member of the board of directors of the Issuer.  Select Equity Group, the SEG Funds and George S. Loening have designated Evan C. Guillemin as a member of the board of directors of Shake Shack Inc. (&quot;Shake Shack&quot;).</remarks>

    <ownerSignature>
        <signatureName>SELECT EQUITY GROUP, L.P., By:  Select Equity GP, LLC, its general partner, By:  /s/ George Loening</signatureName>
        <signatureDate>2016-03-24</signatureDate>
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<DESCRIPTION>EXPLANATION OF RESPONSES
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">Explanation of Responses</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">This Form 4 is being filed on behalf of Select Equity Group, SEG Partners L.P. (&#8220;SEG Partners&#8221;), SEG Partners II, L.P. (&#8220;SEG Partners II&#8221;), SEG Partners Offshore Master Fund, Ltd. (&#8220;SEG Partners Offshore&#8221; together with SEG Partners and SEG Partners II, the &#8220;SEG Funds&#8221;) and George S. Loening.&#160; Select Equity Group serves as the investment advisor to the SEG Funds, and Mr. Loening is the majority owner of Select Equity Group and managing member of the general partner of Select Equity Group.&#160; Each of Select Equity Group and George S. Loening may be deemed to indirectly beneficially own shares held directly by the SEG Funds and each disclaims beneficial ownership of all such shares except to the extent of any indirect pecuniary interest therein.&#160; No SEG Fund has a pecuniary interest in any securities held directly by any other SEG Fund.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Class A Common Stock held directly by the SEG Partners.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Class A Common Stock held directly by SEG Partners Offshore.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Class A Common Stock held directly by SEG Partners II.</div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>s16714139b.htm
<DESCRIPTION>JOINT FILERS' NAMES AND ADDRESSES
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; MARGIN-LEFT: 18pt; LINE-HEIGHT: 13.7pt">Joint Filers&#8217; Names and Addresses</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">SEG Partners, L.P.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">SEG Partners Offshore Master Fund, Ltd.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">(3)</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">SEG Partners II, L.P.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">George S. Loening</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">The business address for all of the above reporting persons is:</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">c/o Select Equity Group</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">380 Lafayette Street</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">New York, N.Y. 10003</div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>4
<FILENAME>s16714139c.htm
<DESCRIPTION>JOINT FILERS' SIGNATURES
<TEXT>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">Joint Filers&#8217; Signatures</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 10.25pt">SEG PARTNERS, L.P.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt">By:&#160; SEG Partners Holdings, LLC, its general partner</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt">By:<u>&#160; /s/ George S. Loening</u></div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 10.25pt">Date: <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>March 24, 2016</u></font></div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 10.25pt">SEG PARTNERS II, L.P.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt">By:&#160; SEG Partners II Holdings, LLC, its general partner</div>
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<td style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; VERTICAL-ALIGN: top; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; WIDTH: 28.11%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt">By:<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>&#160; /s/ George S. Loening</u></font></div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 10.25pt">Date: <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>March 24, 2016</u></font></div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 10.25pt">SEG PARTNERS OFFSHORE MASTER FUND, LTD.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt">By:<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>&#160; /s/ George S. Loening</u></font>&#160;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 10.25pt">Date: <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>March 24, 2016</u></font></div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 10.25pt">GEORGE S. LOENING</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt">By:<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>&#160; /s/ George S. Loening</u></font></div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; LINE-HEIGHT: 10.25pt">Date: <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; FONT-WEIGHT: normal; FONT-STYLE: normal"><u>March 24, 2016</u></font></div>
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