Shake Shack Inc. Announces Board and Executive Changes
Ticker: SHAK · Form: 8-K · Filed: Apr 17, 2024 · CIK: 1620533
| Field | Detail |
|---|---|
| Company | Shake Shack Inc. (SHAK) |
| Form Type | 8-K |
| Filed Date | Apr 17, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, executive-compensation, board-of-directors
Related Tickers: SHAK
TL;DR
Shake Shack board shake-up and comp changes effective April 12.
AI Summary
Shake Shack Inc. announced on April 12, 2024, changes in its board of directors and executive compensation. Specifically, the company elected new directors and appointed new officers, alongside adjustments to their compensatory arrangements. These changes are effective as of April 12, 2024.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — The filing reports routine corporate governance changes and executive appointments, which typically carry low inherent risk.
Key Numbers
- 001-36823 — SEC File Number (Identifies the company's filing with the SEC.)
- 47-1941186 — IRS Employer Identification No. (Company's tax identification number.)
Key Players & Entities
- Shake Shack Inc. (company) — Registrant
- Delaware (jurisdiction) — State of incorporation
- New York (location) — Principal executive offices
FAQ
What specific roles were filled or changed among the officers?
The filing indicates the appointment of certain officers and changes to compensatory arrangements, but does not specify the exact roles or individuals involved in this 8-K.
Who are the newly elected directors?
The filing states that directors were elected, but does not name the individuals in this particular 8-K filing.
What is the effective date of these changes?
The changes reported in this 8-K are effective as of April 12, 2024.
What is the company's principal executive office address?
The principal executive offices are located at 225 Varick Street, Suite 301, New York, New York 10014.
What is the nature of the compensatory arrangements being adjusted?
The filing mentions adjustments to compensatory arrangements of certain officers but does not provide specific details on the nature of these arrangements.
Filing Stats: 631 words · 3 min read · ~2 pages · Grade level 11.5 · Accepted 2024-04-17 16:49:17
Key Financial Figures
- $0.001 — tered Class A Common Stock, par value $0.001 SHAK New York Stock Exchange Indica
Filing Documents
- tm2412065d1_8k.htm (8-K) — 31KB
- image_001.jpg (GRAPHIC) — 5KB
- 0001104659-24-048361.txt ( ) — 212KB
- shak-20240411.xsd (EX-101.SCH) — 3KB
- shak-20240411_lab.xml (EX-101.LAB) — 33KB
- shak-20240411_pre.xml (EX-101.PRE) — 22KB
- tm2412065d1_8k_htm.xml (XML) — 4KB
02 Departure
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers . On April 12, 2024, after more than nine years of service, Jonathan Sokoloff informed the Board of Directors (the "Board") of Shake Shack Inc. (the "Company") of his intention to step down from the Board of the Company and as a Class II director, effective immediately prior to the 2024 Annual Meeting of Stockholders (the "2024 Annual Meeting"). Mr Sokoloff also will step down as a member of the Board's Compensation Committee at the same time. As previously announced in a Current Report on Form 8-K filed with the Securities and Exchange Commission on February 2, 2024, Jenna Lyons and Robert Vivian informed the Board of the Company of each of their intentions to step down from the Board immediately prior to the 2024 Annual Meeting and to not stand for re-election as Class III directors at the 2024 Annual Meeting. As such, the Board determined to reduce the size of the Board from thirteen (13) to eleven (11) directors, effective immediately prior to the 2024 Annual Meeting. With Mr. Sokoloff's resignation from the Board, the Board has determined to reduce the size of the Board from eleven (11) to ten (10) directors, effective immediately prior to the 2024 Annual Meeting. Following the departures of Ms. Lyons and Messrs. Sokoloff and Vivian from the Board, the Board will consist of four Class I directors, three Class II Directors, and three Class III directors. Mr. Sokoloff's decision to step down from the Board is not the result of any dispute or disagreement with the Company or its Board.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Shake Shack Inc. (Registrant) Dated: April 17, 2024 By: /s/ Ronald Palmese, Jr. Ronald Palmese, Jr. Chief Legal Officer