Shake Shack 2016 Annual Report Download - page 45

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Table of Contents
Part II
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and
Issuer Purchases of Equity Securities.
MARKET INFORMATION
On January 30, 2015, our Class A common stock began trading on the New York Stock Exchange under the symbol "SHAK." Prior to that time, there was no
public market for our stock. The table below sets forth the high and low sales prices of our common stock as reported on the New York Stock Exchange during
each quarter of 2015 .
2015
High
Low
First Quarter (January 30, 2015 – April 1, 2015) $ 52.50
$ 38.63
Second Quarter $ 96.75
$ 47.80
Third Quarter $ 75.90
$ 41.50
Fourth Quarter $ 53.50
$ 37.60
Our Class B common stock is not listed nor traded on any stock exchange.
HOLDERS OF RECORD
As of March 16, 2016, there were 49 shareholders of record of our Class A common stock. The number of record holders does not include persons who held shares
of our Class A common stock in nominee or "street name" accounts through brokers. As of March 16, 2016, there were 44 shareholders of record of our Class B
common stock.
DIVIDEND POLICY
We currently intend to retain all available funds and any future earnings for use in the operation of our business, and therefore we do not currently expect to pay
any cash dividends on our Class A common stock. Holders of our Class B common stock are not entitled to participate in any dividends declared by our Board of
Directors. Any future determination to pay dividends to holders of Class A common stock will be at the discretion of our Board of Directors and will depend upon
many factors, including our results of operations, financial condition, capital requirements, restrictions in SSE Holdings' debt agreements and other factors that our
Board of Directors deems relevant. We are a holding company, and substantially all of our operations are carried out by SSE Holdings and its subsidiaries.
Additionally, under the Revolving Credit Facility, SSE Holdings is currently restricted from paying cash dividends, and we expect these restrictions to continue in
the future, which may in turn limit our ability to pay dividends on our Class A common stock.
43 | Shake Shack Inc. Form 10-K