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
December 15, 2023 Filed Dec 15, 2023 22:25 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	440	$175.47	$77,206.80	Disclosure SEC source: 0000921895-23-002772 · form408106003_12152023.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: 1,265,811 F6 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $173.48 to $176.50. 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 15, 2023 Filed Dec 15, 2023 22:25 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	81	$887.87	$71,917.47	Disclosure SEC source: 0000921895-23-002772 · form408106003_12152023.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: 121,136.7 F5 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $880.00 to $889.98. 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 14, 2023 Filed Dec 15, 2023 22:25 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	484	$178.45	$86,369.80	Disclosure SEC source: 0000921895-23-002772 · form408106003_12152023.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: 1,265,371 F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $177.50 to $179.00. 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 14, 2023 Filed Dec 15, 2023 22:25 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	183	$891.54	$163,151.82	Disclosure SEC source: 0000921895-23-002772 · form408106003_12152023.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: 121,055.7 F3 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $887.50 to $894.96. 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 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, 2023 Filed Dec 13, 2023 22:57 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	1,297	$175.29	$227,351.13	Disclosure SEC source: 0000921895-23-002761 · form408106003_12132023.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: 1,264,887 F8 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $174.00 to $177.00. 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, 2023 Filed Dec 13, 2023 22:57 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	132	$880.26	$116,194.32	Disclosure SEC source: 0000921895-23-002761 · form408106003_12132023.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: 120,872.7 F7 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $865.00 to $890.00. 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 12, 2023 Filed Dec 13, 2023 22:57 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	3,483	$167.75	$584,273.25	Disclosure SEC source: 0000921895-23-002761 · form408106003_12132023.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: 1,263,590 F6 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $161.00 to $175.00. 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 12, 2023 Filed Dec 13, 2023 22:57 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	252	$826.62	$208,308.24	Disclosure SEC source: 0000921895-23-002761 · form408106003_12132023.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: 120,740.7 F5 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $810.00 to $860.00. 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 11, 2023 Filed Dec 13, 2023 22:57 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	4,109	$156.63	$643,592.67	Disclosure SEC source: 0000921895-23-002761 · form408106003_12132023.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: 1,260,107 F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $153.00 to $160.00. 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 11, 2023 Filed Dec 13, 2023 22:57 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	452	$778.66	$351,954.32	Disclosure SEC source: 0000921895-23-002761 · form408106003_12132023.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: 120,488.7 F3 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $757.50 to $800.00. 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
August 17, 2023 Filed Aug 17, 2023 20:49 UTC	El Pollo Loco Holdings, Inc. LOCO · Entity 5532	PurchaseCommon Stock, par value $0.01 per share	20,000	$10.08	$201,600.00	Disclosure SEC source: 0000921895-23-001996 · form408106005_08172023.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 · 10% owner 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: 120,000 F5 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $10.04 to $10.15. 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.nature: Shares owned directly by First Guard Insurance Company ("First Guard"). First Guard is a wholly owned subsidiary of Biglari Holdings Inc. ("Biglari Holdings"). 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 Holdings and Sardar Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by First Guard. Read SEC document
August 16, 2023 Filed Aug 17, 2023 20:49 UTC	El Pollo Loco Holdings, Inc. LOCO · Entity 5532	PurchaseCommon Stock, par value $0.01 per share	54,300	$10.20	$553,860.00	Disclosure SEC source: 0000921895-23-001996 · form408106005_08172023.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 · 10% owner 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: 100,000 F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $10.17 to $10.29. 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.nature: Shares owned directly by First Guard Insurance Company ("First Guard"). First Guard is a wholly owned subsidiary of Biglari Holdings Inc. ("Biglari Holdings"). 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 Holdings and Sardar Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by First Guard. Read SEC document
August 15, 2023 Filed Aug 17, 2023 20:49 UTC	El Pollo Loco Holdings, Inc. LOCO · Entity 5532	PurchaseCommon Stock, par value $0.01 per share	45,700	$10.18	$465,226.00	Disclosure SEC source: 0000921895-23-001996 · form408106005_08172023.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 · 10% owner 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: 45,700 F3 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $10.09 to $10.25 . 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.nature: Shares owned directly by First Guard Insurance Company ("First Guard"). First Guard is a wholly owned subsidiary of Biglari Holdings Inc. ("Biglari Holdings"). 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 Holdings and Sardar Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by First Guard. Read SEC document
August 08, 2023 Filed Aug 9, 2023 21:43 UTC	El Pollo Loco Holdings, Inc. LOCO · Entity 5532	PurchaseCommon Stock, par value $0.01 per share	106,760	$10.84	$1,157,278.40	Disclosure SEC source: 0000921895-23-001862 · form408106003loco_08092023.xml · nonDerivative · entry 2 BIGLARI, SARDAR · CIK 0001334430 · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 4,000,000 F3 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $10.71 to $11.00. 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. F1 · 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 member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II. Read SEC document
August 07, 2023 Filed Aug 9, 2023 21:43 UTC	El Pollo Loco Holdings, Inc. LOCO · Entity 5532	PurchaseCommon Stock, par value $0.01 per share	100,560	$10.63	$1,068,952.80	Disclosure SEC source: 0000921895-23-001862 · form408106003loco_08092023.xml · nonDerivative · entry 1 BIGLARI, SARDAR · CIK 0001334430 · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: No plan indicated Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 3,893,240 F2 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $10.57 to $10.80. 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. F1 · 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 member, Chairman and Chief Executive Officer of BCC. By virtue of these relationships, BCC and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by the Lion Fund II. Read SEC document
June 08, 2022 Filed Jun 10, 2022 22:07 UTC	Biglari Holdings Inc. BH · Entity 4809	OtherClass B common stock	890,272	Not disclosed	Not disclosed	Disclosure SEC source: 0000921895-22-001953 · form408106003_06102022.xml · nonDerivative · entry 8 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund, L.P. Disclosed balance after: 1,255,998 F4 · price: The Lion Fund II transferred 83,465 shares of Class A common stock and 890,272 shares of Class B common stock held by it to the Lion Fund in a transaction exempt from Section 16, pursuant to Rule 16a-13 or otherwise. F3 · 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 08, 2022 Filed Jun 10, 2022 22:07 UTC	Biglari Holdings Inc. BH · Entity 4809	OtherClass B common stock	890,272	Not disclosed	Not disclosed	Disclosure SEC source: 0000921895-22-001953 · form408106003_06102022.xml · nonDerivative · entry 7 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 0 F4 · price: The Lion Fund II transferred 83,465 shares of Class A common stock and 890,272 shares of Class B common stock held by it to the Lion Fund in a transaction exempt from Section 16, pursuant to Rule 16a-13 or otherwise. F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document
June 08, 2022 Filed Jun 10, 2022 22:07 UTC	Biglari Holdings Inc. BH · Entity 4809	OtherClass A common stock	83,465	Not disclosed	Not disclosed	Disclosure SEC source: 0000921895-22-001953 · form408106003_06102022.xml · nonDerivative · entry 4 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund, L.P. Disclosed balance after: 120,036.7 F4 · price: The Lion Fund II transferred 83,465 shares of Class A common stock and 890,272 shares of Class B common stock held by it to the Lion Fund in a transaction exempt from Section 16, pursuant to Rule 16a-13 or otherwise. F3 · 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 08, 2022 Filed Jun 10, 2022 22:07 UTC	Biglari Holdings Inc. BH · Entity 4809	OtherClass A common stock	83,465	Not disclosed	Not disclosed	Disclosure SEC source: 0000921895-22-001953 · form408106003_06102022.xml · nonDerivative · entry 3 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 0 F4 · price: The Lion Fund II transferred 83,465 shares of Class A common stock and 890,272 shares of Class B common stock held by it to the Lion Fund in a transaction exempt from Section 16, pursuant to Rule 16a-13 or otherwise. F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document
December 17, 2021 Filed Dec 21, 2021 01:02 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	10,072	$148.68	$1,497,504.96	Disclosure SEC source: 0001193805-21-001787 · e621178_4-bh.xml · nonDerivative · entry 7 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 890,272 F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $143.09 to $150.96. 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 purchased at each separate price within the range set forth in this footnote. F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document
December 14, 2021 Filed Dec 16, 2021 00:46 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	547	$143.81	$78,664.07	Disclosure SEC source: 0000921895-21-002858 · form408106003_12152021.xml · nonDerivative · entry 8 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 880,200 F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $143.00 to $144.00. 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 II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document
December 13, 2021 Filed Dec 16, 2021 00:46 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	389	$144.00	$56,016.00	Disclosure SEC source: 0000921895-21-002858 · form408106003_12152021.xml · nonDerivative · entry 7 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 879,653 F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document
November 24, 2021 Filed Nov 24, 2021 23:17 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	2,200	$145.64	$320,408.00	Disclosure SEC source: 0001193805-21-001628 · e621109_4-bh.xml · nonDerivative · entry 9 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 879,264 F5 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $143.25 to $146.59. 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 II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document
November 24, 2021 Filed Nov 24, 2021 23:17 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	60	$722.44	$43,346.40	Disclosure SEC source: 0001193805-21-001628 · e621109_4-bh.xml · nonDerivative · entry 4 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 83,465 F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $711.14 to $725.92. 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 II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document
November 22, 2021 Filed Nov 24, 2021 23:17 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	26,568	$143.00	$3,799,224.00	Disclosure SEC source: 0001193805-21-001628 · e621109_4-bh.xml · nonDerivative · entry 8 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 877,064 F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document
November 22, 2021 Filed Nov 24, 2021 23:17 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	138	$720.00	$99,360.00	Disclosure SEC source: 0001193805-21-001628 · e621109_4-bh.xml · nonDerivative · entry 3 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 83,405 F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document
August 12, 2021 Filed Aug 12, 2021 22:45 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	12,937	$171.56	$2,219,471.72	Disclosure SEC source: 0000921895-21-002023 · form408106003_08122021.xml · nonDerivative · entry 9 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 850,496 F7 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $169.45 to $174.00. 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 II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document
August 12, 2021 Filed Aug 12, 2021 22:45 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	818	$867.30	$709,451.40	Disclosure SEC source: 0000921895-21-002023 · form408106003_08122021.xml · nonDerivative · entry 5 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 83,267 F6 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $850.00 to $870.00. 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 II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document
August 11, 2021 Filed Aug 12, 2021 22:45 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	258	$850.00	$219,300.00	Disclosure SEC source: 0000921895-21-002023 · form408106003_08122021.xml · nonDerivative · entry 4 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 82,449 F5 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $849.99 to $850.00. 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 II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document
August 10, 2021 Filed Aug 12, 2021 22:45 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	542	$825.91	$447,643.22	Disclosure SEC source: 0000921895-21-002023 · form408106003_08122021.xml · nonDerivative · entry 3 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 82,191 F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $800.00 to $840.00. 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 II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document
June 16, 2021 Filed Jun 16, 2021 21:09 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	73	$899.79	$65,684.67	Disclosure SEC source: 0000921895-21-001651 · form408106003_06162021.xml · nonDerivative · entry 4 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 81,649 F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $885.00 to $900.00. 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 II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document
June 15, 2021 Filed Jun 16, 2021 21:09 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	75	$915.00	$68,625.00	Disclosure SEC source: 0000921895-21-001651 · form408106003_06162021.xml · nonDerivative · entry 3 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 81,576 F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document
June 14, 2021 Filed Jun 14, 2021 23:11 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	38	$905.00	$34,390.00	Disclosure SEC source: 0000921895-21-001619 · form408106003_06142021.xml · nonDerivative · entry 5 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 81,501 F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document
June 11, 2021 Filed Jun 14, 2021 23:11 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	537	$915.33	$491,532.21	Disclosure SEC source: 0000921895-21-001619 · form408106003_06142021.xml · nonDerivative · entry 4 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 81,463 F5 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $905.00 to $920.00. 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 II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document
June 10, 2021 Filed Jun 14, 2021 23:11 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	245	$899.89	$220,473.05	Disclosure SEC source: 0000921895-21-001619 · form408106003_06142021.xml · nonDerivative · entry 3 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 80,926 F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $892.50 to $900.00. 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 II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document
June 08, 2021 Filed Jun 8, 2021 22:13 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	102	$910.96	$92,917.92	Disclosure SEC source: 0000921895-21-001561 · form408106003_06082021.xml · nonDerivative · entry 5 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 80,681 F6 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $900.00 to $916.00. 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 II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document
June 07, 2021 Filed Jun 8, 2021 22:13 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	1,300	$867.20	$1,127,360.00	Disclosure SEC source: 0000921895-21-001561 · form408106003_06082021.xml · nonDerivative · entry 4 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 80,579 F5 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $800.00 to $900.00. 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 II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document
June 04, 2021 Filed Jun 8, 2021 22:13 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	373	$816.81	$304,670.13	Disclosure SEC source: 0000921895-21-001561 · form408106003_06082021.xml · nonDerivative · entry 3 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 79,279 F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $808.05 to $820.00. 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 II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document
June 02, 2021 Filed Jun 3, 2021 00:31 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	227	$855.19	$194,128.13	Disclosure SEC source: 0000921895-21-001536 · form408106003_06022021.xml · nonDerivative · entry 5 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 78,906 F6 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $845.00 to $860.00. 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 II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document
June 01, 2021 Filed Jun 3, 2021 00:31 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	421	$846.20	$356,250.20	Disclosure SEC source: 0000921895-21-001536 · form408106003_06022021.xml · nonDerivative · entry 4 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 78,679 F5 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $827.50 to $860.00. 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 II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document
May 28, 2021 Filed Jun 3, 2021 00:31 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	71	$807.57	$57,337.47	Disclosure SEC source: 0000921895-21-001536 · form408106003_06022021.xml · nonDerivative · entry 3 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 78,258 F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $796.85 to $810.00. 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 II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document
May 17, 2021 Filed May 19, 2021 22:59 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	135	$770.00	$103,950.00	Disclosure SEC source: 0000921895-21-001422 · form408106003_05192021.xml · nonDerivative · entry 3 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 78,187 F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document
May 13, 2021 Filed May 13, 2021 23:16 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	2,311	$150.63	$348,105.93	Disclosure SEC source: 0000921895-21-001305 · form408106003_05132021.xml · nonDerivative · entry 11 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 837,559 F7 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $147.80 to $152.00. 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 II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document
May 13, 2021 Filed May 13, 2021 23:16 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	15,000	$148.00	$2,220,000.00	Disclosure SEC source: 0000921895-21-001305 · form408106003_05132021.xml · nonDerivative · entry 10 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 835,248 F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document
May 13, 2021 Filed May 13, 2021 23:16 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	145	$766.01	$111,071.45	Disclosure SEC source: 0000921895-21-001305 · form408106003_05132021.xml · nonDerivative · entry 4 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 78,052 F5 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $754.53 to $770.00. 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 II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document
May 12, 2021 Filed May 13, 2021 23:16 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	200	$148.00	$29,600.00	Disclosure SEC source: 0000921895-21-001305 · form408106003_05132021.xml · nonDerivative · entry 9 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 820,248 F2 · ownership.direct: Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document
May 11, 2021 Filed May 13, 2021 23:16 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass B common stock	1,800	$155.82	$280,476.00	Disclosure SEC source: 0000921895-21-001305 · form408106003_05132021.xml · nonDerivative · entry 8 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 820,048 F6 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $154.00 to $159.00. 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 II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document
May 11, 2021 Filed May 13, 2021 23:16 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	544	$780.50	$424,592.00	Disclosure SEC source: 0000921895-21-001305 · form408106003_05132021.xml · nonDerivative · entry 3 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 77,907 F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $766.49 to $795.00. 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 II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document
March 11, 2021 Filed Mar 15, 2021 23:42 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	275	$747.36	$205,524.00	Disclosure SEC source: 0000921895-21-000746 · form408106003_03152021.xml · nonDerivative · entry 3 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 77,363 F4 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $734.99 to $750.00. 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 II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document
March 08, 2021 Filed Mar 8, 2021 22:36 UTC	Biglari Holdings Inc. BH · Entity 4809	PurchaseClass A common stock	284	$744.45	$211,423.80	Disclosure SEC source: 0000921895-21-000681 · form408106003_03082021.xml · nonDerivative · entry 4 BIGLARI, SARDAR · CIK 0001334430 · Director · Chairman and CEO · 10% owner BIGLARI CAPITAL CORP. · CIK 0001334429 · 10% owner LION FUND II, L.P. · CIK 0001580602 · 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: Not disclosed Ownership: Indirect · By The Lion Fund II, L.P. Disclosed balance after: 77,088 F5 · price: The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $738.00 to $750.00. 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 II, L.P. (the "Lion Fund II"). BCC is the general partner of the Lion Fund 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 shares of Class A and Class B common stock of the Issuer owned directly by the Lion Fund II. Read SEC document

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