Shake Shack CFO Katherine Fogertey to Step Down in March 2026
Shake Shack Inc. announced that Chief Financial Officer Katherine Fogertey will step down effective March 4, 2026.
Rhea-AI Filing Summary
Shake Shack Inc. announced that Chief Financial Officer Katherine Fogertey will step down effective March 4, 2026. She will immediately move into a Senior Advisor role to support a smooth transition while the company conducts a search for a new CFO.
Under a Transition and Advisory Agreement dated November 20, 2025, Ms. Fogertey will continue to receive her annual base salary of $618,000 through the resignation date and her outstanding restricted stock unit and performance stock unit awards will continue to vest under existing terms. She will receive 100% of her bonus earned for fiscal year 2025, and restricted stock units scheduled to vest on July 15, 2026 and March 1, 2027 will instead vest on the resignation date. She will not receive a bonus or new equity awards for fiscal year 2026 and will keep current benefits through the resignation date, with limited paid time off accrual.
The company stated that her transition is in the ordinary course of business and not due to any disagreement over accounting, financial reporting, or disclosure matters. A press release announcing her resignation also reiterated previously issued guidance for the fourth quarter of 2025, the full 2025 fiscal year, and three-year financial targets for fiscal years 2025 through 2027.
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Insights
Shake Shack’s CFO will depart in 2026, with guidance reaffirmed and a structured transition plan in place.
Shake Shack disclosed that CFO Katherine Fogertey will step down effective March 4, 2026, moving immediately into a Senior Advisor role. This structure helps maintain continuity over several months while the company searches for a successor, which can reduce operational disruption around financial reporting and capital planning.
The transition package keeps her annual base salary of $618,000 in place through the resignation date and accelerates certain restricted stock units originally vesting in 2026 and 2027. She remains eligible for a fiscal 2025 bonus but receives no bonus or new equity for 2026, which limits incremental long-term dilution from this agreement.
Importantly, the company affirmed that her departure is in the ordinary course and not due to disagreements on accounting or financial policies. The accompanying press release reiterates previously issued guidance for Q4 2025, full-year 2025, and three-year financial targets for fiscal years 2025 through 2027, suggesting no immediate change to management’s financial outlook based on this leadership transition.
8-K Event Classification
FAQ
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When will Shake Shack (SHAK) CFO Katherine Fogertey step down?
What is Katherine Fogertey’s role at Shake Shack (SHAK) during the transition?
How is Shake Shack (SHAK) compensating its CFO during the transition period?
Will Katherine Fogertey receive a 2026 bonus or new equity from Shake Shack (SHAK)?
Did Shake Shack (SHAK) link the CFO’s resignation to any accounting or financial disagreements?
Did Shake Shack (SHAK) change its financial guidance when announcing the CFO transition?
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 25, 2025, Shake Shack Inc. (the “Company”) announced that Katherine Fogertey, its Chief Financial Officer, will step down from the Company effective March 4, 2026 (the “Resignation Date”). Beginning immediately, Ms. Fogertey will transition into a Senior Advisor role to support a smooth handoff and ensure continuity across all financial functions during the transition. The Company plans to launch a search for a new Chief Financial Officer immediately.
Pursuant to the terms of a Transition and Advisory Agreement, entered into on November 20, 2025 (the “Effective Date”) between Ms. Fogertey, on the one hand, and the Company, Shake Shack Enterprises, LLC, and SSE Holdings, LLC, on the other hand, through the Resignation Date, Ms. Fogertey (i) will continue to receive her annual base salary of Six Hundred Eighteen Thousand Dollars ($618,000.00) and (ii) her outstanding restricted stock unit awards and performance stock unit awards will continue in effect in accordance with the terms of the applicable award agreements, including their vesting. In addition, Ms. Fogertey will receive on the first regularly scheduled payroll date following the Resignation Date, one hundred percent (100%) of her bonus earned for fiscal year 2025. Ms. Fogertey’s restricted stock units that were due to vest on July 15, 2026 and March 1, 2027 will be accelerated such that they will vest on the Resignation Date. Ms. Fogertey will not be eligible for any bonus for fiscal year 2026 nor will she receive any restricted stock unit awards or performance stock unit awards for fiscal year 2026. Ms. Fogertey will continue to receive all benefits in which she is currently enrolled through the Resignation Date, except Ms. Fogertey will not accrue any additional paid time off as of the Effective Date other than as required by New York City and New York State law.
Ms. Fogertey’s transition is occurring in the ordinary course of business and is not the result of any dispute or disagreement with the Company on any matter relating to its accounting or financial policies or procedures or its financial statements or disclosure.
A copy of the Transition and Advisory Agreement is filed as Exhibit 10.1 to this Current Report on Form 8-K. This summary of the Transition and Advisory Agreement is qualified in its entirety by the Transition and Advisory Agreement.
On November 25, 2025, the Company issued a press release announcing the resignation of Ms. Fogertey as Chief Financial Officer. The full text of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.
Item 7.01 Regulation FD Disclosure.
On November 25, 2025, the Company issued a press release announcing Ms. Fogertey’s resignation. The press release also reiterated the Company’s previously issued guidance for the fourth quarter of 2025 and fiscal year 2025 and its three-year financial targets for fiscal years 2025 through 2027, which are described in such press release. The press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The press release shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.
This Form 8-K contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to known and unknown risks, uncertainties and other important factors that may cause actual results to be materially different from the statements made herein. All statements other than statements of historical fact included herein are forward-looking statements, including, but not limited to, the guidance provided for the fourth quarter of 2025 and the full 2025 fiscal year and the Company’s three-year financial targets for fiscal years 2025 through 2027.
All forward-looking statements are expressly qualified in their entirety by these cautionary statements. Some of the factors which could cause results to differ materially from the Company's expectations include the Company's ability to develop and open new Shacks on a timely basis, increased costs or shortages or interruptions in the supply and delivery of our products, increased labor costs or shortages, inflationary pressures, the impact of tariffs, the impact of Shack closures, the Company's management of its digital capabilities and expansion into new channels, as well as its kiosk, drive-thru and multiple format investments, the Company’s ability to maintain and grow sales at its existing Shacks, and risks relating to the restaurant industry generally. You should evaluate all forward-looking statements made herein in the context of the risks and uncertainties disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 25, 2024 as filed with the Securities and Exchange Commission.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit Number | |
| 10.1 | Transition and Advisory Agreement, dated November 20, 2025, by and among Katherine Fogertey, Shake Shack Inc., Shack Shake Enterprises, LLC, and SSE Holdings, LLC |
| 99.1 | Press Release dated November 25, 2025 |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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: November 25, 2025 | By: | /s/ Ronald Palmese, Jr. |
| Ronald Palmese, Jr. | ||
| Chief Legal Officer | ||