secwatch.observer — SEC 8-K summary
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Issuer:     Shake Shack Inc. (SHAK)
CIK:        0001620533
Form:       8-K
Filed at:   2023-08-03T23:59:59+00:00
Accession:  0001104659-23-087028
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Shake Shack COO Zachary Koff to depart; severance includes base salary, bonus, accelerated RSUs
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- COO Zachary Koff leaving effective Sept 7, 2023; will transition duties through that date.
- Receives lump-sum base salary of $386,250 plus accelerated vesting of 2020-2022 RSUs and 2021 PSU awards.
- Eligible for 2/3 of Q3 FY2023 performance-based cash bonus if company meets goals.
- COBRA premium reimbursement for 12 months post-separation, ceasing if he obtains other employment.
- Non-compete permits competing in fast-casual business but forfeits severance; subject to confidentiality/non-solicitation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1620533/000110465923087028/0001104659-23-087028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1620533/000110465923087028/tm2322704d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-087028

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer