X0201 4 2003-09-10 0 0000093859 STEAK & SHAKE CO SNS 0001243506 RISK J FRED 7801 N. PENNSYLVANIA ST. INDIANAPOLIS IN 46240 1 0 0 0 Common Stock 2003-09-10 4 F 0 3298 15.12 D 95148 D Common Stock 2003-09-10 4 M 0 4125 12.09 A 99273 D Common Stock 7726 I See Footnote Option 12.09 2003-09-10 4 D 0 4125 0 D 1998-10-16 2003-10-16 Common Stock 4125 0 D These shares are held by Mr. Risk's spouse. These options vested in equal amounts each anniversary of the grant date and were fully exercisable on 10-16-2002. David C. Milne; Attorney-in-fact 2003-09-11