SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
X	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* WESTERN SIZZLIN CORP (Last) (First) (Middle) 401 ALBEMARLE AVENUE SE (Street) ROANOKE VA 24013 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol STEAK & SHAKE CO [ SNS ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 11/06/2009
	4. If Amendment, Date of Original Filed (Month/Day/Year) 11/13/2009	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $.50(1)	11/06/2009		J(2)		1,322,806	D	$0	114,090	I(3)	By Western Acquisitions L.P.
Common Stock, par value $.50(1)	11/06/2009		J(4)		4,237	A	$0	4,237	D(5)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* WESTERN SIZZLIN CORP (Last) (First) (Middle) 401 ALBEMARLE AVENUE SE (Street) ROANOKE VA 24013 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Western Investments Inc. (Last) (First) (Middle) 401 ALBEMARLE AVENUE SE (Street) ROANOKE VA 24013 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Western Acquisitions L.P. (Last) (First) (Middle) 401 ALBEMARLE AVENUE SE (Street) ROANOKE VA 24013 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* BIGLARI, SARDAR (Last) (First) (Middle) C/O WESTERN SIZZLIN CORP. 401 ALBEMARLE AVENUE SE (Street) ROANOKE VA 24013 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director X 10% Owner X Officer (give title below) Other (specify below) Chairman and CEO

Explanation of Responses:

1. This Form 4 is filed jointly by Western Sizzlin Corp. ("WSC"), Western Acquisitions L.P. ("Western Acquisitions"), Western Investments Inc. ("Western Investments") and Sardar Biglari. Sardar Biglari serves as the Chairman of the Board and Chief Executive Officer of the Issuer. WSC, Western Acquisitions and Western Investments no longer beneficially own in excess of 10% of the outstanding shares of Common Stock of the Issuer and, accordingly, are no longer subject to the reporting requirements of Section 16 of the Securities Exchange Act of 1934, as amended ("Section 16"), with respect to securities of the Issuer. Sardar Biglari, as the Chairman of the Board and Chief Executive Officer of the Issuer, remains subject to the reporting requirements of Section 16 and will continue to file statements of changes in beneficial ownership to the extent required thereunder.

2. Transaction constitutes a special dividend by WSC payable to stockholders of WSC on a pro-rata basis, for no additional consideration, in the form of shares of Common Stock of the Issuer (the "Special Dividend"). The Special Dividend was made pursuant to the terms of that certain merger agreement, dated October 22, 2009, by and among WSC, Grill Acquisition Corporation and the Issuer.

3. Shares owned directly by Western Acquisitions. Western Investments is the general partner of Western Acquisitions and a wholly-owned subsidiary of WSC. Sardar Biglari is the Chairman and Chief Executive Officer of each of Western Investments and WSC and has been delegated investment discretion over the securities owned by WSC. Accordingly, WSC, Western Investments and Sardar Biglari may be deemed to beneficially own the shares held directly by Western Acquisitions. Each of WSC, Western Investments and Sardar Biglari disclaims beneficial ownership of the shares held directly by Western Acquisitions except to the extent of his or its pecuniary interest therein.

4. Shares of the Issuer received by the Reporting Person as a result of the Special Dividend.

5. Shares owned directly by WSC. Sardar Biglari is the Chairman and Chief Executive Officer of WSC and has been delegated investment discretion over the securities owned by WSC. Accordingly, Sardar Biglari may be deemed to beneficially own the shares held directly by WSC. Sardar Biglari disclaims beneficial ownership of the shares held directly by WSC except to the extent of his pecuniary interest therein.

	By: Western Sizzlin Corp., By: /s/ Sardar Biglari, Chairman and Chief Executive Officer	01/25/2010
	By: Western Investments Inc., By: /s/ Sardar Biglari, Chairman and Chief Executive Officer	01/25/2010
	By: Western Acquisitions L.P., By: Western Investments Inc., General Partner, By: /s/ Sardar Biglari, Chairman and Chief Executive Officer	01/25/2010
	/s/ Biglari, Sardar	01/25/2010
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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