person · Reporting owner

BIGLARI, SARDAR

Disclosed activity across 6 companies

Tapewire entity: 24686
SEC CIK: 0001334430

Reported relationships

Latest disclosed role at each company.

Company	Last reported as	Report date	Published
ABRAXAS PETROLEUM CORPAXAS · Entity 117496	Director · 10% owner	October 26, 2022	October 27, 2022
BIGLARI HOLDINGS INC.BH · Entity 168565	Director · 10% owner	March 06, 2018	March 08, 2018
Biglari Holdings Inc.BH · Entity 4809	Director · Chairman and CEO · 10% owner	June 04, 2026	June 05, 2026
El Pollo Loco Holdings, Inc.LOCO · Entity 5532	10% owner	August 07, 2026	August 11, 2026

Disclosed balances

About these balances

Latest available filing per company, not a reconstructed current portfolio. Matching sequences show the last reported balance with all source rows expandable; grouping alone does not establish account ownership. Do not add unresolved positions together. Filings may omit unchanged positions, and amendments may correct only part of an older disclosure. Jointly reported shares are not necessarily this owner's personal holdings.

ABRAXAS PETROLEUM CORP

Report date October 26, 2022 · Filed October 27, 2022

Security / award	Ownership account	Disclosed shares / units	Disclosure context
Series A Preferred StockSEC Table I · non-derivative	IndirectSee footnote	0	Reported balance After 2022-10-26 transaction · row 1 Account identity is unresolved; indirect or unspecified ownership is not merged. 1 source row Row 1 · 2022-10-26 · Other · Disposed 685,505 · Balance 0 F1: On October 26, 2022, pursuant to an Exchange Agreement, dated September 27, 2022, by and among Biglari Holdings Inc. ("Biglari Holdings") and the Issuer, Biglari Holdings acquired 90,631,287 shares of Common Stock from the Issuer in exchange for 685,505 shares of Series A Preferred Stock. F2: Following the transactions reported herein, includes (i) 90,631,287 shares of Common Stock held of record by Biglari Holdings and (ii) 5 shares of Common Stock held of record by The Lion Fund, L.P. ("The Lion Fund"). The reporting person is Chairman and Chief Executive Officer of Biglari Holdings and maintains investment and voting control of the securities held by Biglari Holdings. The reporting person is also the sole member, Chairman and Chief Executive Officer of Biglari Capital Corp., which is the general partner of The Lion Fund. By virtue of these relationships, the reporting person may be deemed to share beneficial ownership of the securities reported herein, but disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.
Common StockSEC Table I · non-derivative	IndirectSee footnote	90,631,292	Reported balance After 2022-10-26 transaction · row 2 Account identity is unresolved; indirect or unspecified ownership is not merged. 1 source row Row 2 · 2022-10-26 · Other · Acquired 90,631,287 · Balance 90,631,292 F1: On October 26, 2022, pursuant to an Exchange Agreement, dated September 27, 2022, by and among Biglari Holdings Inc. ("Biglari Holdings") and the Issuer, Biglari Holdings acquired 90,631,287 shares of Common Stock from the Issuer in exchange for 685,505 shares of Series A Preferred Stock. F2: Following the transactions reported herein, includes (i) 90,631,287 shares of Common Stock held of record by Biglari Holdings and (ii) 5 shares of Common Stock held of record by The Lion Fund, L.P. ("The Lion Fund"). The reporting person is Chairman and Chief Executive Officer of Biglari Holdings and maintains investment and voting control of the securities held by Biglari Holdings. The reporting person is also the sole member, Chairman and Chief Executive Officer of Biglari Capital Corp., which is the general partner of The Lion Fund. By virtue of these relationships, the reporting person may be deemed to share beneficial ownership of the securities reported herein, but disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.

Filing footnotes · ownership attribution and instrument terms

F1: On October 26, 2022, pursuant to an Exchange Agreement, dated September 27, 2022, by and among Biglari Holdings Inc. ("Biglari Holdings") and the Issuer, Biglari Holdings acquired 90,631,287 shares of Common Stock from the Issuer in exchange for 685,505 shares of Series A Preferred Stock.

F2: Following the transactions reported herein, includes (i) 90,631,287 shares of Common Stock held of record by Biglari Holdings and (ii) 5 shares of Common Stock held of record by The Lion Fund, L.P. ("The Lion Fund"). The reporting person is Chairman and Chief Executive Officer of Biglari Holdings and maintains investment and voting control of the securities held by Biglari Holdings. The reporting person is also the sole member, Chairman and Chief Executive Officer of Biglari Capital Corp., which is the general partner of The Lion Fund. By virtue of these relationships, the reporting person may be deemed to share beneficial ownership of the securities reported herein, but disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.

BIGLARI HOLDINGS INC.

Report date March 06, 2018 · Filed March 08, 2018

Jointly reported with BIGLARI CAPITAL CORP., LION FUND II, L.P.

Security / award	Ownership account	Disclosed shares / units	Disclosure context
Common Stock, stated value $0.50 per shareSEC Table I · non-derivative	IndirectBy The Lion Fund II, L.P.	726,218	Last balance in matching sequence After 2018-03-08 transaction · row 3 Source-order balances reconcile. Account continuity and personal attribution are not independently verified. 3 source rows Row 1 · 2018-03-06 · Purchase · Acquired 687 · Balance 725,068 F1: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F2: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $418.12 to $420.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the U.S. Securities and Exchange Commission ("SEC"), upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp ("BCC") is the general partner of the Lion Fund II. Sardar Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II. Row 2 · 2018-03-07 · Purchase · Acquired 1,061 · Balance 726,129 F1: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F4: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $414.80 to $420.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp ("BCC") is the general partner of the Lion Fund II. Sardar Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II. Row 3 · 2018-03-08 · Purchase · Acquired 89 · Balance 726,218 F1: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F3: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp ("BCC") is the general partner of the Lion Fund II. Sardar Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II.
Common Stock, stated value $0.50 per shareSEC Table I · non-derivative	Direct	1	Reported balance Holding disclosure · report date 2018-03-06 · row 4 Holding and transaction disclosures are not merged. 1 source row Row 4 · Balance 1
Common Stock, stated value $0.50 per shareSEC Table I · non-derivative	IndirectSee Footnote.	31,018	Reported balance Holding disclosure · report date 2018-03-06 · row 5 Holding and transaction disclosures are not merged. 1 source row Row 5 · Balance 31,018 F5: Shares owned directly by BCC. Mr. Biglari may be deemed a beneficial owner of the shares of Common Stock of the Issuer owned directly by BCC.
Common Stock, stated value $0.50 per shareSEC Table I · non-derivative	IndirectBy The Lion Fund, L.P.	365,726	Reported balance Holding disclosure · report date 2018-03-06 · row 6 Holding and transaction disclosures are not merged. 1 source row Row 6 · Balance 365,726 F6: Shares owned directly by the The Lion Fund, L.P. (the "Lion Fund I"). BCC is the general partner of the Lion Fund I. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund I.

Filing footnotes · ownership attribution and instrument terms

F1: These transactions were effected pursuant to a Rule 10b5-1 trading plan.

F2: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $418.12 to $420.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the U.S. Securities and Exchange Commission ("SEC"), upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F3: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp ("BCC") is the general partner of the Lion Fund II. Sardar Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II.

F4: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $414.80 to $420.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F5: Shares owned directly by BCC. Mr. Biglari may be deemed a beneficial owner of the shares of Common Stock of the Issuer owned directly by BCC.

F6: Shares owned directly by the The Lion Fund, L.P. (the "Lion Fund I"). BCC is the general partner of the Lion Fund I. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund I.

Biglari Holdings Inc.

Report date June 04, 2026 · Filed June 05, 2026

Jointly reported with BIGLARI CAPITAL CORP., LION FUND, L.P.

Security / award	Ownership account	Disclosed shares / units	Disclosure context
Class B common stockSEC Table I · non-derivative	IndirectBy The Lion Fund, L.P.	1,400,382	Last balance in matching sequence After 2026-06-05 transaction · row 2 Source-order balances reconcile. Account continuity and personal attribution are not independently verified. 2 source rows Row 1 · 2026-06-04 · Purchase · Acquired 1,743 · Balance 1,399,847 F3: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $284.99 to $287.50. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F2: Shares owned directly by The Lion Fund, L.P. (the "Lion Fund"). BCC is the general partner of the Lion Fund. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund. Row 2 · 2026-06-05 · Purchase · Acquired 535 · Balance 1,400,382 F4: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $293.34 to $298.81. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F2: Shares owned directly by The Lion Fund, L.P. (the "Lion Fund"). BCC is the general partner of the Lion Fund. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund.
Class A common stockSEC Table I · non-derivative	IndirectBy The Lion Fund, L.P.	128,811.7	Reported balance Holding disclosure · report date 2026-06-04 · row 3 Holding and transaction disclosures are not merged. 1 source row Row 3 · Balance 128,811.7 F2: Shares owned directly by The Lion Fund, L.P. (the "Lion Fund"). BCC is the general partner of the Lion Fund. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund.
Class A common stockSEC Table I · non-derivative	Direct	0.1	Reported balance Holding disclosure · report date 2026-06-04 · row 4 Holding and transaction disclosures are not merged. 1 source row Row 4 · Balance 0.1
Class A common stockSEC Table I · non-derivative	IndirectBy Biglari Capital Corp.	25,663.1	Reported balance Holding disclosure · report date 2026-06-04 · row 5 Holding and transaction disclosures are not merged. 1 source row Row 5 · Balance 25,663.1 F1: Shares owned directly by Biglari Capital Corp. ("BCC"), including shares of Class A and Class B common stock of the Issuer transferred for no consideration by Sardar Biglari to BCC. Mr. Biglari may be deemed a beneficial owner of the shares of Class A and Class B common stock of the Issuer owned directly by BCC.
Class B common stockSEC Table I · non-derivative	Direct	1	Reported balance Holding disclosure · report date 2026-06-04 · row 6 Holding and transaction disclosures are not merged. 1 source row Row 6 · Balance 1
Class B common stockSEC Table I · non-derivative	IndirectBy Biglari Capital Corp.	71,855	Reported balance Holding disclosure · report date 2026-06-04 · row 7 Holding and transaction disclosures are not merged. 1 source row Row 7 · Balance 71,855 F1: Shares owned directly by Biglari Capital Corp. ("BCC"), including shares of Class A and Class B common stock of the Issuer transferred for no consideration by Sardar Biglari to BCC. Mr. Biglari may be deemed a beneficial owner of the shares of Class A and Class B common stock of the Issuer owned directly by BCC.

Filing footnotes · ownership attribution and instrument terms

F1: Shares owned directly by Biglari Capital Corp. ("BCC"), including shares of Class A and Class B common stock of the Issuer transferred for no consideration by Sardar Biglari to BCC. Mr. Biglari may be deemed a beneficial owner of the shares of Class A and Class B common stock of the Issuer owned directly by BCC.

F2: Shares owned directly by The Lion Fund, L.P. (the "Lion Fund"). BCC is the general partner of the Lion Fund. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund.

F3: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $284.99 to $287.50. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

F4: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $293.34 to $298.81. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

El Pollo Loco Holdings, Inc.

Report date August 07, 2026 · Filed August 11, 2026

Jointly reported with BIGLARI CAPITAL CORP., LION FUND II, L.P., Biglari Holdings Inc., Biglari Reinsurance Ltd., Biglari Insurance Group Inc.

Security / award	Ownership account	Disclosed shares / units	Disclosure context
Common Stock, par value $0.01 per shareSEC Table I · non-derivative	IndirectBy Biglari Reinsurance Ltd.	315,118	Reported balance After 2026-08-07 transaction · row 1 Joint disclosure: continuity of the reported position is unresolved; see ownership footnotes. 1 source row Row 1 · 2026-08-07 · Sale · Disposed 550 · Balance 315,118 F1: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $17.05 to $17.13. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. F2: Shares owned directly by Biglari Reinsurance Ltd. ("Biglari Reinsurance"). Biglari Insurance Group Inc. ("Biglari Insurance") is the direct parent company of Biglari Reinsurance. Biglari Holdings Inc. ("Biglari Holdings") is the direct parent company of Biglari Insurance. Mr. Biglari is the Chairman and Chief Executive Officer of Biglari Holdings. By virtue of these relationships, Biglari Insurance, Biglari Holdings and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by Biglari Reinsurance.
Common Stock, par value $0.01 per shareSEC Table I · non-derivative	IndirectBy First Guard Insurance Company	65,872	Reported balance After 2026-08-07 transaction · row 2 Joint disclosure: continuity of the reported position is unresolved; see ownership footnotes. 1 source row Row 2 · 2026-08-07 · Sale · Disposed 550 · Balance 65,872 F1: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $17.05 to $17.13. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. F3: Shares owned directly by First Guard Insurance Company ("First Guard"). Biglari Reinsurance is the direct parent company of First Guard. Biglari Insurance is the direct parent company of Biglari Reinsurance. Biglari Holdings is the direct parent company of Biglari Insurance. Mr. Biglari is the Chairman and Chief Executive Officer of Biglari Holdings and has investment discretion over the securities owned by First Guard. By virtue of these relationships, Biglari Reinsurance, Biglari Insurance, Biglari Holdings and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by First Guard.
Common Stock, par value $0.01 per shareSEC Table I · non-derivative	IndirectBy The Lion Fund II, L.P.	3,538,961	Reported balance Holding disclosure · report date 2026-08-07 · row 3 Holding and transaction disclosures are not merged. 1 source row Row 3 · Balance 3,538,961 F4: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp. ("BCC") is the general partner of the Lion Fund II. Mr. Biglari is the sole owner, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II.

Filing footnotes · ownership attribution and instrument terms

F1: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $17.05 to $17.13. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F2: Shares owned directly by Biglari Reinsurance Ltd. ("Biglari Reinsurance"). Biglari Insurance Group Inc. ("Biglari Insurance") is the direct parent company of Biglari Reinsurance. Biglari Holdings Inc. ("Biglari Holdings") is the direct parent company of Biglari Insurance. Mr. Biglari is the Chairman and Chief Executive Officer of Biglari Holdings. By virtue of these relationships, Biglari Insurance, Biglari Holdings and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by Biglari Reinsurance.

F3: Shares owned directly by First Guard Insurance Company ("First Guard"). Biglari Reinsurance is the direct parent company of First Guard. Biglari Insurance is the direct parent company of Biglari Reinsurance. Biglari Holdings is the direct parent company of Biglari Insurance. Mr. Biglari is the Chairman and Chief Executive Officer of Biglari Holdings and has investment discretion over the securities owned by First Guard. By virtue of these relationships, Biglari Reinsurance, Biglari Insurance, Biglari Holdings and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by First Guard.

F4: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp. ("BCC") is the general partner of the Lion Fund II. Mr. Biglari is the sole owner, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II.

Past disclosures · reporting ended (2)

No longer tracked through insider filings. These historical balances do not imply present ownership or a zero position.

BLOOMIA HOLDINGS, INC.

Report date January 11, 2018 · Filed January 17, 2018

Jointly reported with BIGLARI CAPITAL CORP., LION FUND II, L.P.

Section 16 reporting ended · disclosed 2018-01-17. Current position is not established by this disclosure.

Security / award	Ownership account	Disclosed shares / units	Disclosure context
Common Stock, par value $0.01SEC Table I · non-derivative	IndirectBy The Lion Fund II, L.P.	1,123,047	Last balance in matching sequence After 2018-01-12 transaction · row 2 Source-order balances reconcile. Account continuity and personal attribution are not independently verified. 2 source rows Row 1 · 2018-01-11 · Sale · Disposed 2,818 · Balance 1,179,492 F1: This Form 4 is filed jointly by The Lion Fund II, L.P. (the "Lion Fund II"), Biglari Capital Corp. ("BCC") and Sardar Biglari. Each of the Lion Fund II, BCC and Mr. Biglari is a member of a Section 13(d) group that owns more than 10% of the Issuer's outstanding shares of Common Stock. Each of the Lion Fund II, BCC and Mr. Biglari disclaims beneficial ownership of the shares of Common Stock reported herein except to the extent of its or his pecuniary interest therein. F3: These shares were sold in multiple transactions with all executions at $1.22. F2: Shares owned directly by the Lion Fund II. BCC is the general partner of the Lion Fund II. Mr. Biglari is the Chairman and Chief Executive Officer of BCC and has investment discretion over the securities owned by the Lion Fund II. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II. Row 2 · 2018-01-12 · Sale · Disposed 56,445 · Balance 1,123,047 F1: This Form 4 is filed jointly by The Lion Fund II, L.P. (the "Lion Fund II"), Biglari Capital Corp. ("BCC") and Sardar Biglari. Each of the Lion Fund II, BCC and Mr. Biglari is a member of a Section 13(d) group that owns more than 10% of the Issuer's outstanding shares of Common Stock. Each of the Lion Fund II, BCC and Mr. Biglari disclaims beneficial ownership of the shares of Common Stock reported herein except to the extent of its or his pecuniary interest therein. F4: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.22 to $1.24. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 4 to this Form 4. F2: Shares owned directly by the Lion Fund II. BCC is the general partner of the Lion Fund II. Mr. Biglari is the Chairman and Chief Executive Officer of BCC and has investment discretion over the securities owned by the Lion Fund II. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II.
Common Stock, par value $0.01SEC Table I · non-derivative	Direct	11,788	Reported balance Holding disclosure · report date 2018-01-11 · row 3 Holding and transaction disclosures are not merged. 1 source row Row 3 · Balance 11,788 F1: This Form 4 is filed jointly by The Lion Fund II, L.P. (the "Lion Fund II"), Biglari Capital Corp. ("BCC") and Sardar Biglari. Each of the Lion Fund II, BCC and Mr. Biglari is a member of a Section 13(d) group that owns more than 10% of the Issuer's outstanding shares of Common Stock. Each of the Lion Fund II, BCC and Mr. Biglari disclaims beneficial ownership of the shares of Common Stock reported herein except to the extent of its or his pecuniary interest therein.

Filing footnotes · ownership attribution and instrument terms

F1: This Form 4 is filed jointly by The Lion Fund II, L.P. (the "Lion Fund II"), Biglari Capital Corp. ("BCC") and Sardar Biglari. Each of the Lion Fund II, BCC and Mr. Biglari is a member of a Section 13(d) group that owns more than 10% of the Issuer's outstanding shares of Common Stock. Each of the Lion Fund II, BCC and Mr. Biglari disclaims beneficial ownership of the shares of Common Stock reported herein except to the extent of its or his pecuniary interest therein.

F2: Shares owned directly by the Lion Fund II. BCC is the general partner of the Lion Fund II. Mr. Biglari is the Chairman and Chief Executive Officer of BCC and has investment discretion over the securities owned by the Lion Fund II. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II.

F3: These shares were sold in multiple transactions with all executions at $1.22.

F4: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.22 to $1.24. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 4 to this Form 4.

CRACKER BARREL OLD COUNTRY STORE, INC

Report date August 08, 2019 · Filed August 12, 2019

Jointly reported with BIGLARI CAPITAL CORP., LION FUND II, L.P.

Section 16 reporting ended · disclosed 2019-08-12. Current position is not established by this disclosure.

Security / award	Ownership account	Disclosed shares / units	Disclosure context
Common Stock, par value $0.01SEC Table I · non-derivative	IndirectBy The Lion Fund II, L.P.	2,232,454	Last balance in matching sequence After 2019-08-09 transaction · row 2 Source-order balances reconcile. Account continuity and personal attribution are not independently verified. 2 source rows Row 1 · 2019-08-08 · Sale · Disposed 68,630 · Balance 2,422,464 F1: This Form 4 is filed jointly by The Lion Fund II, L.P. ("TLF II"), Biglari Capital Corp. ("BCC") and Sardar Biglari. Each of TLF II, BCC and Mr. Biglari is a member of a Section 13(d) group. As a result of the reported transactions, TLF II, BCC and Mr. Biglari no longer own 10% of the Issuer's outstanding shares of Common Stock and, accordingly, are no longer subject to reporting requirements under Section 16 of the Securities Exchange Act of 1934, as amended, with respect to ownership of Common Stock of the Issuer. Each of TLF II, BCC and Mr. Biglari disclaims beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein. F3: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $169.40 to $170.83 per share. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 3 to this Form 4. F2: Securities owned directly by TLF II. BCC is the general partner of TLF II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the securities of the Issuer owned directly by TLF II. Row 2 · 2019-08-09 · Sale · Disposed 190,010 · Balance 2,232,454 F1: This Form 4 is filed jointly by The Lion Fund II, L.P. ("TLF II"), Biglari Capital Corp. ("BCC") and Sardar Biglari. Each of TLF II, BCC and Mr. Biglari is a member of a Section 13(d) group. As a result of the reported transactions, TLF II, BCC and Mr. Biglari no longer own 10% of the Issuer's outstanding shares of Common Stock and, accordingly, are no longer subject to reporting requirements under Section 16 of the Securities Exchange Act of 1934, as amended, with respect to ownership of Common Stock of the Issuer. Each of TLF II, BCC and Mr. Biglari disclaims beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein. F4: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $170.00 to 172.72 per share. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 4 to this Form 4. F2: Securities owned directly by TLF II. BCC is the general partner of TLF II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the securities of the Issuer owned directly by TLF II.

Filing footnotes · ownership attribution and instrument terms

F1: This Form 4 is filed jointly by The Lion Fund II, L.P. ("TLF II"), Biglari Capital Corp. ("BCC") and Sardar Biglari. Each of TLF II, BCC and Mr. Biglari is a member of a Section 13(d) group. As a result of the reported transactions, TLF II, BCC and Mr. Biglari no longer own 10% of the Issuer's outstanding shares of Common Stock and, accordingly, are no longer subject to reporting requirements under Section 16 of the Securities Exchange Act of 1934, as amended, with respect to ownership of Common Stock of the Issuer. Each of TLF II, BCC and Mr. Biglari disclaims beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein.

F2: Securities owned directly by TLF II. BCC is the general partner of TLF II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the securities of the Issuer owned directly by TLF II.

F3: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $169.40 to $170.83 per share. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 3 to this Form 4.

F4: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $170.00 to 172.72 per share. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 4 to this Form 4.

Transaction history

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Purchases/sales include open-market and private transactions. Plan disclosure applies to the filing; individual rows may differ. “Not disclosed” is not “unplanned.”

The cutoff filters transaction history only. Company summaries and owner relationships show the latest available disclosures. Parser corrections can improve historical records.

Transaction date	Company	Activity / security	Shares / units	Reported price	Reported value	Details
December 13, 2018 Filed Dec 14, 2018 02:09 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	350	$125.99	$44,096.50	Disclosure SEC source: 0000921895-18-003300 · form407428007_12132018.xml · nonDerivative · entry 7 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 351 F7 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $125.50 to $126.77. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. Read SEC document
December 13, 2018 Filed Dec 14, 2018 02:09 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	350	$704.15	$246,452.50	Disclosure SEC source: 0000921895-18-003300 · form407428007_12132018.xml · nonDerivative · entry 3 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 1,000.1 F3 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $695.00 to $707.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. Read SEC document
December 12, 2018 Filed Dec 14, 2018 02:15 UTC	CRACKER BARREL OLD COUNTRY STORE, INC CBRL · Entity 4829	SaleCommon Stock, par value $0.01	80,000	$175.20	$14,016,000.00	Disclosure SEC source: 0000921895-18-003301 · form407428021_12132018.xml · nonDerivative · entry 2 BIGLARI, SARDAR · CIK 0001334430 · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 4,397,076 F1 · security: This Form 4 is filed jointly by The Lion Fund II, L.P. ("TLF II"), Biglari Capital Corp. ("BCC") and Sardar Biglari. Each of TLF II, BCC and Mr. Biglari is a member of a Section 13(d) group that owns more than 10% of the Issuer's outstanding shares of Common Stock. Each of TLF II, BCC and Mr. Biglari disclaims beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein. F4 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $174.00 to $176.08 per share. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 4 to this Form 4. F2 · ownership.direct: Securities owned directly by TLF II. BCC is the general partner of TLF II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the securities of the Issuer owned directly by TLF II. Read SEC document
December 12, 2018 Filed Dec 14, 2018 02:09 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	526	$709.68	$373,291.68	Disclosure SEC source: 0000921895-18-003300 · form407428007_12132018.xml · nonDerivative · entry 2 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 650.1 F2 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $705.00 to $710.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. Read SEC document
December 11, 2018 Filed Dec 14, 2018 02:15 UTC	CRACKER BARREL OLD COUNTRY STORE, INC CBRL · Entity 4829	SaleCall Option (Obligation to Sell) · Derivative	5	$130.00 Strike: $210.00	$650.00	Disclosure SEC source: 0000921895-18-003301 · form407428021_12132018.xml · derivative · entry 4 BIGLARI, SARDAR · CIK 0001334430 · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 5 Underlying: Common Stock · 500 shares Expires 2019-06-21 F2 · ownership.direct: Securities owned directly by TLF II. BCC is the general partner of TLF II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the securities of the Issuer owned directly by TLF II. Read SEC document
December 11, 2018 Filed Dec 14, 2018 02:15 UTC	CRACKER BARREL OLD COUNTRY STORE, INC CBRL · Entity 4829	SaleCommon Stock, par value $0.01	17,000	$174.88	$2,972,960.00	Disclosure SEC source: 0000921895-18-003301 · form407428021_12132018.xml · nonDerivative · entry 1 BIGLARI, SARDAR · CIK 0001334430 · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 4,477,076 F1 · security: This Form 4 is filed jointly by The Lion Fund II, L.P. ("TLF II"), Biglari Capital Corp. ("BCC") and Sardar Biglari. Each of TLF II, BCC and Mr. Biglari is a member of a Section 13(d) group that owns more than 10% of the Issuer's outstanding shares of Common Stock. Each of TLF II, BCC and Mr. Biglari disclaims beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein. F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $174.00 to $175.27 per share. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 3 to this Form 4. F2 · ownership.direct: Securities owned directly by TLF II. BCC is the general partner of TLF II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the securities of the Issuer owned directly by TLF II. Read SEC document
December 11, 2018 Filed Dec 14, 2018 02:09 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	124	$696.05	$86,310.20	Disclosure SEC source: 0000921895-18-003300 · form407428007_12132018.xml · nonDerivative · entry 1 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 124.1 F1 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $695.50 to $696.10. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission ("SEC"), upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. Read SEC document
December 04, 2018 Filed Dec 6, 2018 23:42 UTC	CRACKER BARREL OLD COUNTRY STORE, INC CBRL · Entity 4829	SaleCall Option (Obligation to Sell) · Derivative	500	$215.00 Strike: $210.00	$107,500.00	Disclosure SEC source: 0000921895-18-003223 · form407428021_12062018.xml · derivative · entry 2 BIGLARI, SARDAR · CIK 0001334430 · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 500 Underlying: Common Stock · 50,000 shares Expires 2019-06-21 F2 · ownership.direct: Securities owned directly by TLF II. BCC is the general partner of TLF II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the securities of the Issuer owned directly by TLF II. Read SEC document
December 03, 2018 Filed Dec 4, 2018 00:17 UTC	CRACKER BARREL OLD COUNTRY STORE, INC CBRL · Entity 4829	SaleCall Option (Obligation to Sell) · Derivative	760	$217.96 Strike: $210.00	$165,649.60	Disclosure SEC source: 0000921895-18-003187 · form407428021_12032018.xml · derivative · entry 5 BIGLARI, SARDAR · CIK 0001334430 · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 760 Underlying: Common Stock · 76,000 shares Expires 2019-06-21 F7 · price: The price reported in Column 8 is a weighted average price. These call options were sold in multiple transactions at prices ranging from $215.00 to $220.00 per call option. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of call options sold at each separate price within the range set forth in this footnote 7 to this Form 4. F2 · ownership.direct: Securities owned directly by TLF II. BCC is the general partner of TLF II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the securities of the Issuer owned directly by TLF II. Read SEC document
December 03, 2018 Filed Dec 4, 2018 00:17 UTC	CRACKER BARREL OLD COUNTRY STORE, INC CBRL · Entity 4829	SaleCommon Stock, par value $0.01	5,250	$179.69	$943,372.50	Disclosure SEC source: 0000921895-18-003187 · form407428021_12032018.xml · nonDerivative · entry 3 BIGLARI, SARDAR · CIK 0001334430 · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 4,494,076 F1 · security: This Form 4 is filed jointly by The Lion Fund II, L.P. ("TLF II"), Biglari Capital Corp. ("BCC") and Sardar Biglari. Each of TLF II, BCC and Mr. Biglari is a member of a Section 13(d) group that owns more than 10% of the Issuer's outstanding shares of Common Stock. Each of TLF II, BCC and Mr. Biglari disclaims beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein. F5 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $179.60 to $180.13 per share. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 5 to this Form 4. F2 · ownership.direct: Securities owned directly by TLF II. BCC is the general partner of TLF II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the securities of the Issuer owned directly by TLF II. Read SEC document
November 30, 2018 Filed Dec 4, 2018 00:17 UTC	CRACKER BARREL OLD COUNTRY STORE, INC CBRL · Entity 4829	SaleCall Option (Obligation to Sell) · Derivative	1,500	$284.23 Strike: $210.00	$426,345.00	Disclosure SEC source: 0000921895-18-003187 · form407428021_12032018.xml · derivative · entry 4 BIGLARI, SARDAR · CIK 0001334430 · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 1,500 Underlying: Common Stock · 150,000 shares Expires 2019-06-21 F6 · price: The price reported in Column 8 is a weighted average price. These call options were sold in multiple transactions at prices ranging from $270.00 to $310.00 per call option. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of call options sold at each separate price within the range set forth in this footnote 6 to this Form 4. F2 · ownership.direct: Securities owned directly by TLF II. BCC is the general partner of TLF II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the securities of the Issuer owned directly by TLF II. Read SEC document
November 30, 2018 Filed Dec 4, 2018 00:17 UTC	CRACKER BARREL OLD COUNTRY STORE, INC CBRL · Entity 4829	SaleCommon Stock, par value $0.01	67,027	$181.67	$12,176,795.09	Disclosure SEC source: 0000921895-18-003187 · form407428021_12032018.xml · nonDerivative · entry 2 BIGLARI, SARDAR · CIK 0001334430 · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 4,499,326 F1 · security: This Form 4 is filed jointly by The Lion Fund II, L.P. ("TLF II"), Biglari Capital Corp. ("BCC") and Sardar Biglari. Each of TLF II, BCC and Mr. Biglari is a member of a Section 13(d) group that owns more than 10% of the Issuer's outstanding shares of Common Stock. Each of TLF II, BCC and Mr. Biglari disclaims beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein. F4 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $181.00 to $183.25 per share. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 4 to this Form 4. F2 · ownership.direct: Securities owned directly by TLF II. BCC is the general partner of TLF II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the securities of the Issuer owned directly by TLF II. Read SEC document
November 29, 2018 Filed Dec 4, 2018 00:17 UTC	CRACKER BARREL OLD COUNTRY STORE, INC CBRL · Entity 4829	SaleCommon Stock, par value $0.01	171,441	$182.57	$31,299,983.37	Disclosure SEC source: 0000921895-18-003187 · form407428021_12032018.xml · nonDerivative · entry 1 BIGLARI, SARDAR · CIK 0001334430 · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 4,566,353 F1 · security: This Form 4 is filed jointly by The Lion Fund II, L.P. ("TLF II"), Biglari Capital Corp. ("BCC") and Sardar Biglari. Each of TLF II, BCC and Mr. Biglari is a member of a Section 13(d) group that owns more than 10% of the Issuer's outstanding shares of Common Stock. Each of TLF II, BCC and Mr. Biglari disclaims beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein. F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $182.00 to $183.18 per share. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote 3 to this Form 4. F2 · ownership.direct: Securities owned directly by TLF II. BCC is the general partner of TLF II. Mr. Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the securities of the Issuer owned directly by TLF II. Read SEC document
June 19, 2018 Filed Jun 20, 2018 22:40 UTC	Biglari Holdings Inc. BH.A · Entity 4809	PurchaseClass A common stock	43	$986.97	$42,439.71	Disclosure SEC source: 0001209191-18-038870 · doc4.xml · nonDerivative · entry 2 BIGLARI, SARDAR · CIK 0001334430 · Director · Chief Executive Officer · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · See Footnote. Disclosed balance after: 7,185.1 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $979.00 to $994.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by Biglari Capital Corp. ("BCC"). Sardar Biglari may be deemed a beneficial owner of the shares of Class A common stock of the Issuer owned directly by BCC. Read SEC document
June 18, 2018 Filed Jun 20, 2018 22:40 UTC	Biglari Holdings Inc. BH.A · Entity 4809	PurchaseClass A common stock	186	$987.85	$183,740.10	Disclosure SEC source: 0001209191-18-038870 · doc4.xml · nonDerivative · entry 1 BIGLARI, SARDAR · CIK 0001334430 · Director · Chief Executive Officer · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · See Footnote. Disclosed balance after: 7,142.1 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F2 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $984.51 to $988.90. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission ("SEC"), upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by Biglari Capital Corp. ("BCC"). Sardar Biglari may be deemed a beneficial owner of the shares of Class A common stock of the Issuer owned directly by BCC. Read SEC document
June 15, 2018 Filed Jun 16, 2018 00:40 UTC	Biglari Holdings Inc. BH.A · Entity 4809	PurchaseClass A common stock	135	$985.31	$133,016.85	Disclosure SEC source: 0001209191-18-038214 · doc4.xml · nonDerivative · entry 3 BIGLARI, SARDAR · CIK 0001334430 · Director · Chief Executive Officer · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · See Footnote. Disclosed balance after: 6,956.1 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F5 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $979.10 to $990.01. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by Biglari Capital Corp. ("BCC"). Sardar Biglari may be deemed a beneficial owner of the shares of Class A common stock of the Issuer owned directly by BCC. Read SEC document
June 14, 2018 Filed Jun 16, 2018 00:40 UTC	Biglari Holdings Inc. BH.A · Entity 4809	PurchaseClass A common stock	135	$973.59	$131,434.65	Disclosure SEC source: 0001209191-18-038214 · doc4.xml · nonDerivative · entry 2 BIGLARI, SARDAR · CIK 0001334430 · Director · Chief Executive Officer · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · See Footnote. Disclosed balance after: 6,821.1 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $973.00 to $981.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by Biglari Capital Corp. ("BCC"). Sardar Biglari may be deemed a beneficial owner of the shares of Class A common stock of the Issuer owned directly by BCC. Read SEC document
June 13, 2018 Filed Jun 16, 2018 00:40 UTC	Biglari Holdings Inc. BH.A · Entity 4809	PurchaseClass A common stock	105	$980.40	$102,942.00	Disclosure SEC source: 0001209191-18-038214 · doc4.xml · nonDerivative · entry 1 BIGLARI, SARDAR · CIK 0001334430 · Director · Chief Executive Officer · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · See Footnote. Disclosed balance after: 6,686.1 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F2 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $971.05 to $985.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission ("SEC"), upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by Biglari Capital Corp. ("BCC"). Sardar Biglari may be deemed a beneficial owner of the shares of Class A common stock of the Issuer owned directly by BCC. Read SEC document
June 12, 2018 Filed Jun 12, 2018 23:28 UTC	Biglari Holdings Inc. BH.A · Entity 4809	PurchaseClass A common stock	3,135	$977.21	$3,063,553.35	Disclosure SEC source: 0001209191-18-037325 · doc4.xml · nonDerivative · entry 3 BIGLARI, SARDAR · CIK 0001334430 · Director · Chief Executive Officer · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · See Footnote. Disclosed balance after: 6,581.1 F5 · kind: Of the 3,135 Class A common stock shares purchased, 135 shares were purchased pursuant to a Rule 10b5-1 trading plan. F6 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $965.00 to $977.35. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by Biglari Capital Corp. ("BCC"). Mr. Biglari may be deemed a beneficial owner of the shares of Class A common stock of the Issuer owned directly by BCC. Read SEC document
June 11, 2018 Filed Jun 12, 2018 23:28 UTC	Biglari Holdings Inc. BH.A · Entity 4809	PurchaseClass A common stock	135	$996.66	$134,549.10	Disclosure SEC source: 0001209191-18-037325 · doc4.xml · nonDerivative · entry 2 BIGLARI, SARDAR · CIK 0001334430 · Director · Chief Executive Officer · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · See Footnote. Disclosed balance after: 3,446.1 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $995.34 to $997.07. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by Biglari Capital Corp. ("BCC"). Mr. Biglari may be deemed a beneficial owner of the shares of Class A common stock of the Issuer owned directly by BCC. Read SEC document
June 08, 2018 Filed Jun 12, 2018 23:28 UTC	Biglari Holdings Inc. BH.A · Entity 4809	PurchaseClass A common stock	129	$995.83	$128,462.07	Disclosure SEC source: 0001209191-18-037325 · doc4.xml · nonDerivative · entry 1 BIGLARI, SARDAR · CIK 0001334430 · Director · Chief Executive Officer · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · See Footnote. Disclosed balance after: 3,311.1 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F2 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $991.00 to $998.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission ("SEC"), upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by Biglari Capital Corp. ("BCC"). Mr. Biglari may be deemed a beneficial owner of the shares of Class A common stock of the Issuer owned directly by BCC. Read SEC document
June 07, 2018 Filed Jun 8, 2018 01:57 UTC	Biglari Holdings Inc. BH.A · Entity 4809	PurchaseClass A common stock	19	$1,005.52	$19,104.92	Disclosure SEC source: 0001209191-18-036561 · doc4.xml · nonDerivative · entry 2 BIGLARI, SARDAR · CIK 0001334430 · Director · Chief Executive Officer · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · See Footnote. Disclosed balance after: 3,182.1 F1 · security: Biglari Holdings Inc. implemented a dual class structure on April 30, 2018. The Company's common stock was replaced with Class A common stock and Class B common stock. F2 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F5 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $995.00 to $1,015.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F1 · balance_after: Biglari Holdings Inc. implemented a dual class structure on April 30, 2018. The Company's common stock was replaced with Class A common stock and Class B common stock. F4 · ownership.direct: Shares owned directly by BCC. Mr. Biglari may be deemed a beneficial owner of the shares of Class A common stock of the Issuer owned directly by BCC. Read SEC document
June 05, 2018 Filed Jun 8, 2018 01:57 UTC	Biglari Holdings Inc. BH.A · Entity 4809	PurchaseClass A common stock	62	$994.51	$61,659.90	Disclosure SEC source: 0001209191-18-036561 · doc4.xml · nonDerivative · entry 1 BIGLARI, SARDAR · CIK 0001334430 · Director · Chief Executive Officer · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · See Footnote. Disclosed balance after: 3,163.1 F1 · security: Biglari Holdings Inc. implemented a dual class structure on April 30, 2018. The Company's common stock was replaced with Class A common stock and Class B common stock. F2 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F3 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $979.50 to $1,005.79. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission ("SEC"), upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F1 · balance_after: Biglari Holdings Inc. implemented a dual class structure on April 30, 2018. The Company's common stock was replaced with Class A common stock and Class B common stock. F4 · ownership.direct: Shares owned directly by BCC. Mr. Biglari may be deemed a beneficial owner of the shares of Class A common stock of the Issuer owned directly by BCC. Read SEC document
March 08, 2018 Filed Mar 8, 2018 17:34 UTC	BIGLARI HOLDINGS INC. BH · Entity 168565	PurchaseCommon Stock, stated value $0.50 per share	89	$420.00	$37,380.00	Disclosure SEC source: 0001209191-18-018167 · doc4.xml · nonDerivative · entry 3 BIGLARI, SARDAR · CIK 0001334430 · Director · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 726,218 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F3 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp ("BCC") is the general partner of the Lion Fund II. Sardar Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II. Read SEC document
March 07, 2018 Filed Mar 8, 2018 17:34 UTC	BIGLARI HOLDINGS INC. BH · Entity 168565	PurchaseCommon Stock, stated value $0.50 per share	1,061	$418.63	$444,170.04	Disclosure SEC source: 0001209191-18-018167 · doc4.xml · nonDerivative · entry 2 BIGLARI, SARDAR · CIK 0001334430 · Director · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 726,129 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F4 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $414.80 to $420.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp ("BCC") is the general partner of the Lion Fund II. Sardar Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II. Read SEC document
March 06, 2018 Filed Mar 8, 2018 17:34 UTC	BIGLARI HOLDINGS INC. BH · Entity 168565	PurchaseCommon Stock, stated value $0.50 per share	687	$419.79	$288,392.57	Disclosure SEC source: 0001209191-18-018167 · doc4.xml · nonDerivative · entry 1 BIGLARI, SARDAR · CIK 0001334430 · Director · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 725,068 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F2 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $418.12 to $420.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the U.S. Securities and Exchange Commission ("SEC"), upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp ("BCC") is the general partner of the Lion Fund II. Sardar Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II. Read SEC document
March 02, 2018 Filed Mar 5, 2018 20:49 UTC	BIGLARI HOLDINGS INC. BH · Entity 168565	PurchaseCommon Stock, stated value $0.50 per share	150	$419.68	$62,952.00	Disclosure SEC source: 0001209191-18-016996 · doc4.xml · nonDerivative · entry 2 BIGLARI, SARDAR · CIK 0001334430 · Director · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 724,381 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F4 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $418.80 to $420.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp ("BCC") is the general partner of the Lion Fund II. Sardar Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II. Read SEC document
March 01, 2018 Filed Mar 5, 2018 20:49 UTC	BIGLARI HOLDINGS INC. BH · Entity 168565	PurchaseCommon Stock, stated value $0.50 per share	1,491	$418.97	$624,685.76	Disclosure SEC source: 0001209191-18-016996 · doc4.xml · nonDerivative · entry 1 BIGLARI, SARDAR · CIK 0001334430 · Director · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 724,231 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F2 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $414.10 to $420.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the U.S. Securities and Exchange Commission ("SEC"), upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp ("BCC") is the general partner of the Lion Fund II. Sardar Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II. Read SEC document
February 28, 2018 Filed Mar 1, 2018 16:55 UTC	BIGLARI HOLDINGS INC. BH · Entity 168565	PurchaseCommon Stock, stated value $0.50 per share	700	$419.85	$293,892.76	Disclosure SEC source: 0001209191-18-015071 · doc4.xml · nonDerivative · entry 1 BIGLARI, SARDAR · CIK 0001334430 · Director · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 722,740 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F2 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $417.12. to $420.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the U.S. Securities and Exchange Commission ("SEC"), upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp ("BCC") is the general partner of the Lion Fund II. Sardar Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II. Read SEC document
February 27, 2018 Filed Mar 1, 2018 06:03 UTC	BIGLARI HOLDINGS INC. BH · Entity 168565	PurchaseCommon Stock, stated value $0.50 per share	646	$419.46	$270,971.42	Disclosure SEC source: 0001209191-18-014762 · doc4.xml · nonDerivative · entry 2 BIGLARI, SARDAR · CIK 0001334430 · Director · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 722,040 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F4 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $416.30 to $420.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp ("BCC") is the general partner of the Lion Fund II. Sardar Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II. Read SEC document
February 26, 2018 Filed Mar 1, 2018 06:03 UTC	BIGLARI HOLDINGS INC. BH · Entity 168565	PurchaseCommon Stock, stated value $0.50 per share	1,338	$419.90	$561,826.33	Disclosure SEC source: 0001209191-18-014762 · doc4.xml · nonDerivative · entry 1 BIGLARI, SARDAR · CIK 0001334430 · Director · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 721,394 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F2 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $415.52. to $420.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the U.S. Securities and Exchange Commission ("SEC"), upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp ("BCC") is the general partner of the Lion Fund II. Sardar Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II. Read SEC document
February 23, 2018 Filed Feb 23, 2018 21:03 UTC	BIGLARI HOLDINGS INC. BH · Entity 168565	PurchaseCommon Stock, stated value $0.50 per share	1,407	$416.99	$586,699.16	Disclosure SEC source: 0001209191-18-013196 · doc4.xml · nonDerivative · entry 3 BIGLARI, SARDAR · CIK 0001334430 · Director · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 720,056 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F5 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $413.01 to $420.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp ("BCC") is the general partner of the Lion Fund II. Sardar Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II. Read SEC document
February 22, 2018 Filed Feb 23, 2018 21:03 UTC	BIGLARI HOLDINGS INC. BH · Entity 168565	PurchaseCommon Stock, stated value $0.50 per share	769	$418.01	$321,450.61	Disclosure SEC source: 0001209191-18-013196 · doc4.xml · nonDerivative · entry 2 BIGLARI, SARDAR · CIK 0001334430 · Director · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 718,649 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F4 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $416.27 to $420.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp ("BCC") is the general partner of the Lion Fund II. Sardar Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II. Read SEC document
February 21, 2018 Filed Feb 23, 2018 21:03 UTC	BIGLARI HOLDINGS INC. BH · Entity 168565	PurchaseCommon Stock, stated value $0.50 per share	1,407	$417.77	$587,797.89	Disclosure SEC source: 0001209191-18-013196 · doc4.xml · nonDerivative · entry 1 BIGLARI, SARDAR · CIK 0001334430 · Director · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 717,880 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F2 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $408.70. to $420.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the U.S. Securities and Exchange Commission ("SEC"), upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp ("BCC") is the general partner of the Lion Fund II. Sardar Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II. Read SEC document
February 20, 2018 Filed Feb 20, 2018 20:09 UTC	BIGLARI HOLDINGS INC. BH · Entity 168565	PurchaseCommon Stock, stated value $0.50 per share	1,407	$401.71	$565,206.95	Disclosure SEC source: 0001209191-18-011631 · doc4.xml · nonDerivative · entry 3 BIGLARI, SARDAR · CIK 0001334430 · Director · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 716,473 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F5 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $386.16 to $411.38. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp ("BCC") is the general partner of the Lion Fund II. Sardar Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II. Read SEC document
February 16, 2018 Filed Feb 20, 2018 20:09 UTC	BIGLARI HOLDINGS INC. BH · Entity 168565	PurchaseCommon Stock, stated value $0.50 per share	1,221	$401.02	$489,647.01	Disclosure SEC source: 0001209191-18-011631 · doc4.xml · nonDerivative · entry 2 BIGLARI, SARDAR · CIK 0001334430 · Director · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 715,066 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F4 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $396.03 to $404.21. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp ("BCC") is the general partner of the Lion Fund II. Sardar Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II. Read SEC document
February 15, 2018 Filed Feb 20, 2018 20:09 UTC	BIGLARI HOLDINGS INC. BH · Entity 168565	PurchaseCommon Stock, stated value $0.50 per share	1,221	$401.42	$490,132.60	Disclosure SEC source: 0001209191-18-011631 · doc4.xml · nonDerivative · entry 1 BIGLARI, SARDAR · CIK 0001334430 · Director · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 713,845 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F2 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $398.33. to $404.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the U.S. Securities and Exchange Commission ("SEC"), upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp ("BCC") is the general partner of the Lion Fund II. Sardar Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II. Read SEC document
February 14, 2018 Filed Feb 14, 2018 20:46 UTC	BIGLARI HOLDINGS INC. BH · Entity 168565	PurchaseCommon Stock, stated value $0.50 per share	1,221	$402.65	$491,631.74	Disclosure SEC source: 0001209191-18-010206 · doc4.xml · nonDerivative · entry 3 BIGLARI, SARDAR · CIK 0001334430 · Director · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 712,624 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F5 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $396.17 to $406.89. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp ("BCC") is the general partner of the Lion Fund II. Sardar Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II. Read SEC document
February 13, 2018 Filed Feb 14, 2018 20:46 UTC	BIGLARI HOLDINGS INC. BH · Entity 168565	PurchaseCommon Stock, stated value $0.50 per share	1,221	$403.37	$492,514.16	Disclosure SEC source: 0001209191-18-010206 · doc4.xml · nonDerivative · entry 2 BIGLARI, SARDAR · CIK 0001334430 · Director · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 711,403 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F4 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $400.19 to $405.70. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp ("BCC") is the general partner of the Lion Fund II. Sardar Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II. Read SEC document
February 12, 2018 Filed Feb 14, 2018 20:46 UTC	BIGLARI HOLDINGS INC. BH · Entity 168565	PurchaseCommon Stock, stated value $0.50 per share	1,221	$405.54	$495,164.34	Disclosure SEC source: 0001209191-18-010206 · doc4.xml · nonDerivative · entry 1 BIGLARI, SARDAR · CIK 0001334430 · Director · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 710,182 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F2 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $402.58. to $408.44. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the U.S. Securities and Exchange Commission ("SEC"), upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp ("BCC") is the general partner of the Lion Fund II. Sardar Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II. Read SEC document
February 09, 2018 Filed Feb 9, 2018 20:08 UTC	BIGLARI HOLDINGS INC. BH · Entity 168565	PurchaseCommon Stock, stated value $0.50 per share	1,187	$390.92	$464,019.90	Disclosure SEC source: 0001209191-18-009027 · doc4.xml · nonDerivative · entry 3 BIGLARI, SARDAR · CIK 0001334430 · Director · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 708,961 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F5 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $383.74 to $400.95. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp ("BCC") is the general partner of the Lion Fund II. Sardar Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II. Read SEC document
February 08, 2018 Filed Feb 9, 2018 20:08 UTC	BIGLARI HOLDINGS INC. BH · Entity 168565	PurchaseCommon Stock, stated value $0.50 per share	1,187	$395.78	$469,787.30	Disclosure SEC source: 0001209191-18-009027 · doc4.xml · nonDerivative · entry 2 BIGLARI, SARDAR · CIK 0001334430 · Director · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 707,774 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F4 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $387.98 to $401.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp ("BCC") is the general partner of the Lion Fund II. Sardar Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II. Read SEC document
February 07, 2018 Filed Feb 9, 2018 20:08 UTC	BIGLARI HOLDINGS INC. BH · Entity 168565	PurchaseCommon Stock, stated value $0.50 per share	1,173	$395.70	$464,152.46	Disclosure SEC source: 0001209191-18-009027 · doc4.xml · nonDerivative · entry 1 BIGLARI, SARDAR · CIK 0001334430 · Director · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 706,587 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F2 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $392.98. to $398.70. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the U.S. Securities and Exchange Commission ("SEC"), upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp ("BCC") is the general partner of the Lion Fund II. Sardar Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II. Read SEC document
February 06, 2018 Filed Feb 6, 2018 20:37 UTC	BIGLARI HOLDINGS INC. BH · Entity 168565	PurchaseCommon Stock, stated value $0.50 per share	1,187	$393.66	$467,272.28	Disclosure SEC source: 0001209191-18-008023 · doc4.xml · nonDerivative · entry 3 BIGLARI, SARDAR · CIK 0001334430 · Director · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 705,414 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F5 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $389.00 to $400.59. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp ("BCC") is the general partner of the Lion Fund II. Sardar Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II. Read SEC document
February 05, 2018 Filed Feb 6, 2018 20:37 UTC	BIGLARI HOLDINGS INC. BH · Entity 168565	PurchaseCommon Stock, stated value $0.50 per share	905	$400.05	$362,048.15	Disclosure SEC source: 0001209191-18-008023 · doc4.xml · nonDerivative · entry 2 BIGLARI, SARDAR · CIK 0001334430 · Director · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 704,227 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F4 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $392.41 to $405.49. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp ("BCC") is the general partner of the Lion Fund II. Sardar Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II. Read SEC document
February 02, 2018 Filed Feb 6, 2018 20:37 UTC	BIGLARI HOLDINGS INC. BH · Entity 168565	PurchaseCommon Stock, stated value $0.50 per share	1,218	$407.66	$496,531.46	Disclosure SEC source: 0001209191-18-008023 · doc4.xml · nonDerivative · entry 1 BIGLARI, SARDAR · CIK 0001334430 · Director · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 703,322 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F2 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $404.21. to $410.24. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the U.S. Securities and Exchange Commission ("SEC"), upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp ("BCC") is the general partner of the Lion Fund II. Sardar Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II. Read SEC document
February 01, 2018 Filed Feb 1, 2018 21:12 UTC	BIGLARI HOLDINGS INC. BH · Entity 168565	PurchaseCommon Stock, stated value $0.50 per share	803	$414.64	$332,954.47	Disclosure SEC source: 0001209191-18-006621 · doc4.xml · nonDerivative · entry 3 BIGLARI, SARDAR · CIK 0001334430 · Director · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 702,104 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F5 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $407.81 to $418.61. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp ("BCC") is the general partner of the Lion Fund II. Sardar Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II. Read SEC document
January 31, 2018 Filed Feb 1, 2018 21:12 UTC	BIGLARI HOLDINGS INC. BH · Entity 168565	PurchaseCommon Stock, stated value $0.50 per share	862	$416.43	$358,962.14	Disclosure SEC source: 0001209191-18-006621 · doc4.xml · nonDerivative · entry 2 BIGLARI, SARDAR · CIK 0001334430 · Director · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 701,301 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F4 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $413.44 to $420.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp ("BCC") is the general partner of the Lion Fund II. Sardar Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II. Read SEC document
January 30, 2018 Filed Feb 1, 2018 21:12 UTC	BIGLARI HOLDINGS INC. BH · Entity 168565	PurchaseCommon Stock, stated value $0.50 per share	1,084	$415.89	$450,827.04	Disclosure SEC source: 0001209191-18-006621 · doc4.xml · nonDerivative · entry 1 BIGLARI, SARDAR · CIK 0001334430 · Director · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 700,439 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F2 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $411.81 to $418.40. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the U.S. Securities and Exchange Commission ("SEC"), upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp ("BCC") is the general partner of the Lion Fund II. Sardar Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II. Read SEC document
January 29, 2018 Filed Jan 29, 2018 20:41 UTC	BIGLARI HOLDINGS INC. BH · Entity 168565	PurchaseCommon Stock, stated value $0.50 per share	816	$417.31	$340,521.53	Disclosure SEC source: 0001209191-18-005940 · doc4.xml · nonDerivative · entry 3 BIGLARI, SARDAR · CIK 0001334430 · Director · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 699,355 F1 · kind: These transactions were effected pursuant to a Rule 10b5-1 trading plan. F5 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $416.93 to $419.14. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F3 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp ("BCC") is the general partner of the Lion Fund II. Sardar Biglari is the sole member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II. Read SEC document

Value uses the disclosed total when available, otherwise shares × reported transaction price. It is not an estimate of exercise cash cost or investment performance.