El Pollo Loco (LOCO) 10% Owner Sardar Biglari Sells 75,000 Shares

What Happened

• Sardar Biglari, a reported 10% owner (and affiliated entities), sold 75,000 shares of El Pollo Loco Holdings, Inc. (LOCO) in open-market transactions on July 13, 2026. The weighted-average price reported was $16.74, for aggregate proceeds of $1,255,500. This filing reports sales (code S), not purchases.

Key Details

• Transaction date: 2026-07-13 (reported on Form 4 filed 2026-07-14; filing appears timely).
• Price: weighted-average $16.74; actual trade prices ranged $16.70–$17.02 (per footnote).
• Shares sold: 75,000; proceeds: $1,255,500.
• Shares owned after transaction: not specified in the provided Form 4 excerpt.
• Notable footnotes: F1 notes the reported price is a weighted average across multiple trades and offers to provide per-trade detail on request. F2–F4 explain that various affiliated entities (The Lion Fund II, Biglari Reinsurance, First Guard, Biglari Insurance, Biglari Holdings, and Biglari Capital Corp.) hold shares and that the filing is submitted jointly; each party disclaims beneficial ownership except to the extent of pecuniary interest.
• Filing: Jointly filed by Mr. Biglari and affiliated entities; no indication of late filing in the provided record.

Context

• This is a sale by a 10% owner and affiliated entities, not an executive stock grant or option exercise. Sales by large shareholders can reflect portfolio or liquidity needs; Form 4s do not state motivation. The sale was executed across multiple open-market trades at prices between $16.70 and $17.02.