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

What Happened

• Sardar Biglari (reported as a 10% owner via affiliated entities) sold a total of 7,157 El Pollo Loco (LOCO) shares in open-market transactions on July 29–30, 2026. The trades totaled approximately $119,588.
• Individual transactions reported: 3,306 shares at a weighted avg. $16.71 ($55,243); 3,305 shares at a weighted avg. $16.71 ($55,227); and two smaller lots of 273 shares each at $16.70 (~$4,559 each).
• These were sales (S) — routine dispositions rather than purchases (not a bullish signal).

Key Details

• Transaction dates: July 29, 2026 and July 30, 2026.
• Prices: weighted averages reported ($16.70–$16.75 range across trades; see footnotes). The filing says individual sale prices ranged from $16.70 to $16.75; exact breakdown by price is available on request per the filing.
• Total shares sold: 7,157; total proceeds: ≈ $119,588.
• Shares owned after transaction: not specified in the excerpt of the filing provided.
• Footnotes/ownership structure: shares are held directly by affiliated entities (Biglari Reinsurance, First Guard, The Lion Fund II, etc.). The Form 4 is filed jointly by Mr. Biglari and several related entities; each disclaims beneficial ownership except to the extent of pecuniary interest. See F3–F5 for details of entity relationships.
• No 10b5-1 plan, tax-withholding, or late-filing indication noted in the filing excerpt.
• Transaction code: S = Sale.

Context

• As a reported 10% owner, these sales reflect transactions by an institutional/affiliate position rather than a simple employee buy/sell. Sales by large holders can be for many reasons (portfolio rebalancing, liquidity needs, tax planning), and do not by themselves indicate company prospects.
• The filing was submitted July 31, 2026 covering trades through July 30, 2026, which is within the SEC’s Form 4 reporting window (so appears timely).