Byrd Heath 4

What Happened

• Byrd Heath, EVP and Chief Financial Officer of Sonic Automotive, had 5,872 performance-based restricted stock units (RSUs) vest on March 31, 2026. The vested units were converted/settled in cash rather than delivered as shares, resulting in a cash payment of $68.57 per unit for a total of $402,643. The Form 4 shows the derivative conversion (code M) and a disposition to the issuer (code D) for the same 5,872 units.

Key Details

• Transaction date: March 31, 2026; filing date: April 2, 2026 (Form 4).
• Price / value: $68.57 per unit; total cash settlement $402,643.
• Shares/units involved: 5,872 RSUs vested and settled in cash.
• Original grant: 23,487 performance-based RSUs granted Feb 5, 2025; 25% (5,872) vested Mar 31, 2026 per the grant schedule.
• Beneficial ownership: Reporting person disclaims beneficial ownership except for pecuniary interest (footnote).
• Filing timeliness: Filed April 2, 2026 — appears timely (within the typical 2 business-day Form 4 window).

Context

• These were performance-based RSUs that vested and were settled in cash (company paid cash in lieu of issuing shares), not an open-market sale by the insider. Such settlements are often routine to satisfy tax withholding or company settlement provisions and do not necessarily indicate buy/sell sentiment.