<SEC-DOCUMENT>0001144204-19-041152.txt : 20190822
<SEC-HEADER>0001144204-19-041152.hdr.sgml : 20190822
<ACCEPTANCE-DATETIME>20190822162754
ACCESSION NUMBER:		0001144204-19-041152
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		5
FILED AS OF DATE:		20190822
DATE AS OF CHANGE:		20190822
GROUP MEMBERS:		DANIEL H. MEYER 2012 GIFT TRUST U/A/D 10/31/12

SUBJECT COMPANY:	

	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

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-88605
		FILM NUMBER:		191046365

	BUSINESS ADDRESS:	
		STREET 1:		225 VARICK STREET
		STREET 2:		SUITE 301
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10014
		BUSINESS PHONE:		(646) 747-7200

	MAIL ADDRESS:	
		STREET 1:		225 VARICK STREET
		STREET 2:		SUITE 301
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10014

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Meyer Daniel Harris
		CENTRAL INDEX KEY:			0001463932

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	MAIL ADDRESS:	
		STREET 1:		24 UNION SQUARE EAST
		STREET 2:		SIXTH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10003
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>tv528168_sc13da.htm
<DESCRIPTION>SC 13D/A
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>SCHEDULE
13D</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Under the Securities Exchange Act of
1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Amendment No. 7)*+</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 16pt"><B>Shake
Shack Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Name of Issuer)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Class A Common Stock, $0.001 par value
per share</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Title of Class of Securities)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>819047 101</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(CUSIP Number)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Daniel H. Meyer</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>c/o Shake Shack Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>225 Varick Street</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Suite 301</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>New York, NY 10014</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(646) 747-7200</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Name, Address and Telephone Number of Person
Authorized to</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Receive Notices and Communications)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>July 1, 2019</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Date of Event which Requires Filing of
this Statement)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If the filing person has previously filed
a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because
of &sect;&sect;240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. <FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Note</B>: Schedules filed in paper format
shall include a signed original and five copies of the schedule, including all exhibits. See &sect;240.13d-7 for other parties
to whom copies are to be sent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">*&nbsp;&nbsp;The remainder of this cover
page shall be filled out for a reporting person&rsquo;s initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The information required on the remainder
of this cover page shall not be deemed to be &ldquo;filed&rdquo; for the purpose of Section 18 of the Securities Exchange Act of
1934 (&ldquo;Act&rdquo;) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions
of the Act (however, see the Notes).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">+ Represents (i) Amendment No. 7 to the
Schedule 13D filed by Daniel H. Meyer and (ii) Amendment No. 5 to the Schedule 13D filed by Daniel H. Meyer 2012 Gift Trust U/A/D
10/31/12</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; font-size: 10pt"><B>CUSIP No. 819047 101</B></TD>
    <TD STYLE="width: 34%; font-size: 10pt; text-align: center"><B>Schedule 13D/A</B></TD>
    <TD STYLE="width: 33%; font-size: 10pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; text-align: center; border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">1</TD>
    <TD STYLE="width: 94%; border-bottom: Black 1pt solid; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">Names of Reporting Persons.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">Daniel H. Meyer<SUP>(1)</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">2</TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">Check the Appropriate Box if a Member of a Group</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">(a)&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">(b)&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&thorn;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">3</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">SEC Use Only</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">4</TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">Source of Funds</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">PF</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt"><B>5</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt"><FONT STYLE="font-family: Wingdings">&uml;</Font></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt"><B>6</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">Citizenship or Place of Organization</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">United States of America</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD ROWSPAN="8" STYLE="width: 22%; border: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Number of Shares</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Beneficially Owned by</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Each Reporting</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Person With:</P></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: top; width: 6%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><B>7</B></TD>
    <TD STYLE="vertical-align: top; width: 72%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">Sole Voting Power</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">1,439,937</P></TD></TR>
<TR>
    <TD ROWSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><B>8</B></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">Shared Voting Power</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">3,127,112</P></TD></TR>
<TR>
    <TD ROWSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><B>9</B></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">Sole Dispositive Power</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">1,439,937</P></TD></TR>
<TR>
    <TD ROWSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><B>10</B></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">Shared Dispositive Power</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">3,127,112</P></TD></TR>
</TABLE>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD ROWSPAN="2" STYLE="vertical-align: top; width: 6%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 5.4pt; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><B>11</B></TD>
    <TD STYLE="vertical-align: bottom; width: 94%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">Aggregate Amount Beneficially Owned by Each Reporting Person</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">4,567,049</P></TD></TR>
<TR>
    <TD ROWSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 5.4pt; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><B>12</B></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">Check if the Aggregate Amount in Row (11) Excludes Certain Securities</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Wingdings"></FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT></P></TD></TR>
<TR>
    <TD ROWSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 5.4pt; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><B>13</B></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">Percent of Class Represented by Amount in Row (11)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">14.08%</P></TD></TR>
<TR>
    <TD ROWSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 5.4pt; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><B>14</B></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">Type of Reporting Person</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">IN</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(1)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Includes securities
that are held by the Daniel H. Meyer Investment Trust dated 5/15/92, of which Mr. Meyer serves as the grantor, trustee and beneficiary.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 33%"><B>CUSIP No. 819047 101</B></TD>
    <TD STYLE="font-size: 10pt; width: 34%; text-align: center"><B>Schedule 13D/A</B></TD>
    <TD STYLE="font-size: 10pt; width: 33%">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; text-align: center; border-left: Black 1pt solid; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">1</TD>
    <TD STYLE="width: 94%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">Names of Reporting Persons.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">Daniel H. Meyer 2012 Gift Trust U/A/D 10/31/12<SUP>(2) </SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">2</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">Check the Appropriate Box if a Member of a Group</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">(a)&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">(b)&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&thorn;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">3</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">SEC Use Only</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">4</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">Source of Funds</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">OO (Cash from Trust)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt"><B>5</B></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt"><B>6</B></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">Citizenship or Place of Organization</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid; border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">Illinois</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD ROWSPAN="8" STYLE="width: 22%; border: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Number of Shares</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Beneficially Owned by</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Each Reporting</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Person With:</P></TD>
    <TD ROWSPAN="2" STYLE="vertical-align: top; width: 6%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><B>7</B></TD>
    <TD STYLE="vertical-align: top; width: 72%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">Sole Voting Power</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">&mdash;</P></TD></TR>
<TR>
    <TD ROWSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><B>8</B></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">Shared Voting Power</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">3,127,112</P></TD></TR>
<TR>
    <TD ROWSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><B>9</B></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">Sole Dispositive Power</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">&mdash;</P></TD></TR>
<TR>
    <TD ROWSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><B>10</B></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">Shared Dispositive Power</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">3,127,112</P></TD></TR>
</TABLE>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD ROWSPAN="2" STYLE="vertical-align: top; width: 6%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 5.4pt; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><B>11</B></TD>
    <TD STYLE="vertical-align: bottom; width: 94%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">Aggregate Amount Beneficially Owned by Each Reporting Person</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">3,127,112</P></TD></TR>
<TR>
    <TD ROWSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 5.4pt; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><B>12</B></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">Check if the Aggregate Amount in Row (11) Excludes Certain Securities</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt"><P STYLE="margin-top: 0; margin-bottom: 0"></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P></TD></TR>
<TR>
    <TD ROWSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 5.4pt; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><B>13</B></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">Percent of Class Represented by Amount in Row (11)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">9.64%</P></TD></TR>
<TR>
    <TD ROWSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 5.4pt; text-align: center; padding-top: 1pt; padding-bottom: 1pt"><B>14</B></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt">Type of Reporting Person</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5.4pt; padding-top: 1pt; padding-bottom: 1pt"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">OO</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(2)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Audrey Meyer, Mr. Meyer's
wife, and Mike McQuinn are the Trustees of the Daniel H. Meyer 2012 Gift Trust U/A/D 10/31/12.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top"><TD STYLE="font-size: 10pt; width: 33%"><B>CUSIP No. 819047 101</B></TD>
    <TD STYLE="font-size: 10pt; width: 34%; text-align: center"><B>Schedule 13D/A</B></TD>
    <TD STYLE="font-size: 10pt; width: 33%">&nbsp;</TD></TR>
</TABLE></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Preliminary Note</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This filing, dated
August 22, 2019 (this &quot;Amendment&quot;), amends and supplements the Schedule 13Ds initially filed on February 17, 2015 for
each of Daniel H. Meyer and Daniel H. Meyer 2012 Gift Trust U/A/D 10/31/12 (the &ldquo;Gift Trust&rdquo;) (as amended and supplemented
to date, the &quot;Schedule 13Ds&quot;) relating to shares of Class A common stock, $0.001 par value per share (the &quot;A-Common&quot;),
of Shake Shack Inc. (the &quot;Issuer&quot;). Capitalized terms used in this Amendment and not otherwise defined herein shall have
the same meanings ascribed to them in the Schedule 13Ds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in"><B>Item 4.</B></TD><TD STYLE="text-align: justify"><B>Purpose of Transaction</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to a Stockholder Agreement, dated
as of February 4, 2015, as amended, between the Issuer, Daniel H. Meyer, the Gift Trust, Gramercy Tavern Corp. (&ldquo;GTC&rdquo;)
and Mr. Meyer&rsquo;s other affiliates (collectively, the &ldquo;Meyer Stockholders&rdquo;), and the other parties thereto, the
Meyer Stockholders had the right to cause all of the stock of GTC to be exchanged for shares of the A-Common pursuant to a tax-free
reorganization under Section 368(a) of the Internal Revenue Code (the &ldquo;Code&rdquo;). On August 16, 2019, at the Meyer Stockholders&rsquo;
election, such a reorganization (the &ldquo;Reorganization&rdquo;) was completed. The Reorganization was structured as a two-step
merger, whereby a wholly-owned subsidiary of the Issuer merged with and into GTC, with the Reporting Person as the surviving corporation,
which then merged with and into the Issuer, resulting in (i) cancellation of the shares of Class B common stock, $0.001 par value
per share (the &ldquo;B-Common&rdquo;) of the Issuer held by GTC, (ii) transfer of the common membership interests in SSE Holdings,
LLC (the &ldquo;LLC Interests&rdquo;) held by GTC to the Issuer, and (iii) the exchange of common stock of GTC held by the shareholders,
including the Reporting Persons, of GTC for shares of A-Common.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in; text-align: left"><B>Item 5.</B></TD><TD><B>Interest in Securities of the Issuer</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 5 of the Schedule 13Ds is amended and restated in its entirety
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a)-(b)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The aggregate percentage of shares of A-Common
reported to be beneficially owned by the Reporting Persons is based upon a total of 30,558,210 shares of A-Common outstanding,
which is the total number of shares of A-Common told by the Issuer to the Reporting Persons to be outstanding as of July 24, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At the close of business on August 22,
2019, the Reporting Persons may be deemed to beneficially own 4,567,049 shares of A-Common in the aggregate, constituting approximately
14.08% of the shares of A-Common outstanding, as set forth in further detail below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid">Reporting Person</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Amount</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>beneficially</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>owned</B></P></TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Percent</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>of class</B></P></TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Sole power</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>to&nbsp;vote or to</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>direct the</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>vote</B></P></TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Shared</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>power to</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>vote or to</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>direct the</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>vote</B></P></TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Sole power to</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>dispose or to</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>direct the</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>disposition of</B></P></TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Shared power</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>to dispose or to</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>direct the</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>disposition of</B></P></TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 29%; text-align: left; padding-left: 3pt">DANIEL H. MEYER<SUP>(1)</SUP></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">4,567,049</TD><TD STYLE="width: 1%; text-align: left"><SUP>(3)</SUP></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">14.08</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">1,439,937</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">3,127,112</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">1,439,937</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">3,127,112</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 3pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">DANIEL H. MEYER 2012 GIFT TRUST U/A/D 10/31/12<SUP>(2)</SUP></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,127,112</TD><TD STYLE="padding-bottom: 1pt; text-align: left"><SUP>(4)</SUP></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">9.64</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,127,112</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,127,112</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-indent: -4.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify">Includes securities that are held by the Daniel H. Meyer Investment Trust dtd 5/15/92, of which Mr. Meyer serves as the grantor,
trustee and beneficiary (the &quot;Investment Trust&quot;). Mr. Meyer disclaims beneficial ownership of the securities held by
the Gift Trust.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: justify">Audrey Meyer, Mr. Meyer's wife, and Mike McQuinn are the Trustees of the Gift Trust.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(3)</TD><TD STYLE="text-align: justify">Includes 2,695,738 shares of A-Common and 1,861,057 LLC Interests that may be exchanged for shares of A-Common at the election
of Mr. Meyer.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(4)</TD><TD STYLE="text-align: justify">Includes 2,536,191 shares of A-Common and 590,921 LLC Interests that may be exchanged for shares of A-Common at the election
of the Gift Trust.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 33%"><B>CUSIP No. 819047 101</B></TD>
    <TD STYLE="font-size: 10pt; width: 34%; text-align: center"><B>Schedule 13D/A</B></TD>
    <TD STYLE="font-size: 10pt; width: 33%">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(c) The following table sets forth the transactions with respect
to shares of A-Common by each of the Reporting Persons required to be reported pursuant to this Item 5(c).&nbsp; Each day's sales
comprised open market transactions made on that day, and the price per share reported for each sale is the weighted average sales
price. The Reporting Person&rsquo;s will provide upon request of the SEC staff the full information regarding the number of shares
purchased or sold at each separate price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid">Reporting Person</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Date of Transaction</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Number of Shares</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Acquired (A) or</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Disposed (D) of</B></P></TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Price per Share</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><SUP>&nbsp;</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 60%; text-align: left; padding-left: 3pt">DANIEL H. MEYER*</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%; text-align: right">May 1, 2019</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">64,510</TD><TD NOWRAP STYLE="width: 2%; text-align: left">(D)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">61.4672</TD><TD NOWRAP STYLE="width: 1%; text-align: left"><SUP>(1)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 3pt">DANIEL H. MEYER*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">May 1, 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,490</TD><TD NOWRAP STYLE="text-align: left">(D)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">62.0417</TD><TD NOWRAP STYLE="text-align: left"><SUP>(2)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 3pt">DANIEL H. MEYER*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">June 3, 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,606</TD><TD NOWRAP STYLE="text-align: left">(D)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">59.0961</TD><TD NOWRAP STYLE="text-align: left"><SUP>(3)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 3pt">DANIEL H. MEYER*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">June 3, 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">26,568</TD><TD NOWRAP STYLE="text-align: left">(D)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">59.6844</TD><TD NOWRAP STYLE="text-align: left"><SUP>(4)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 3pt">DANIEL H. MEYER*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">June 3, 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,000</TD><TD NOWRAP STYLE="text-align: left">(D)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">60.9400</TD><TD NOWRAP STYLE="text-align: left"><SUP>(5)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 3pt">DANIEL H. MEYER*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">June 4, 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21,826</TD><TD NOWRAP STYLE="text-align: left">(D)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">60.0510</TD><TD NOWRAP STYLE="text-align: left"><SUP>(6)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 3pt">DANIEL H. MEYER</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">June 11, 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">379</TD><TD NOWRAP STYLE="text-align: left">(A)<SUP>(7)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0</TD><TD NOWRAP STYLE="text-align: left"><SUP>(7)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 3pt">DANIEL H. MEYER*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">June 27, 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,565</TD><TD NOWRAP STYLE="text-align: left">(D)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">70.0684</TD><TD NOWRAP STYLE="text-align: left"><SUP>(8)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 3pt">DANIEL H. MEYER*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">June 28, 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,435</TD><TD NOWRAP STYLE="text-align: left">(D)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">70.3513</TD><TD NOWRAP STYLE="text-align: left"><SUP>(9)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 3pt">DANIEL H. MEYER*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">July 1, 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">46,185</TD><TD NOWRAP STYLE="text-align: left">(D)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">68.7273</TD><TD NOWRAP STYLE="text-align: left"><SUP>(10)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 3pt">DANIEL H. MEYER*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">July 1, 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23,615</TD><TD NOWRAP STYLE="text-align: left">(D)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">69.6193</TD><TD NOWRAP STYLE="text-align: left"><SUP>(11)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 3pt">DANIEL H. MEYER*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">July 1, 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,230</TD><TD NOWRAP STYLE="text-align: left">(D)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">70.9122</TD><TD NOWRAP STYLE="text-align: left"><SUP>(12)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 3pt">DANIEL H. MEYER*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">July 1, 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,100</TD><TD NOWRAP STYLE="text-align: left">(D)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">71.4832</TD><TD NOWRAP STYLE="text-align: left"><SUP>(13)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 3pt">DANIEL H. MEYER*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">July 1, 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500</TD><TD NOWRAP STYLE="text-align: left">(D)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">72.8404</TD><TD NOWRAP STYLE="text-align: left"><SUP>(14)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 3pt">DANIEL H. MEYER*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">July 2, 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,054</TD><TD NOWRAP STYLE="text-align: left">(D)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">70.0033</TD><TD NOWRAP STYLE="text-align: left"><SUP>(15)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 3pt">DANIEL H. MEYER*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">July 3, 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15,316</TD><TD NOWRAP STYLE="text-align: left">(D)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">70.2702</TD><TD NOWRAP STYLE="text-align: left"><SUP>(16)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 3pt">DANIEL H. MEYER*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">August 1, 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,413</TD><TD NOWRAP STYLE="text-align: left">(D)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">75.0538</TD><TD NOWRAP STYLE="text-align: left"><SUP>(17)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 3pt">DANIEL H. MEYER*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">August 1, 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,600</TD><TD NOWRAP STYLE="text-align: left">(D)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">75.8428</TD><TD NOWRAP STYLE="text-align: left"><SUP>(18)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 3pt">DANIEL H. MEYER*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">August 1, 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,987</TD><TD NOWRAP STYLE="text-align: left">(D)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">76.5370</TD><TD NOWRAP STYLE="text-align: left"><SUP>(19)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 3pt">DANIEL H. MEYER*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">August 16, 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">154,072</TD><TD NOWRAP STYLE="text-align: left">(A)<SUP>(20)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0</TD><TD NOWRAP STYLE="text-align: left"><SUP>(20)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 3pt">DANIEL H. MEYER 2012 GIFT TRUST DTD 10/31/12</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">August 16, 2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,536,191</TD><TD NOWRAP STYLE="text-align: left">(A)<SUP>(20)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0</TD><TD NOWRAP STYLE="text-align: left"><SUP>(20)</SUP></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">*</TD><TD>This transaction was effected by the Investment<FONT STYLE="font-size: 10pt">.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(1)</TD><TD>The transaction was executed in multiple trades as prices
ranging from $60.8900 to $61.8899.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(2)</TD><TD>The transaction was executed in multiple trades as prices
ranging from $61.8900 to $62.2400.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(3)</TD><TD>The transaction was executed in multiple trades as prices
ranging from $58.5100 to $59.5099.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(4)</TD><TD>The transaction was executed in multiple trades as prices
ranging from $59.5100 to $60.5099.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(5)</TD><TD>The transaction was executed in multiple trades as prices
ranging from $60.5100 to $61.8000.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(6)</TD><TD>The transaction was executed in multiple trades as prices
ranging from $60.0000 to $60.2400.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(7) <FONT STYLE="background-color: white">Represents shares
of A-Common underlying restricted stock units acquired by Mr. Meyer. On June 11, 2019, pursuant to the Issuer's 2015 Incentive
Award Plan, as amended, and the Issuer's Non-Employee Director Compensation Policy, Mr. Meyer was awarded restricted stock units
that represent the right to receive A-Common. The restricted stock units representing the right to receive A-Common vest on June
11, 2020, subject to Mr. Meyer&rsquo;s continued service with the Issuer. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(8)</TD><TD>The transaction was executed in multiple trades as prices
ranging from $70.0000 to $70.2000.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 33%"><B>CUSIP No. 819047 101</B></TD>
    <TD STYLE="font-size: 10pt; width: 34%; text-align: center"><B>Schedule 13D/A</B></TD>
    <TD STYLE="font-size: 10pt; width: 33%">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(9)</TD><TD>The transaction was executed in multiple trades as prices
ranging from $70.1800 to $70.7400.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(10)</TD><TD>The transaction was executed in multiple trades as prices
ranging from $68.2900 to $69.2899.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(11)</TD><TD>The transaction was executed in multiple trades as prices
ranging from $69.2900 to $70.2899.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(12)</TD><TD>The transaction was executed in multiple trades as prices
ranging from $70.2900 to $71.2899.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(13)</TD><TD>The transaction was executed in multiple trades as prices
ranging from $71.2900 to $72.2899.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(14)</TD><TD>The transaction was executed in multiple trades as prices
ranging from $72.2900 to $73.0500.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(15)</TD><TD>The transaction was executed in multiple trades as prices
ranging from $70.0000 to $70.0500.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(16)</TD><TD>The transaction was executed in multiple trades as prices
ranging from $70.0000 to $70.9500.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(17)</TD><TD>The transaction was executed in multiple trades as prices
ranging from $74.3200 to $75.3199.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(18)</TD><TD>The transaction was executed in multiple trades as prices
ranging from $75.3200 to $75.3299.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(19)</TD><TD>The transaction was executed in multiple trades as prices
ranging from $76.3200 to $76.7050.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(20)</TD><TD>Acquired <FONT STYLE="background-color: white">pursuant
to the Reorganization.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">(d)</TD><TD>None.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">(e)</TD><TD>Not applicable.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in"><B>Item 6.</B></TD><TD><B>Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 6 is hereby amended and supplemented by the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with
the Reorganization, on August 16, 2019 (the &ldquo;First Effective Time&rdquo;), SSI GT Merger Sub, a wholly-owned subsidiary of
the Issuer (the &ldquo;Merger Sub&rdquo;), and GTC entered into an Agreement and Plan of Merger (the &ldquo;Agreement and Plan
of Merger #1&rdquo;). Pursuant to the Agreement and Plan of Merger #1, Merger Sub merged with and into GTC, as a result of which
the ownership interest of the shareholders of GTC outstanding prior to the First Effective Time (the &ldquo;shares&rdquo;) were
exchanged for an amount of shares of A-Common, based upon the amount of shares held by the shareholders of GTC, at the exchange
rate of one to one. A Certificate of Merger was filed with the New York State Department of State Division of Corporations on the
First Effective Time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On August 16, 2019
(the &ldquo;Second Effective Time&rdquo;), GTC and the Issuer entered into an Agreement and Plan of Merger (the &ldquo;Agreement
and Plan of Merger #2&rdquo;). Pursuant to the Agreement and Plan of Merger #2, GTC merged with and into the Issuer, as a result
of which (i) each share of B-Common held by GTC immediately prior to the Second Effective Time was cancelled and (ii) the LLC Interests
held by GTC immediately prior to the Second Effective Time were transferred to the Issuer. A Certificate of Ownership was filed
with the Delaware Secretary of State Division of Corporations on the Second Effective Time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in"><B>Item 7.</B></TD><TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Item 7 of the Schedule 13D is hereby amended
and supplemented as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 6 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 33%"><B>CUSIP No. 819047 101</B></TD>
    <TD STYLE="font-size: 10pt; width: 34%; text-align: center"><B>Schedule 13D/A</B></TD>
    <TD STYLE="font-size: 10pt; width: 33%">&nbsp;</TD></TR>
</TABLE></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: justify"><B>Exhibit No.</B></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 88%; border-bottom: Black 1pt solid; text-align: center"><B>Description</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">7.15</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Agreement and Plan of Merger, dated as of August 16, 2019, by and between SSI GT Merger Sub and Gramercy Tavern Corp.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">7.16</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Certificate of Merger of SSI GT Merger Sub LLC into Gramercy Tavern Corp., filed August 16, 2019</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">7.17</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Agreement and Plan of Merger, dated as of August 16, 2019, by and between Gramercy Tavern Corp. and Shake Shack Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">7.18</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Certificate of Ownership Merging Gramercy Tavern Corp. into Shake Shack Inc., filed August 16, 2019</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 7 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 33%"><B>CUSIP No. 819047 101</B></TD>
    <TD STYLE="font-size: 10pt; width: 34%; text-align: center"><B>Schedule 13D/A</B></TD>
    <TD STYLE="font-size: 10pt; width: 33%">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">After reasonable inquiry and to the best
of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%">Dated: August 22, 2019</TD>
    <TD STYLE="width: 5%">By:</TD>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid">/s/&nbsp;&nbsp;&nbsp;Ronald Palmese, Jr.</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Ronald Palmese, Jr., Esq., Attorney-in-Fact for Daniel H. Meyer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%">Dated: August 22, 2019</TD>
    <TD STYLE="width: 5%">By:</TD>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid">/s/&nbsp;&nbsp;&nbsp;Ronald Palmese, Jr.</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Ronald Palmese, Jr., Esq., Attorney-in-Fact for Daniel H. Meyer 2012 Gift Trust U/A/D 10/31/12</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<!-- Field: Page; Sequence: 8; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-7.15
<SEQUENCE>2
<FILENAME>tv528168_ex7-15.htm
<DESCRIPTION>EXHIBIT 7.15
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>EXHIBIT 7.15</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>AGREEMENT AND PLAN OF MERGER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">THIS AGREEMENT AND PLAN OF MERGER, dated as
of August 16, 2019 (this &ldquo;<B>Agreement</B>&rdquo;), is by and between SSI GT Merger Sub LLC, a Delaware limited liability
company (&ldquo;<B>Merger Sub</B>&rdquo;) and Gramercy Tavern Corp., a New York corporation (the &ldquo;<B>Company</B>,&rdquo;
and together with Merger Sub, the &ldquo;<B>Parties</B>&rdquo;), and is approved by the undersigned respective members of the Parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>RECITALS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">WHEREAS, in accordance with Section 18-209 of
the Limited Liability Company Act of the State of Delaware (&ldquo;<B>DLLCA</B>&rdquo;) and in accordance with Section 904-a of
the New York Business Corporation Law (the &ldquo;<B>NYBCL</B>&rdquo;), the members and shareholders of each of Merger Sub and
the Company, respectively, have determined it to be in the best interests of each such entity that Merger Sub and the Company enter
into this Agreement and consummate a merger, on the terms and subject to the conditions set forth in this Agreement, of Merger
Sub with and into the Company (the &ldquo;<B>Merger</B>&rdquo;), after which the Company will be the surviving corporation, and
that such members and shareholders approve this Agreement, the Merger, and the other transactions contemplated hereby, all in accordance
with the NYBCL and the DLLCA, as applicable; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">WHEREAS, the members and shareholders of each
of Merger Sub, respectively, and the Company hereby unanimously approve and adopt this Agreement, the Merger, and the other transactions
contemplated hereby in accordance with Section 18-209 of the DLLCA and Section 904-a of the NYBCL, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">NOW, THEREFORE, in consideration of the foregoing,
and the respective representations, warranties, covenants, and agreements herein contained, and subject to the conditions set forth
herein, the Parties hereto agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>ARTICLE I</B><BR>
<B>THE MERGER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">SECTION&nbsp;1.01. <U>The Merger</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
the terms and subject to the conditions of this Agreement, at the Effective Time and in accordance with Section 18-209 of the DLLCA
and Section 904 of the NYBCL, (i) Merger Sub shall be merged with and into the Company, (ii) the separate existence of Merger Sub
shall cease, (iii) the Company shall be the surviving corporation in the Merger (the &ldquo;<B>Surviving Entity</B>,&rdquo; which
term shall refer to the Company and any entity into which it is subsequently merged) and shall continue its existence under the
laws of the State of New York, and (iv) all of the properties, rights, privileges, powers, and franchises of Merger Sub will vest
in the Surviving Entity, and all of the debts, liabilities, obligations, and duties of Merger Sub will become the debts, liabilities,
obligations, and duties of the Surviving Entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">SECTION 1.02. <U>Closing; Effective Time</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
closing of the Merger shall take place on the date hereof (the &ldquo;<B>Closing Date</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
soon as practicable on the Closing Date, the Parties shall cause a certificate of merger (the &ldquo;<B>Certificate of Merger</B>&rdquo;)
to be executed and filed with the Secretary of State of the State of New York in accordance with Section 18-209 of the DLLCA and
Section 904-a of the NYBCL. The Merger shall become effective upon the filing of the Certificate of Merger with the Secretary of
State of the State of New York or at such other time as the Parties shall agree and as shall be specified in the Certificate of
Merger. The date and time when the Merger shall become effective is herein referred to as the &ldquo;<B>Effective Time</B>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">SECTION 1.03. <U>Certificate of Formation and
Operating Agreement</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
articles of organization of the Company as in effect immediately prior to the Effective Time shall be the articles of organization
of the Surviving Entity, to remain unchanged until thereafter amended in accordance with the terms thereof and as provided by applicable
law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
bylaws of the Company shall be the bylaws of the Surviving Entity, to remain unchanged until thereafter amended in accordance with
the terms thereof and as provided by applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">SECTION 1.04. <U>Directors; Officers</U>. The
sole director of the Company immediately prior to the Effective Time shall remain the sole director of the Surviving Entity until
the earlier of its resignation or removal or until its successor is duly appointed. The individuals set forth on <U>Exhibit A</U>
shall be the officers of the Surviving Entity until the earlier of their resignation or removal or until their respective successors
are duly elected and qualified.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">SECTION 1.05. <U>Subsequent Actions</U>. If,
at any time after the Effective Time, the Surviving Entity shall consider or be advised that any deeds, bills of sale, assignments,
assurances, or any other actions or things are necessary or desirable to vest, perfect, or confirm of record or otherwise in the
Surviving Entity its right, title, or interest in, to, or under any of the rights, properties, or assets of Merger Sub acquired
or to be acquired by the Surviving Entity as a result of or in connection with the Merger or otherwise to carry out this Agreement,
the officers and manager of the Surviving Entity shall be authorized to execute and deliver, in the name of and on behalf of Merger
Sub, all such deeds, bills of sale, assignments, and assurances and to take and do, in the name and on behalf of each of such limited
liability company or otherwise, all such other actions and things as may be necessary or desirable to vest, perfect, or confirm
any and all right, title and interest in, to and under such rights, properties or assets in the Surviving Entity or otherwise to
carry out this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">SECTION 1.06. <U>Conversion of Membership Interests;
Merger Consideration</U>. At the Effective Time, by virtue of the Merger and without any further action on the part of the Company
or Merger Sub:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
ownership interest of the shareholders of the Company outstanding immediately prior to the Effective Time (the &ldquo;<B>Shares</B>&rdquo;)
shall thereupon be converted into and become exchangeable for an amount of shares of Class A Common Stock, par value $0.001 per
share, of Shake Shack Inc., a Delaware corporation (the &ldquo;<B>Parent</B>&rdquo;), based upon the amount of Shares held by the
shareholders of the Company (the &ldquo;<B>Merger Consideration</B>&rdquo;), at the exchange rate of one to one, as set forth on
<U>Exhibit B</U>. As of the Effective Time, the Shares shall no longer be outstanding and shall automatically be cancelled and
shall cease to exist, and shall thereafter only represent the right to receive, on behalf of the members of the Company, the Merger
Consideration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
membership interests of Merger Sub outstanding immediately prior to the Effective Time shall thereupon be converted into 100% of
the percentage interests of the Surviving Entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>ARTICLE II</B><BR>
<B>REPRESENTATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">As of the Effective Time, each of the Company,
the Daniel H. Meyer Investment Trust and the Daniel H. Meyer 2012 Gift Trust represents, warrants and covenants as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
assets and liabilities included in <U>Appendix A</U> represent a complete and accurate listing of all assets and liabilities of
the Company that will exist immediately prior to the First Effective Time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company has satisfactory title to all assets appearing in <U>Appendix A</U>. No security agreements have been executed under the
provisions of the Uniform Commercial Code, and there are no liens or encumbrances on assets, nor has any asset been pledged. All
assets to which the Company has satisfactory title appear on <U>Appendix A</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
are no unrecorded liabilities as of the Effective Time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
are no pending or threatened claims, litigation, actions, suits, proceedings or investigations involving the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
are no oral or written guarantees, including guarantees of the debt of others.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company has no outstanding purchase or other commitments. There are no agreements to repurchase assets previously sold.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company has been a validly electing S corporation within the meaning of &sect;1361 and &sect;1362 of the Internal Revenue Code
of 1986, as amended (the &ldquo;<B>Code</B>&rdquo;) (and corresponding state and local provisions) at all times since June 24,
1993 and the Company will be an S corporation up to and including the day before the First Effective Time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company has no potential liability for any Tax under Code &sect;1374. The Company has not, in the past 5 years, (A) acquired assets
from another corporation in a transaction in which the Company&rsquo;s Tax basis for the acquired assets was determined, in whole
or in part, by reference to the Tax basis of the acquired assets (or any other property) in the hands of the transferor or (B)
acquired the stock of any corporation that is a qualified subchapter S subsidiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other
than as set forth on <U>Appendix A</U>, the Company has filed all income and other material Tax Returns required to be filed by
or with respect to it with the appropriate Taxing Authority, and all such Tax Returns are true, complete and correct in all material
respects. The Company is not currently the beneficiary of any extension of time within which to file any Tax Return. The Company
has paid all Taxes required to be paid by it (whether or not shown on such Tax Returns). There are no Liens with respect to Taxes
upon any asset of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
shareholders of the Company prior to the Effective Time shall be responsible for any liabilities of the Company as set forth on
<U>Appendix A</U> and the cost and expenses of the filing of any Tax Returns with respect to any such liabilities of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company is not the subject of a Tax audit or examination with respect to any Taxes, and there is no pending audit, examination
or action concerning any Tax Liability of the Company. The Company has not received from any Taxing Authority any (i) notice indicating
an intent to open an audit or other review or (ii) notice of deficiency or proposed adjustment for any amount of Tax.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company has not agreed to any waiver of any statute of limitations in respect of Taxes that remains in effect or has agreed to,
or is subject to, any extension of time with respect to a Tax assessment or deficiency.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company is, and has not been, party to any Tax sharing agreement, Tax indemnity agreement, Tax allocation agreement or similar
Contract (other than customary commercial agreements or contractual obligations entered into in the ordinary course of business
not primarily related to Taxes).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(n)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<B>Tax
Return</B>&rdquo; means any return, declaration, report, claim for refund or information return filed or required to be filed with
respect to Taxes, including any schedule or attachment thereto, and including any amendment thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>ARTICLE III</B><BR>
<B>INDEMNIFICATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
of the Daniel H. Meyer Investment Trust and the Daniel H. Meyer 2012 Gift Trust (collectively, the &ldquo;<B>Indemnitors</B>&rdquo;)
shall, severally and jointly, indemnify the Parent and SSE Holdings, LLC, a Delaware limited liability company (&ldquo;<B>Holdings</B>&rdquo;
and, together with Parent, the &ldquo;<B>Indemnitees</B>&rdquo;), and hold each of them harmless from and against, any and all
Losses (including, for the avoidance of doubt, Taxes) of the Company arising in or with respect to any period (or portion thereof)
ending prior to the Effective Time or resulting from a breach of any representation under <U>Article II</U> hereof. Losses include
those resulting from any future changes in laws or regulations that are made retroactively effective to any period prior to the
Effective Time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Surviving Entity shall promptly notify the Indemnitors in writing upon receipt of notice of any Tax audits, examinations, or assessments
that could give rise to indemnification with respect to Tax matters, and of any other matters which could give rise to Losses indemnifiable
hereunder. The Indemnitors shall have the right, upon timely notice to the Surviving Entity, to control, at their own expense,
the portion of (i) any such audit, examination, or proceeding (including court proceedings) that relates to Taxes, or (ii) any
other matter which could give rise to Losses indemnifiable hereunder (each of (i) and (ii), a &ldquo;<B>Indemnification Proceeding</B>&rdquo;)
and for which it could be liable under this Agreement. Parent and the Surviving Entity shall, at their own expense, have the opportunity
to participate in any such Indemnification Proceeding (including being present at all meetings with the relevant Tax authority
and at all other proceedings). The Indemnitors shall not resolve, settle, compromise, or abandon any issue or claim that relates
to or could affect the Surviving Entity without the prior written consent of Parent, which consent shall not be unreasonably withheld
or delayed, if such action would adversely affect any Tax or other liability of the Surviving Entity for a period (or portion thereof)
beginning after the Effective Time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 4; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Surviving Entity shall control, at the Indemnitor&rsquo;s expense, any audit, examination, or proceeding or other matter that is
not controlled by the Indemnitors under <U>Section 2.01(b)</U> above (including cases in which the Indemnitors elect not to control
the audit, examination, proceeding, or other matter). To the extent that any such audit, examination, or proceeding relates to
Taxes for which the Indemnitors could be liable, the Indemnitors shall have the right, at their own expense, to participate in
any such audit, examination, or proceeding (which participation right shall include, to the extent practicable, being present at
all meetings with the relevant Tax authority and at all other proceedings) limited solely to the portion of such audit, examination
or proceeding with respect to which indemnity is provided under this Agreement. To the extent that any such audit, examination,
proceeding, or other matter does not relate to Taxes for which the Indemnitors could be liable, the Indemnitors shall, at their
own expense, have the opportunity to participate in any such audit, examination, proceeding, or other matter, limited solely to
the portion of such audit, examination, proceeding, or other matter with respect to which indemnity is provided under this Agreement.
Neither Parent nor the Surviving Entity shall resolve, settle, compromise, or abandon any issue or claim that would adversely affect
any Tax or other liability of the Indemnitors without the prior written consent of the Indemnitors, which consent shall not be
unreasonable withheld or delayed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<B>Losses</B>&rdquo;
shall mean any claims, losses, liabilities, damages, interest, penalties and out of pocket costs and expenses, including reasonable
attorneys&rsquo;, accountants&rsquo; and expert witnesses&rsquo; fees, and costs and expenses of investigation and amounts paid
in settlement, court costs, and other expenses of litigation, including in respect of enforcement of indemnity rights hereunder
and any transaction costs related to the Merger (it being understood that Losses shall not include any consequential, special,
incidental, indirect or punitive damages).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<B>Taxes</B>&rdquo;
means any and all taxes of any kind (together with any and all interest, penalties, additions to tax and additional amounts imposed
with respect thereto) imposed by any United States or non-United States national, federal, state or local governmental, regulatory
or administrative authority, agency or commission or any judicial or arbitral body.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>ARTICLE IV</B><BR>
<B>GENERAL PROVISIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">SECTION 4.01. <U>Arbitration of Disputes</U>.
To the fullest extent permitted by applicable law, any controversy, dispute, or claim between the Parties arising out of, in connection
with, or in relation to the interpretation, performance or breach of this Agreement or any agreement or other instrument executed
pursuant hereto (except as specifically provided otherwise in any such other agreement) or otherwise arising out of the execution
of any of the foregoing, including any claim based on contract, tort, or statute, shall be determined, at the request of either
Party, by arbitration conducted in the English language in New York, New York in accordance with and to the extent permitted by
the NY Code &ndash; Civil Practice Law and Rules, Article 75 and, to the extent not inconsistent therewith, in accordance with
the Rules for Commercial Arbitration of the American Arbitration Association, as amended and in effect on the date the demand for
such arbitration is filed with the American Arbitration Association. It is intended that this agreement to arbitrate be valid,
enforceable, and irrevocable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">SECTION 4.02. <U>Amendment and Modification</U>.
This Agreement may not be amended, modified, or supplemented in any manner, whether by course of conduct or otherwise, except by
an instrument in writing specifically designated as an amendment hereto, signed on behalf of each of the Parties in interest at
the time of the amendment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 5; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">SECTION 4.03. <U>Interpretation</U>. When a
reference is made in this Agreement to an Article, Section, or subsection, such reference shall be to an Article, Section, or subsection
of this Agreement unless otherwise indicated. Headings of the Articles and Sections of this Agreement are for the convenience of
reference only and shall be given no substantive or interpretive effect whatsoever. All terms defined in this Agreement shall have
the defined meanings when used in any certificate or other document made or delivered pursuant hereto unless otherwise defined
therein. The definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms and
to the masculine as well as to the feminine and neuter genders of such term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">SECTION 4.04. <U>Entire Agreement</U>. This
Agreement (including the documents referred to herein) constitutes the entire agreement between the Parties and supersedes any
prior understandings, agreements, or representations by or between the Parties, written or oral, to the extent they relate in any
way to the subject matter hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">SECTION 4.05. <U>Assignment</U>. This Agreement
shall be binding upon and inure to the benefit of the Parties named herein and their respective successors and permitted assigns.
Neither Party hereto may assign either this Agreement or any of its rights, interests, or obligations hereunder with the prior
written consent of the other Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">SECTION 4.06. <U>Counterparts</U>. This Agreement
may be executed in one or more counterparts, all of which shall be considered one and the same agreement and shall become effective
when one or more counterparts have been signed by each of the Parties and delivered to the other Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">SECTION 4.07. <U>Facsimile or .pdf Signature</U>.
This Agreement may be executed by facsimile or .pdf signature and a facsimile or .pdf signature shall constitute an original for
all purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">SECTION 4.08. <U>No Third-Party Beneficiaries</U>.
This Agreement (including the documents and instruments referred to herein) is not intended to confer upon any person other than
the Parties and their respective successors and permitted assigns any legal or equitable right, benefit or remedy of any nature
under or by reason of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">SECTION 4.09. <U>Governing Law</U>. This Agreement,
and all disputes arising herefrom, shall be governed by, and construed in accordance with, the internal laws of the State of New
York, without giving effect to any choice or conflict of law provision or rule (whether of the State of New York or any other jurisdiction)
that would cause the application of the laws of any jurisdiction other than the State of New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">SECTION 4.10. <U>Severability</U>. Whenever
possible, each provision or portion of any provision of this Agreement shall be interpreted in such manner as to be effective and
valid under applicable law, but if any provision or portion of any provision of this Agreement is held to be invalid, illegal,
or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality, or unenforceability
shall not affect any other provision or portion of any provision in such jurisdiction, and this Agreement shall be reformed, construed,
and enforced in such jurisdiction as if such invalid, illegal, or unenforceable provision or portion of any provision had never
been contained herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">SECTION 4.11. <U>Tax Treatment</U>. To the extent
permitted by applicable law, the Parties shall, for federal income tax purposes, treat the Merger and the merger of the Company
with Shake Shack Inc. (with Shake Shack Inc. surviving), taken together, as a &ldquo;reorganization&rdquo; (as defined in section
368(a) of the Internal Revenue Code of 1986, as amended). This Agreement is intended to constitute a &ldquo;plan of reorganization&rdquo;
as described in Treasury Regulation Section 1.368-2(g).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 6; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">SECTION 4.12. <U>Tax Refunds</U>. Any Taxes
of the Surviving Entity relating to any Tax period (or portion thereof) prior to the Effective Time that are (a) refunded to the
Surviving Entity or Parent or (b) credited against a Tax liability of the Surviving Entity or Parent with respect to a period (or
portion thereof) beginning after the Effective Time, other than any such refunds or credits of Tax that are attributable to a loss,
credit, or other Tax attribute arising in periods beginning after the Effective Time (&ldquo;<B>Tax Refunds</B>&rdquo;) shall,
net of any Taxes incurred in respect of the receipt or accrual of such refund or credit and net of any other reasonable expenses
attributable thereto, promptly be paid over to the Indemnitors. The Indemnitors shall have the right to determine whether any claim
for refund or credits of Taxes shall be made by or on behalf of the Surviving Entity or Parent with respect to a period (or portion
thereof) ending on or prior to the Effective Time and if the Indemnitors elect to make such a claim, Parent, and the Surviving
Entity, shall cooperate at the Indemnitors&rsquo; expense in connection therewith, including the preparation of any Tax Return
that is required to be filed by the Surviving Entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">SECTION 4.13. <U>Non- Foreign Affidavit</U>.
Each of the Daniel H. Meyer Investment Trust and the Daniel H. Meyer 2012 Gift Trust shall deliver to Buyer a non-foreign affidavit
dated as of the Effective Time, sworn under penalty of perjury and in form and substance required under the Treasury Regulations
issued pursuant to Code &sect;1445 stating that such Seller is not a &lsquo;&lsquo;foreign person&rsquo;&rsquo; as defined in Code
&sect;1445.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">[<I>Signature Pages Follow</I>]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<!-- Field: Page; Sequence: 7; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">IN WITNESS WHEREOF, the Parties have caused
this Agreement to be executed as of the date first written above by their respective officers thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="text-transform: uppercase">SSI GT Merger Sub LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">By: Shake Shack Inc.,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 0.25in">its sole member</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 0.25in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 45%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Name: Ronald Palmese Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Title: General Counsel</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="text-transform: uppercase">GRAMERCY TAVERN CORP.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Name: Mike McQuinn</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Title: President, Secretary and Treasurer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">[<FONT STYLE="font-variant: small-caps">Signature
Page to Agreement and Plan of Merger</FONT> #1]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>


<!-- Field: Page; Sequence: 8 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">IN WITNESS WHEREOF, the undersigned shareholders
of the Company hereby approve the Agreement, the transactions contemplated hereby, and the performance of the obligations hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">DANIEL H. MEYER INVESTMENT TRUST</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Name: Michael C. McQuinn</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Title: Co-Trustee</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">DANIEL H. MEYER 2012 GIFT TRUST</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Name: Michael C. McQuinn</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Title: Co-Trustee</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">[<FONT STYLE="font-variant: small-caps">Signature
Page to Agreement and Plan of Merger</FONT> #1]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 9 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">IN WITNESS WHEREOF, the undersigned sole member
of Merger Sub hereby approves the Agreement, the transactions contemplated hereby, and the performance of the obligations hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">SHAKE SHACK INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Name: Ronald Palmese Jr.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Title: General Counsel</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">[<FONT STYLE="font-variant: small-caps">Signature
Page to Agreement and Plan of Merger</FONT> #1]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<!-- Field: Page; Sequence: 10 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>APPENDIX A</U><BR>
<BR>
ASSETS AND LIABILITIES<BR>
PRIOR TO THE EFFECTIVE TIME</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">[See Attached.]<B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-variant: small-caps">[Appendix
A to Agreement and Plan of Merger]</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 11 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">GRAMERCY TAVERN CORP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">STATEMENT OF FINANCIAL CONDITION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">August 13, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid">ASSETS</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">Current Assets:</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 84%; font-size: 10pt; text-align: left">SSE Holdings, LLC - 2,690,263 units</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 12%; font-size: 10pt; text-align: right">226,696,894</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Shake Shack, Inc. Class B Voting - 2,690,263 shares</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">26,903</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Prepaid Expenses (2019 NYC estimated tax payment)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">17,500</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Total Assets</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">226,741,297</TD><TD STYLE="padding-bottom: 2.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid">LIABILITIES</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Current Liabilities:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">2019 California projected state income tax liability</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">800</TD><TD STYLE="font-size: 10pt; text-align: left"><SUP>(1)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">2019 New York projected state income tax liability</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">7,500</TD><TD STYLE="font-size: 10pt; text-align: left"><SUP>(1)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">2019 New York City projected income tax liability</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">45,000</TD><TD STYLE="font-size: 10pt; text-align: left"><SUP>(1)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">2019 Virginia projected state income tax liability</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">3,500</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><SUP>(1)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Total Liabilities</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">57,250</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1pt solid">SHAREHOLDERS' EQUITY</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Shareholders' Equity</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">226,684,047</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">226,741,297</TD><TD STYLE="padding-bottom: 2.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1) All appropriate 2018 extension payments were made in
March 2019. Because the 2018 SSE Holdings, LLC Schedule K-1 has not yet been received, there may be additional state tax
filings and related state tax liabilities that we are not aware of at this time. In addition, there may be additional state
and city tax filings for the short period in 2019 and additional amounts due that cannot be determined until the 2019 SSE K-1
has been issued.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<!-- Field: Page; Sequence: 12 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>EXHIBIT A</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>OFFICERS OF COMPANY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: -193.5pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%"><FONT STYLE="font-size: 10pt">Ronald Palmese</FONT></TD>
    <TD STYLE="width: 60%"><FONT STYLE="font-size: 10pt">Senior Vice President, General Counsel and&nbsp;&nbsp;Secretary</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-variant: small-caps"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">[<FONT STYLE="font-variant: small-caps">Exhibit
A to Agreement and Plan of Merger</FONT>]</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<!-- Field: Page; Sequence: 13 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>EXHIBIT B</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>COMPANY SHAREOLDERS AND MERGER CONSIDERATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom"><B>Shareholders&nbsp;of&nbsp;</B><BR>
<B>Gramercy&nbsp;Tavern&nbsp;&nbsp;Corp.</B></TD>
    <TD STYLE="width: 2%; text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 65%; border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom"><B>Merger&nbsp;Consideration</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Daniel H. Meyer Investment Trust&nbsp;</P></TD>
    <TD>&nbsp;</TD>
    <TD>154,072 Shares of Class A Common Stock of Shake Shack Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Daniel H. Meyer 2012 Gift Trust</TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">2,536,191 Shares of Class A Common Stock of Shake Shack
Inc.&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Total</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>2,690,263 Shares of Class A Common Stock of Shake Shack Inc.</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">[<FONT STYLE="font-variant: small-caps">Exhibit
B to Agreement and Plan of Merger</FONT>]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>


<!-- Field: Page; Sequence: 14; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-7.16
<SEQUENCE>3
<FILENAME>tv528168_ex7-16.htm
<DESCRIPTION>EXHIBIT 7.16
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>EXHIBIT 7.16</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATE OF MERGER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SSI GT MERGER SUB LLC</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(a Delaware limited liability company)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INTO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>GRAMERCY TAVERN CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(a New York Corporation)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Under Section 904(a) of the Business
Corporation Law of the State of New York</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned Authorized Person of GRAMERCY
TAVERN CORP., a corporation duly organized and existing under and by virtue of the laws of the State of New York, and being the
Authorized Person of SSI GT MERGER SUB LLC, a foreign limited liability company duly organized and existing under and by virtue
of the laws of the State of Delaware, do hereby certify and set forth as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">FIRST: The name of each constituent entity
is as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">GRAMERCY TAVERN CORP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">SSI GT MERGER SUB LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">SECOND: The name of the surviving corporation
is GRAMERCY TAVERN CORP., a corporation of the State of New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">THIRD: The date when the Certificate of
Incorporation of GRAMERCY TAVERN CORP. was filed by the Department of State is June 24, 1993.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">FOURTH: The jurisdiction of formation of
SSI GT MERGER SUB LLC is the State of Delaware, and the date of formation is December 13, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">FIFTH: No Application for Authority in the
State of New York of the non-surviving company to transact business as a foreign entity therein was filed by the Department of
State of the State of New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">SIXTH: An agreement of merger has been approved
and executed by each constituent entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">SEVENTH: Such merger is permitted by the
jurisdiction of organization of the foreign constituent entity and is in compliance therewith.<BR>
<BR>
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">EIGHTH: The agreement of merger is on file
at the place of business of the surviving domestic corporation at the following address: c/o William Harris Investors, 191 North
Wacker Drive, Suite 1500, Chicago, Illinois 60606.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>IN WITNESS WHEREOF</B>, this certificate
has been signed on the 16th day of August, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%">GRAMERCY TAVERN CORP.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Mike McQuinn, President, Secretary and Treasurer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>SSI GT MERGER SUB LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By: Shake Shack Inc., Sole Member</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Ronald Palmese Jr., General Counsel, Authorized Person</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 2; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-7.17
<SEQUENCE>4
<FILENAME>tv528168_ex7-17.htm
<DESCRIPTION>EXHIBIT 7.17
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXHIBIT 7.17</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AGREEMENT AND PLAN OF MERGER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">THIS AGREEMENT AND PLAN OF MERGER, dated
as of August 16, 2019 (this &ldquo;<B>Agreement</B>&rdquo;), is by and between Gramercy Tavern Corp., a New York corporation and
wholly-owned subsidiary of the Company (as defined below) (&ldquo;<B>GT</B>&rdquo;) and Shake Shack Inc., a Delaware corporation
(the &ldquo;<B>Company</B>,&rdquo; and together with GT, the &ldquo;<B>Parties</B>&rdquo;), and is approved by the undersigned
respective members of the Parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RECITALS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, in accordance with Section 905
and 907 of the New York Business Corporation Law (&ldquo;<B>NYBCL</B>&rdquo;) and in accordance with Section 253 of the General
Corporation Law of the State of Delaware (&ldquo;<B>DGCL</B>&rdquo;), the board of directors of the Company (the &ldquo;<B>Board</B>&rdquo;),
has determined it to be in the best interests of each of GT and the Company that GT and the Company enter into this Agreement and
consummate a merger, on the terms and subject to the conditions set forth in this Agreement, of GT with and into the Company (the
&ldquo;<B>Merger</B>&rdquo;), after which the Company will be the surviving corporation, and that the Board (in its capacity as
such and for purposes of the Company&rsquo;s capacity as the sole shareholder of GT) approves this Agreement, the Merger, and the
other transactions contemplated hereby, all in accordance with the NYBCL and DGCL, as applicable; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, immediately following the approval
of this Agreement as contemplated above, the Board (in its capacity as such and for purposes of the Company&rsquo;s capacity as
the sole shareholder of GT) hereby unanimously approves and adopts this Agreement, the Merger, and the other transactions contemplated
hereby in accordance with Section 905 and 907 of the NYBCL and Section 253 of the DGCL, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">NOW, THEREFORE, in consideration of the
foregoing, and the respective representations, warranties, covenants, and agreements herein contained, and subject to the conditions
set forth herein, the Parties hereto agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AGREEMENT</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ARTICLE I<BR>
THE MERGER</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">SECTION&nbsp;1.01. <U>The Merger</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
the terms and subject to the conditions of this Agreement, at the Effective Time and in accordance with Section 905 and 907 of
the NYBCL and Section&nbsp;253 of the DGCL, (i) GT shall be merged with and into the Company, (ii) the separate existence of GT
shall cease, (iii) the Company shall be the surviving corporation in the Merger (the &ldquo;<B>Surviving Entity</B>,&rdquo; which
term shall refer to the Company and any entity into which it is subsequently merged) and shall continue its existence under the
laws of the State of Delaware, and (iv) all of the properties, rights, privileges, powers, and franchises of GT will vest in the
Surviving Entity, and all of the debts, liabilities, obligations, and duties of GT will become the debts, liabilities, obligations,
and duties of the Surviving Entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">SECTION 1.02. <U>Closing; Effective Time</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
closing of the Merger shall take place on the date hereof (the &ldquo;<B>Closing Date</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
soon as practicable on the Closing Date, the Parties shall cause a certificate of merger (the &ldquo;<B>Certificate of Merger</B>&rdquo;)
to be executed and filed with the Secretary of State of the State of Delaware in accordance with Section 905 of the NYBCL and Section&nbsp;253
of the DGCL. The Merger shall become effective upon the filing of the Certificate of Merger with the Secretary of State of the
State of Delaware or at such other time as the Parties shall agree and as shall be specified in the Certificate of Merger. The
date and time when the Merger shall become effective is herein referred to as the &ldquo;<B>Effective Time</B>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">SECTION 1.03. <U>Certificate of Formation
and Operating Agreement</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
certificate of incorporation of the Company as in effect immediately prior to the Effective Time shall be the certificate of incorporation
of the Surviving Entity, to remain unchanged until thereafter amended in accordance with the terms thereof and as provided by applicable
law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
bylaws of the Company as in effect immediately prior to the Effective Time shall be the bylaws of the Surviving Entity, to remain
unchanged until thereafter amended in accordance with the terms thereof and as provided by applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">SECTION 1.04. <U>Directors; Officers</U>.
The members of the Board immediately prior to the Effective Time shall remain the members of the Board of the Surviving Entity
until the earlier of their respective resignations or removals or until their respective successors are duly appointed. The officers
of the Company immediately prior to the Effective Time shall be the officers of the Surviving Entity, until the earlier of their
resignation or removal or until their respective successors are duly elected and qualified.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">SECTION 1.05. <U>Subsequent Actions</U>.
If, at any time after the Effective Time, the Surviving Entity shall consider or be advised that any deeds, bills of sale, assignments,
assurances, or any other actions or things are necessary or desirable to vest, perfect, or confirm of record or otherwise in the
Surviving Entity its right, title, or interest in, to, or under any of the rights, properties, or assets of GT acquired or to be
acquired by the Surviving Entity as a result of or in connection with the Merger or otherwise to carry out this Agreement, the
officers and manager of the Surviving Entity shall be authorized to execute and deliver, in the name of and on behalf of GT, all
such deeds, bills of sale, assignments, and assurances and to take and do, in the name and on behalf of such limited liability
company or otherwise, all such other actions and things as may be necessary or desirable to vest, perfect, or confirm any and all
right, title and interest in, to and under such rights, properties or assets in the Surviving Entity or otherwise to carry out
this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">SECTION 1.06. <U>Cancellation of Class B
Common Stock of the Company</U>. At the Effective Time, by virtue of the Merger and without any further action on the part of the
Company or GT, each share of class B common stock of the Company held by GT immediately prior to the Effective Time shall thereupon
be automatically transferred to the Surviving Entity without any payment therefor and immediately after such transfer such shares
shall be automatically cancelled and cease to exist.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">SECTION 1.07. <U>Cancellation of Ownership
Interests of GT</U>. At the Effective Time, by virtue of the Merger and without any further action on the part of the Company or
GT, each ownership interest of GT outstanding immediately prior to the Effective Time shall be automatically cancelled and cease
to exist without any payment therefor.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: center">&nbsp;</P>


<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ARTICLE II<BR>
GENERAL PROVISIONS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">SECTION 2.01. <U>Amendment and Modification</U>.
This Agreement may not be amended, modified, or supplemented in any manner, whether by course of conduct or otherwise, except by
an instrument in writing specifically designated as an amendment hereto, signed on behalf of each of the Parties in interest at
the time of the amendment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">SECTION 2.02. <U>Interpretation</U>. When
a reference is made in this Agreement to an Article, Section, or subsection, such reference shall be to an Article, Section, or
subsection of this Agreement unless otherwise indicated. Headings of the Articles and Sections of this Agreement are for the convenience
of reference only and shall be given no substantive or interpretive effect whatsoever. All terms defined in this Agreement shall
have the defined meanings when used in any certificate or other document made or delivered pursuant hereto unless otherwise defined
therein. The definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms and
to the masculine as well as to the feminine and neuter genders of such term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">SECTION 2.03. <U>Entire Agreement</U>. This
Agreement (including the documents referred to herein) constitutes the entire agreement between the Parties and supersedes any
prior understandings, agreements, or representations by or between the Parties, written or oral, to the extent they relate in any
way to the subject matter hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">SECTION 2.04. <U>Assignment</U>. This Agreement
shall be binding upon and inure to the benefit of the Parties named herein and their respective successors and permitted assigns.
Neither Party hereto may assign either this Agreement or any of its rights, interests, or obligations hereunder with the prior
written consent of the other Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">SECTION 2.05. <U>Counterparts</U>. This
Agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement and shall become
effective when one or more counterparts have been signed by each of the Parties and delivered to the other Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">SECTION 2.06. <U>Facsimile or .pdf Signature</U>.
This Agreement may be executed by facsimile or .pdf signature and a facsimile or .pdf signature shall constitute an original for
all purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">SECTION 2.07. <U>No Third-Party Beneficiaries</U>.
This Agreement (including the documents and instruments referred to herein) is not intended to confer upon any person other than
the Parties and their respective successors and permitted assigns any legal or equitable right, benefit or remedy of any nature
under or by reason of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">SECTION 2.08. <U>Governing Law</U>. This
Agreement, and all disputes arising herefrom, shall be governed by, and construed in accordance with, the internal laws of the
State of Delaware, without giving effect to any choice or conflict of law provision or rule (whether of the State of Delaware or
any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Delaware.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">SECTION 2.09. <U>Severability</U>. Whenever
possible, each provision or portion of any provision of this Agreement shall be interpreted in such manner as to be effective and
valid under applicable law, but if any provision or portion of any provision of this Agreement is held to be invalid, illegal,
or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality, or unenforceability
shall not affect any other provision or portion of any provision in such jurisdiction, and this Agreement shall be reformed, construed,
and enforced in such jurisdiction as if such invalid, illegal, or unenforceable provision or portion of any provision had never
been contained herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">SECTION 2.10. <U>Tax Treatment</U>. To the
extent permitted by applicable law, the Parties shall, for federal income tax purposes, treat the merger of GT with SSI GT Merger
Sub LLC (with GT surviving) and the Merger, taken together, as a &ldquo;reorganization&rdquo; (as defined in section 368(a) of
the Internal Revenue Code of 1986, as amended). This Agreement is intended to constitute a &ldquo;plan of reorganization&rdquo;
as described in Treasury Regulation Section 1.368-2(g).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[<I>Signature Pages Follow</I>]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


<!-- Field: Page; Sequence: 4; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">IN WITNESS WHEREOF, the Parties have caused
this Agreement and Plan of Merger to be executed as of the date first written above by their respective officers thereunto duly
authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-transform: uppercase">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-transform: uppercase">SHAKE SHACK INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-transform: uppercase">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-transform: uppercase">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">By:</TD>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name: Ronald Palmese Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title: General Counsel</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: blue">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-transform: uppercase">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-transform: uppercase"><FONT STYLE="color: black">GRAMERCY TAVERN CORP.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-transform: uppercase">&nbsp;</TD>
    <TD STYLE="width: 5%; text-transform: uppercase">&nbsp;</TD>
    <TD STYLE="width: 45%; text-transform: uppercase">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD>Shake Shack Inc.,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>its sole shareholder</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Name: Ronald Palmese Jr.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Title: General Counsel</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 221.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps">[Signature
Page to Agreement and Plan of Merger #2]</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


<!-- Field: Page; Sequence: 5; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: blue"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-7.18
<SEQUENCE>5
<FILENAME>tv528168_ex7-18.htm
<DESCRIPTION>EXHIBIT 7.18
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><BR>
<B>EXHIBIT 7.18</B></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><B>STATE OF DELAWARE<BR>
CERTIFICATE OF OWNERSHIP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #231F20"><B>Subsidiary Into Parent<BR>
Section 253<BR>
<BR>
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><B>CERTIFICATE OF OWNERSHIP<BR>
MERGING<BR>
GRAMERCY TAVERN CORP.<BR>
INTO<BR>
SHAKE SHACK INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-align: center; color: #231F20">(Pursuant to Section
253 of the General Corporation Law of Delaware)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20; text-align: left">Shake Shack Inc., a corporation incorporated
on the 23<SUP>rd</SUP> day of September, 2014 A.D., pursuant to the provisions of the General Corporation Law of the State of Delaware,
does hereby certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 38.15pt; color: #231F20"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in; color: #231F20"><B>FIRST:
</B>Shake Shack Inc. owns 100% of the capital stock of Gramercy Tavern Corp., a corporation incorporated on the 24<SUP>th</SUP>
day of June, 1993 A.D., pursuant to the provisions of the Business Corporation Law of the State of New York, and that Shake Shack
Inc., by a resolution of its Board of Directors duly adopted by written consent on the 16<SUP>th</SUP> day of August, 2019 A.D.,
determined to and effective on the 16<SUP>th</SUP> day of August, 2019 A.D., did merge into itself said Gramercy Tavern Corp.,
which resolution is in the following words to wit:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; color: #231F20; text-align: left"><BR>
<B>WHEREAS,</B> Shake Shack Inc. lawfully owns 100% of the outstanding stock of Gramercy Tavern Corp., a corporation organized
and existing under the laws of the State of New York, and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; color: #231F20"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; color: #231F20; text-align: left"><B>WHEREAS</B> Shake Shack Inc. desires
to merge into itself the said Gramercy Tavern Corp., and to be possessed of all the estate, property, rights, privileges and franchises
of said corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; color: #231F20"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; color: #231F20"><B>NOW, THEREFORE, BE IT RESOLVED</B>,
that Shake Shack Inc. merges into itself said Gramercy Tavern Corp. and assumes all of its liabilities and obligations,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; color: #231F20; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; color: #231F20; text-align: left"><B>FURTHER RESOLVED</B>, that an
authorized officer of Shake Shack Inc. be and he is hereby directed to make and execute a certificate of ownership setting forth
a copy of the resolution to merge said Gramercy Tavern Corp. and assume its liabilities and obligations, and the date of adoption
thereof, and to file the same in the office of the Secretary of State of Delaware, and a certified copy thereof in the office of
the Recorder of Deeds of New Castle County, and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; color: #231F20"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; color: #231F20; text-align: left"><B>FURTHER RESOLVED</B>, that the
officers of Shake Shack Inc. be and they hereby are authorized and directed to do all acts and things whatsoever, whether within
or without the State of Delaware; which may be in any way necessary or proper to effect said merger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in; color: #231F20"><B>SECOND</B>: An Agreement of Merger, dated
as of August 16, 2019, by and between Shake Shack Inc. and Gramercy Tavern Corp. (the &ldquo;<B>Agreement of Merger</B>&rdquo;),
has been approved, adopted, certified, executed, and acknowledged by each of <FONT STYLE="color: #231F20">Shake Shack Inc. </FONT>and
Gramercy Tavern Corp. in accordance with the provisions of Section 905 of the New York Business Corporation Law and Section 253
of the Delaware General Corporation Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in; color: #231F20"><B>THIRD</B>: The name of the surviving
corporation in the merger is Shake Shack Inc., a Delaware corporation (the &ldquo;<B>Surviving Corporation</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in; color: #231F20"><B>FOURTH</B>: The Certificate of Incorporation
of <FONT STYLE="color: #231F20">Shake Shack Inc. </FONT>shall be the Certificate of Incorporation of the Surviving Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in; color: #231F20"><B>FIFTH</B>: The merger shall be effective
on August 16, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in; color: #231F20"><B>SIXTH</B>: The executed Agreement of
Merger is on file at the principal place of business of the Surviving Corporation, the address of which is as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">225 Varick Street, Suite 301<BR>
New York, NY 10014</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: left"><B>SEVENTH</B>: A copy of the Agreement
of Merger will be furnished by the Surviving Corporation, on request and without cost, to any stockholder, member or any person
holding an interest in any of the constituent entities in the merger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in; color: #231F20"><B>IN
WITNESS WHEREOF</B>, said parent corporation has caused its corporate seal to be affixed and this certificate to be signed by an
authorized officer this 16<SUP>th</SUP> day of August, 2019 A.D.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.15pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="text-transform: uppercase">SHAKE SHACK INC., </FONT>a Delaware corporation</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">By:</TD>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name: Randy Garutti</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:&nbsp;&nbsp;Chief Executive Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature Page to Certificate of Ownership]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


<!-- Field: Page; Sequence: 3; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
