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

What Happened

• Sardar Biglari, reported as a 10% owner of El Pollo Loco (LOCO), sold a total of 10,493 shares in open-market transactions between July 14 and July 16, 2026, generating aggregate proceeds of approximately $175,334. This was a sale (transaction code S), not a purchase or award.

Key Details

• Transaction breakdown:
  • 2026-07-14: 1,211 shares sold at a weighted avg price of $16.73 — proceeds $20,260 (prices ranged $16.70–$16.76; see F1).
  • 2026-07-15: 6,533 shares sold at a weighted avg price of $16.71 — proceeds $109,166 (prices ranged $16.70–$16.72; see F2).
  • 2026-07-16: 2,749 shares sold at a weighted avg price of $16.70 — proceeds $45,908 (prices ranged $16.70–$16.75; see F3).
• Filing was submitted July 16, 2026 (reporting period begins July 14); the filing does not indicate a late filing code.
• Shares owned after the transactions are not specified in the provided summary of the Form 4.
• Footnotes F4–F6 explain that certain shares are owned by affiliated entities (The Lion Fund II, Biglari Reinsurance, Biglari Insurance, First Guard) and that Mr. Biglari may be deemed to beneficially own those shares by virtue of his roles; the Form 4 was filed jointly by Mr. Biglari and those entities, with typical disclaimers of beneficial ownership except to the extent of pecuniary interest.

Context

• These entries are open-market sales by a significant (10%) shareholder/insider. The filing gives no reason for the sales; it simply reports the transactions and the weighted-average price ranges.