organization · Reporting owner

BIGLARI CAPITAL CORP.

Disclosed activity across 5 companies

Tapewire entity: 24687
SEC CIK: 0001334429

Reported relationships

Latest disclosed role at each company.

Company	Last reported as	Report date	Published
BIGLARI HOLDINGS INC.BH · Entity 168565	10% owner	March 06, 2018	March 08, 2018
Biglari Holdings Inc.BH · Entity 4809	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.

BIGLARI HOLDINGS INC.

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

Jointly reported with BIGLARI, SARDAR, 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, SARDAR, 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, SARDAR, 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, SARDAR, 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, SARDAR, 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

JSON API

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
August 07, 2026 Filed Aug 11, 2026 21:07 UTC	El Pollo Loco Holdings, Inc. LOCO · Entity 5532	SaleCommon Stock, par value $0.01 per share	550	$17.06	$9,383.00	Disclosure SEC source: 0000921895-26-002049 · form408106005_08112026.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 Biglari Holdings Inc. · CIK 0001726173 · See Explanation of Responses Biglari Reinsurance Ltd. · CIK 0002035328 · See Explanation of Responses Biglari Insurance Group Inc. · CIK 0002034968 · See Explanation of Responses Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By First Guard Insurance Company Disclosed balance after: 65,872 F1 · price: 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 · ownership.nature: 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. Read SEC document
August 07, 2026 Filed Aug 11, 2026 21:07 UTC	El Pollo Loco Holdings, Inc. LOCO · Entity 5532	SaleCommon Stock, par value $0.01 per share	550	$17.06	$9,383.00	Disclosure SEC source: 0000921895-26-002049 · form408106005_08112026.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 Biglari Holdings Inc. · CIK 0001726173 · See Explanation of Responses Biglari Reinsurance Ltd. · CIK 0002035328 · See Explanation of Responses Biglari Insurance Group Inc. · CIK 0002034968 · See Explanation of Responses Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By Biglari Reinsurance Ltd. Disclosed balance after: 315,118 F1 · price: 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 · ownership.nature: 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. Read SEC document
August 05, 2026 Filed Aug 5, 2026 22:44 UTC	El Pollo Loco Holdings, Inc. LOCO · Entity 5532	SaleCommon Stock, par value $0.01 per share	40,000	$16.90	$676,000.00	Disclosure SEC source: 0000921895-26-001972 · form408106005_08052026.xml · nonDerivative · entry 4 BIGLARI, SARDAR · CIK 0001334430 · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Biglari Holdings Inc. · CIK 0001726173 · Explanation of Responses Biglari Reinsurance Ltd. · CIK 0002035328 · Explanation of Responses Biglari Insurance Group Inc. · CIK 0002034968 · Explanation of Responses Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By First Guard Insurance Company Disclosed balance after: 66,422 F2 · price: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $16.75 to $17.03. 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. F4 · ownership.nature: 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. Read SEC document
August 05, 2026 Filed Aug 5, 2026 22:44 UTC	El Pollo Loco Holdings, Inc. LOCO · Entity 5532	SaleCommon Stock, par value $0.01 per share	40,000	$16.90	$676,000.00	Disclosure SEC source: 0000921895-26-001972 · form408106005_08052026.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 Biglari Holdings Inc. · CIK 0001726173 · Explanation of Responses Biglari Reinsurance Ltd. · CIK 0002035328 · Explanation of Responses Biglari Insurance Group Inc. · CIK 0002034968 · Explanation of Responses Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By Biglari Reinsurance Ltd. Disclosed balance after: 315,668 F2 · price: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $16.75 to $17.03. 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 · ownership.nature: 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. Read SEC document
August 03, 2026 Filed Aug 5, 2026 22:44 UTC	El Pollo Loco Holdings, Inc. LOCO · Entity 5532	SaleCommon Stock, par value $0.01 per share	10,000	$16.73	$167,300.00	Disclosure SEC source: 0000921895-26-001972 · form408106005_08052026.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 Biglari Holdings Inc. · CIK 0001726173 · Explanation of Responses Biglari Reinsurance Ltd. · CIK 0002035328 · Explanation of Responses Biglari Insurance Group Inc. · CIK 0002034968 · Explanation of Responses Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By First Guard Insurance Company Disclosed balance after: 106,422 F1 · price: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $16.70 to $16.78. 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. F4 · ownership.nature: 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. Read SEC document
August 03, 2026 Filed Aug 5, 2026 22:44 UTC	El Pollo Loco Holdings, Inc. LOCO · Entity 5532	SaleCommon Stock, par value $0.01 per share	10,000	$16.73	$167,300.00	Disclosure SEC source: 0000921895-26-001972 · form408106005_08052026.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 Biglari Holdings Inc. · CIK 0001726173 · Explanation of Responses Biglari Reinsurance Ltd. · CIK 0002035328 · Explanation of Responses Biglari Insurance Group Inc. · CIK 0002034968 · Explanation of Responses Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By Biglari Reinsurance Ltd. Disclosed balance after: 355,668 F1 · price: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $16.70 to $16.78. 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 · ownership.nature: 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. Read SEC document
July 30, 2026 Filed Jul 31, 2026 22:03 UTC	El Pollo Loco Holdings, Inc. LOCO · Entity 5532	SaleCommon Stock, par value $0.01 per share	273	$16.70	$4,559.10	Disclosure SEC source: 0000921895-26-001917 · form408106005_07312026.xml · nonDerivative · entry 4 BIGLARI, SARDAR · CIK 0001334430 · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Biglari Holdings Inc. · CIK 0001726173 · Explanation of Responses Biglari Reinsurance Ltd. · CIK 0002035328 · Explanation of Responses Biglari Insurance Group Inc. · CIK 0002034968 · Explanation of Responses Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By First Guard Insurance Company Disclosed balance after: 116,422 F2 · price: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $16.70 to $16.75. 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. F4 · ownership.nature: 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. Read SEC document
July 30, 2026 Filed Jul 31, 2026 22:03 UTC	El Pollo Loco Holdings, Inc. LOCO · Entity 5532	SaleCommon Stock, par value $0.01 per share	273	$16.70	$4,559.10	Disclosure SEC source: 0000921895-26-001917 · form408106005_07312026.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 Biglari Holdings Inc. · CIK 0001726173 · Explanation of Responses Biglari Reinsurance Ltd. · CIK 0002035328 · Explanation of Responses Biglari Insurance Group Inc. · CIK 0002034968 · Explanation of Responses Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By Biglari Reinsurance Ltd. Disclosed balance after: 365,668 F2 · price: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $16.70 to $16.75. 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 · ownership.nature: 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. Read SEC document
July 29, 2026 Filed Jul 31, 2026 22:03 UTC	El Pollo Loco Holdings, Inc. LOCO · Entity 5532	SaleCommon Stock, par value $0.01 per share	3,305	$16.71	$55,226.55	Disclosure SEC source: 0000921895-26-001917 · form408106005_07312026.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 Biglari Holdings Inc. · CIK 0001726173 · Explanation of Responses Biglari Reinsurance Ltd. · CIK 0002035328 · Explanation of Responses Biglari Insurance Group Inc. · CIK 0002034968 · Explanation of Responses Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By First Guard Insurance Company Disclosed balance after: 116,695 F1 · price: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $16.70 to $16.72. 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. F4 · ownership.nature: 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. Read SEC document
July 29, 2026 Filed Jul 31, 2026 22:03 UTC	El Pollo Loco Holdings, Inc. LOCO · Entity 5532	SaleCommon Stock, par value $0.01 per share	3,306	$16.71	$55,243.26	Disclosure SEC source: 0000921895-26-001917 · form408106005_07312026.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 Biglari Holdings Inc. · CIK 0001726173 · Explanation of Responses Biglari Reinsurance Ltd. · CIK 0002035328 · Explanation of Responses Biglari Insurance Group Inc. · CIK 0002034968 · Explanation of Responses Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By Biglari Reinsurance Ltd. Disclosed balance after: 365,941 F1 · price: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $16.70 to $16.72. 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 · ownership.nature: 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. Read SEC document
July 17, 2026 Filed Jul 21, 2026 21:39 UTC	El Pollo Loco Holdings, Inc. LOCO · Entity 5532	SaleCommon Stock, par value $0.01 per share	11,000	$16.71	$183,810.00	Disclosure SEC source: 0000921895-26-001848 · form408106005_07212026.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 Biglari Holdings Inc. · CIK 0001726173 · Explanation of Responses Biglari Reinsurance Ltd. · CIK 0002035328 · Explanation of Responses Biglari Insurance Group Inc. · CIK 0002034968 · Explanation of Responses Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 3,538,961 F1 · price: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $16.70 to $16.76. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. F2 · ownership.nature: 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. Read SEC document
July 16, 2026 Filed Jul 16, 2026 21:33 UTC	El Pollo Loco Holdings, Inc. LOCO · Entity 5532	SaleCommon Stock, par value $0.01 per share	2,749	$16.70	$45,908.30	Disclosure SEC source: 0000921895-26-001825 · form408106005_07162026.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 Biglari Holdings Inc. · CIK 0001726173 · Explanation of Responses Biglari Reinsurance Ltd. · CIK 0002035328 · Explanation of Responses Biglari Insurance Group Inc. · CIK 0002034968 · Explanation of Responses Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 3,549,961 F3 · price: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $16.70 to $16.75. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. F4 · ownership.nature: 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. Read SEC document
July 15, 2026 Filed Jul 16, 2026 21:33 UTC	El Pollo Loco Holdings, Inc. LOCO · Entity 5532	SaleCommon Stock, par value $0.01 per share	6,533	$16.71	$109,166.43	Disclosure SEC source: 0000921895-26-001825 · form408106005_07162026.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 Biglari Holdings Inc. · CIK 0001726173 · Explanation of Responses Biglari Reinsurance Ltd. · CIK 0002035328 · Explanation of Responses Biglari Insurance Group Inc. · CIK 0002034968 · Explanation of Responses Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 3,552,710 F2 · price: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $16.70 to $16.72. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. F4 · ownership.nature: 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. Read SEC document
July 14, 2026 Filed Jul 16, 2026 21:33 UTC	El Pollo Loco Holdings, Inc. LOCO · Entity 5532	SaleCommon Stock, par value $0.01 per share	1,211	$16.73	$20,260.03	Disclosure SEC source: 0000921895-26-001825 · form408106005_07162026.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 Biglari Holdings Inc. · CIK 0001726173 · Explanation of Responses Biglari Reinsurance Ltd. · CIK 0002035328 · Explanation of Responses Biglari Insurance Group Inc. · CIK 0002034968 · Explanation of Responses Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 3,559,243 F1 · price: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $16.70 to $16.76. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. F4 · ownership.nature: 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. Read SEC document
July 13, 2026 Filed Jul 14, 2026 13:22 UTC	El Pollo Loco Holdings, Inc. LOCO · Entity 5532	SaleCommon Stock, par value $0.01 per share	75,000	$16.74	$1,255,500.00	Disclosure SEC source: 0000921895-26-001804 · form408106005_07142026.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 Biglari Holdings Inc. · CIK 0001726173 · Explanation of Responses Biglari Reinsurance Ltd. · CIK 0002035328 · Explanation of Responses Biglari Insurance Group Inc. · CIK 0002034968 · Explanation of Responses Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 3,560,454 F1 · price: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $16.70 to $17.02. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. F2 · ownership.nature: 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. Read SEC document
July 02, 2026 Filed Jul 7, 2026 00:37 UTC	El Pollo Loco Holdings, Inc. LOCO · Entity 5532	SaleCommon Stock, par value $0.01 per share	9,525	$16.92	$161,163.00	Disclosure SEC source: 0000921895-26-001763 · form408106005_07062026.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 Biglari Holdings Inc. · CIK 0001726173 · Explanation of Responses Biglari Reinsurance Ltd. · CIK 0002035328 · Explanation of Responses Biglari Insurance Group Inc. · CIK 0002034968 · Explanation of Responses Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 3,635,454 F2 · price: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $16.90 to $16.96. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. F3 · ownership.nature: 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. Read SEC document
July 01, 2026 Filed Jul 7, 2026 00:37 UTC	El Pollo Loco Holdings, Inc. LOCO · Entity 5532	SaleCommon Stock, par value $0.01 per share	132,421	$17.27	$2,286,910.67	Disclosure SEC source: 0000921895-26-001763 · form408106005_07062026.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 Biglari Holdings Inc. · CIK 0001726173 · Explanation of Responses Biglari Reinsurance Ltd. · CIK 0002035328 · Explanation of Responses Biglari Insurance Group Inc. · CIK 0002034968 · Explanation of Responses Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 3,644,979 F1 · price: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $17.20 to $17.40. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. F3 · ownership.nature: 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. Read SEC document
June 30, 2026 Filed Jun 30, 2026 23:22 UTC	El Pollo Loco Holdings, Inc. LOCO · Entity 5532	SaleCommon Stock, par value $0.01 per share	22,600	$16.91	$382,166.00	Disclosure SEC source: 0000921895-26-001706 · form408106005_06302026.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 Biglari Holdings Inc. · CIK 0001726173 · Explanation of Responses Biglari Reinsurance Ltd. · CIK 0002035328 · Explanation of Responses Biglari Insurance Group Inc. · CIK 0002034968 · Explanation of Responses Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 3,777,400 F3 · price: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $16.87 to $17.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. F4 · ownership.nature: 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. Read SEC document
June 29, 2026 Filed Jun 30, 2026 23:22 UTC	El Pollo Loco Holdings, Inc. LOCO · Entity 5532	SaleCommon Stock, par value $0.01 per share	100,000	$16.58	$1,658,000.00	Disclosure SEC source: 0000921895-26-001706 · form408106005_06302026.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 Biglari Holdings Inc. · CIK 0001726173 · Explanation of Responses Biglari Reinsurance Ltd. · CIK 0002035328 · Explanation of Responses Biglari Insurance Group Inc. · CIK 0002034968 · Explanation of Responses Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 3,800,000 F2 · price: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $16.50 to $16.67. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. F4 · ownership.nature: 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. Read SEC document
June 26, 2026 Filed Jun 30, 2026 23:22 UTC	El Pollo Loco Holdings, Inc. LOCO · Entity 5532	SaleCommon Stock, par value $0.01 per share	100,000	$16.75	$1,675,000.00	Disclosure SEC source: 0000921895-26-001706 · form408106005_06302026.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 Biglari Holdings Inc. · CIK 0001726173 · Explanation of Responses Biglari Reinsurance Ltd. · CIK 0002035328 · Explanation of Responses Biglari Insurance Group Inc. · CIK 0002034968 · Explanation of Responses Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 3,900,000 F1 · price: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $16.50 to $16.90. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. F4 · ownership.nature: 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. Read SEC document
June 05, 2026 Filed Jun 5, 2026 22:46 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	535	$297.14	$158,969.90	Disclosure SEC source: 0000921895-26-001567 · form408106003_06052026.xml · nonDerivative · entry 2 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND, L.P. · CIK 0001334426 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund, L.P. Disclosed balance after: 1,400,382 F4 · price: 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 · ownership.direct: 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. Read SEC document
June 04, 2026 Filed Jun 5, 2026 22:46 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	1,743	$286.76	$499,822.68	Disclosure SEC source: 0000921895-26-001567 · form408106003_06052026.xml · nonDerivative · entry 1 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND, L.P. · CIK 0001334426 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund, L.P. Disclosed balance after: 1,399,847 F3 · price: 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 · ownership.direct: 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. Read SEC document
May 14, 2026 Filed May 14, 2026 23:58 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	14,351	$258.06	$3,703,419.06	Disclosure SEC source: 0000921895-26-001333 · form408106003_05142026.xml · nonDerivative · entry 3 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND, L.P. · CIK 0001334426 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund, L.P. Disclosed balance after: 1,398,104 F5 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $256.50 to $259.46. 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 · ownership.direct: 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. Read SEC document
May 13, 2026 Filed May 14, 2026 23:58 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	15,358	$260.36	$3,998,608.88	Disclosure SEC source: 0000921895-26-001333 · form408106003_05142026.xml · nonDerivative · entry 2 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND, L.P. · CIK 0001334426 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund, L.P. Disclosed balance after: 1,383,753 F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $252.40 to $265.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F2 · ownership.direct: 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. Read SEC document
May 12, 2026 Filed May 14, 2026 23:58 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	22,965	$249.84	$5,737,575.60	Disclosure SEC source: 0000921895-26-001333 · form408106003_05142026.xml · nonDerivative · entry 1 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND, L.P. · CIK 0001334426 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund, L.P. Disclosed balance after: 1,368,395 F3 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $244.18 to $256.54. 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 · ownership.direct: 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. Read SEC document
March 13, 2026 Filed Mar 13, 2026 21:06 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	2,810	$302.20	$849,182.00	Disclosure SEC source: 0000921895-26-000687 · form408106003_03132026.xml · nonDerivative · entry 1 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND, L.P. · CIK 0001334426 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund, L.P. Disclosed balance after: 1,345,430 F3 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $297.73 to $304.46. 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 · ownership.direct: 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. Read SEC document
March 09, 2026 Filed Mar 9, 2026 22:41 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	3,320	$301.06	$999,519.20	Disclosure SEC source: 0000921895-26-000651 · form408106003_03092026.xml · nonDerivative · entry 1 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND, L.P. · CIK 0001334426 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund, L.P. Disclosed balance after: 1,342,620 F3 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $295.32 to $308.91. 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 · ownership.direct: 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. Read SEC document
March 06, 2026 Filed Mar 6, 2026 22:51 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	2,441	$307.20	$749,875.20	Disclosure SEC source: 0000921895-26-000636 · form408106003_03062026.xml · nonDerivative · entry 1 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND, L.P. · CIK 0001334426 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund, L.P. Disclosed balance after: 1,339,300 F3 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $303.69 to $309.46. 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 · ownership.direct: 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. Read SEC document
March 03, 2026 Filed Mar 4, 2026 00:37 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	1,146	$331.15	$379,497.90	Disclosure SEC source: 0000921895-26-000598 · form408106003_03032026.xml · nonDerivative · entry 1 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND, L.P. · CIK 0001334426 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund, L.P. Disclosed balance after: 1,336,859 F3 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $327.83 to $334.95. 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 · ownership.direct: 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. Read SEC document
December 17, 2025 Filed Dec 18, 2025 00:04 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	368	$1,633.52	$601,135.36	Disclosure SEC source: 0000921895-25-003369 · form408106003_12172025.xml · nonDerivative · entry 2 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND, L.P. · CIK 0001334426 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund, L.P. Disclosed balance after: 128,811.7 F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1,619.00 to $1,645.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F2 · ownership.direct: 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. Read SEC document
December 17, 2025 Filed Dec 18, 2025 00:04 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	3,084	$323.71	$998,321.64	Disclosure SEC source: 0000921895-25-003369 · form408106003_12172025.xml · nonDerivative · entry 1 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND, L.P. · CIK 0001334426 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund, L.P. Disclosed balance after: 1,335,713 F3 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $320.00 to $328.95. 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 · ownership.direct: 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. Read SEC document
December 16, 2025 Filed Dec 17, 2025 00:34 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	156	$1,599.87	$249,579.72	Disclosure SEC source: 0000921895-25-003361 · form408106003_12162025.xml · nonDerivative · entry 4 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND, L.P. · CIK 0001334426 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund, L.P. Disclosed balance after: 128,443.7 F5 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1,595.15 to $1,608.67. 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 · ownership.direct: 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. Read SEC document
December 15, 2025 Filed Dec 17, 2025 00:34 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	60	$1,635.37	$98,122.20	Disclosure SEC source: 0000921895-25-003361 · form408106003_12162025.xml · nonDerivative · entry 3 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND, L.P. · CIK 0001334426 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund, L.P. Disclosed balance after: 128,287.7 F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1,606.46 to $1,645.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F2 · ownership.direct: 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. Read SEC document
December 15, 2025 Filed Dec 17, 2025 00:34 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	152	$328.00	$49,856.00	Disclosure SEC source: 0000921895-25-003361 · form408106003_12162025.xml · nonDerivative · entry 2 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND, L.P. · CIK 0001334426 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund, L.P. Disclosed balance after: 1,332,629 F2 · ownership.direct: 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. Read SEC document
December 12, 2025 Filed Dec 17, 2025 00:34 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	449	$333.14	$149,579.86	Disclosure SEC source: 0000921895-25-003361 · form408106003_12162025.xml · nonDerivative · entry 1 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND, L.P. · CIK 0001334426 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund, L.P. Disclosed balance after: 1,332,477 F3 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $332.00 to $333.50. 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 · ownership.direct: 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. Read SEC document
December 10, 2025 Filed Dec 11, 2025 00:23 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	310	$321.94	$99,801.40	Disclosure SEC source: 0000921895-25-003310 · form408106003_12102025.xml · nonDerivative · entry 3 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND, L.P. · CIK 0001334426 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund, L.P. Disclosed balance after: 1,332,028 F5 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $320.89 to $322.11. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F2 · ownership.direct: 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. Read SEC document
December 09, 2025 Filed Dec 11, 2025 00:23 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	938	$319.08	$299,297.04	Disclosure SEC source: 0000921895-25-003310 · form408106003_12102025.xml · nonDerivative · entry 2 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND, L.P. · CIK 0001334426 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund, L.P. Disclosed balance after: 1,331,718 F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $317.00 to $320.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F2 · ownership.direct: 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. Read SEC document
December 08, 2025 Filed Dec 11, 2025 00:23 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	973	$315.08	$306,572.84	Disclosure SEC source: 0000921895-25-003310 · form408106003_12102025.xml · nonDerivative · entry 1 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND, L.P. · CIK 0001334426 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund, L.P. Disclosed balance after: 1,330,780 F3 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $312.89 to $320.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F2 · ownership.direct: 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. Read SEC document
December 05, 2025 Filed Dec 5, 2025 23:49 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	1,465	$306.90	$449,608.50	Disclosure SEC source: 0000921895-25-003290 · form408106bh_12052025.xml · nonDerivative · entry 3 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND, L.P. · CIK 0001334426 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund, L.P. Disclosed balance after: 1,329,807 F5 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $303.56 to $313.44. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F2 · ownership.direct: 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. Read SEC document
December 04, 2025 Filed Dec 5, 2025 23:49 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	1,139	$306.05	$348,590.95	Disclosure SEC source: 0000921895-25-003290 · form408106bh_12052025.xml · nonDerivative · entry 2 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND, L.P. · CIK 0001334426 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund, L.P. Disclosed balance after: 1,328,342 F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $303.85 to $308.50. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F2 · ownership.direct: 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. Read SEC document
December 03, 2025 Filed Dec 5, 2025 23:49 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	2,802	$303.32	$849,902.64	Disclosure SEC source: 0000921895-25-003290 · form408106bh_12052025.xml · nonDerivative · entry 1 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND, L.P. · CIK 0001334426 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund, L.P. Disclosed balance after: 1,327,203 F3 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $299.80 to $306.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F2 · ownership.direct: 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. Read SEC document
November 24, 2025 Filed Nov 24, 2025 22:54 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	1,819	$274.74	$499,752.06	Disclosure SEC source: 0000921895-25-003187 · form408106bh_11242025.xml · nonDerivative · entry 2 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND, L.P. · CIK 0001334426 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund, L.P. Disclosed balance after: 1,324,401 F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $272.65 to $275.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F2 · ownership.direct: 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. Read SEC document
November 24, 2025 Filed Nov 24, 2025 22:54 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	213	$1,406.27	$299,535.51	Disclosure SEC source: 0000921895-25-003187 · form408106bh_11242025.xml · nonDerivative · entry 1 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND, L.P. · CIK 0001334426 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund, L.P. Disclosed balance after: 128,227.7 F3 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1,395.00 to $1,418.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F2 · ownership.direct: 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. Read SEC document
December 17, 2024 Filed Dec 20, 2024 01:09 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	2,589	$249.55	$646,084.95	Disclosure SEC source: 0000921895-24-002994 · form408106003_12192024.xml · nonDerivative · entry 2 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND, L.P. · CIK 0001334426 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund, L.P. Disclosed balance after: 1,322,582 F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $234.87 to $260.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F2 · ownership.direct: 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. Read SEC document
December 17, 2024 Filed Dec 20, 2024 01:09 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	682	$1,250.34	$852,731.88	Disclosure SEC source: 0000921895-24-002994 · form408106003_12192024.xml · nonDerivative · entry 1 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND, L.P. · CIK 0001334426 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund, L.P. Disclosed balance after: 128,014.7 F3 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1,220.00 to $1,300.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F2 · ownership.direct: 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. Read SEC document
December 16, 2024 Filed Dec 17, 2024 02:30 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	703	$234.12	$164,586.36	Disclosure SEC source: 0000921895-24-002957 · form408106003_12162024.xml · nonDerivative · entry 6 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND, L.P. · CIK 0001334426 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund, L.P. Disclosed balance after: 1,319,993 F7 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $231.43 to $236.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F2 · ownership.direct: 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. Read SEC document
December 16, 2024 Filed Dec 17, 2024 02:30 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	114	$1,186.32	$135,240.48	Disclosure SEC source: 0000921895-24-002957 · form408106003_12162024.xml · nonDerivative · entry 5 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND, L.P. · CIK 0001334426 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund, L.P. Disclosed balance after: 127,332.7 F6 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1,154.45 to $1,200.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F2 · ownership.direct: 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. Read SEC document
December 13, 2024 Filed Dec 17, 2024 02:30 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	128	$234.98	$30,077.44	Disclosure SEC source: 0000921895-24-002957 · form408106003_12162024.xml · nonDerivative · entry 4 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND, L.P. · CIK 0001334426 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund, L.P. Disclosed balance after: 1,319,290 F5 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $234.01 to $234.99. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F2 · ownership.direct: 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. Read SEC document
December 13, 2024 Filed Dec 17, 2024 02:30 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	17	$1,160.00	$19,720.00	Disclosure SEC source: 0000921895-24-002957 · form408106003_12162024.xml · nonDerivative · entry 3 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND, L.P. · CIK 0001334426 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund, L.P. Disclosed balance after: 127,218.7 F2 · ownership.direct: 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. Read SEC document
December 12, 2024 Filed Dec 17, 2024 02:30 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	239	$234.13	$55,957.07	Disclosure SEC source: 0000921895-24-002957 · form408106003_12162024.xml · nonDerivative · entry 2 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND, L.P. · CIK 0001334426 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund, L.P. Disclosed balance after: 1,319,162 F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $233.50 to $235.00. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. F2 · ownership.direct: 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. 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.