13D Filing: Select Equity Group and Shake Shack Inc. (SHAK)

CUSIP No. 819047 101

Schedule 13D

Page 11 of 14 Pages

Reporting Persons	Number of Shares With Sole Voting and Dispositive Power	Number* of Shares With Shared Voting and Dispositive Power	Aggregate Number* of Shares Beneficially Owned	Percentage of Class Beneficially Owned
Select Equity	0	1,038,131	1,038,131	2.8%
SEG	0	101,901	101,901	0.3%
SEG Holdings	0	101,901	101,901	0.3%
SEG II	0	369,868	369,868	1.0%
SEG II Holdings	0	369,868	369,868	1.0%
SEG Offshore	0	566,362	566,362	1.5%
George S. Loening	0	1,038,131	1,038,131	2.8%
Evan C. Guillemin**	8,251	0	8,251	0.02%
Other directors and officers of SEG Offshore	0	566,362	566,362	1.5%

*All share numbers presented in this table assume full conversion of B-Common and LLC Interests to A-Common.

**Excludes 2,003 shares of A-Common Stock that Mr. Guillemin will have the right to acquire within 60 days of April 17, 2017, as reported in the Issuer’s Form 10-Q for the quarter ended March 29, 2017.

Due to their relationships with the SEG Direct Holders, each of Select Equity, SEG Holdings, SEG II Holdings and Mr. Loening may be deemed to have shared voting and investment power with respect to the Equity Interests beneficially owned by the SEG Direct Holders.  As such, Select Equity, SEG Holdings, SEG II Holdings and Mr. Loening may be deemed to have shared beneficial ownership over such Equity Interests.  SEG and SEG Holdings disclaim beneficial ownership of the Equity Interests held directly by SEG II and SEG Offshore; SEG II and SEG II Holdings disclaim beneficial ownership of the Equity Interests held directly by SEG and SEG Offshore; and SEG Offshore disclaims beneficial ownership of the Equity Interests held directly by SEG and SEG II.