Sardar Biglari - Jun 8, 2022 Form 4 Insider Report for Biglari Holdings Inc. (BH)

Role
Chairman and CEO, Director, 10%+ Owner
Signature
By: /s/ Sardar Biglari
Stock symbol
BH
Transactions as of
Jun 8, 2022
Transactions value $
$0
Form type
4
Date filed
6/10/2022, 06:07 PM
Previous filing
Dec 20, 2021
Next filing
Sep 23, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BH Class A common stock Other -83.5K -100% 0 Jun 8, 2022 By The Lion Fund II, L.P. F2, F4
transaction BH Class A common stock Other +83.5K +228.22% 120K Jun 8, 2022 By The Lion Fund, L.P. F3, F4
transaction BH Class B common stock Other -890K -100% 0 Jun 8, 2022 By The Lion Fund II, L.P. F2, F4
transaction BH Class B common stock Other +890K +243.43% 1.26M Jun 8, 2022 By The Lion Fund, L.P. F3, F4
holding BH Class A common stock 0.1 Jun 8, 2022 Direct
holding BH Class A common stock 25.7K Jun 8, 2022 By Biglari Capital Corp. F1
holding BH Class B common stock 1 Jun 8, 2022 Direct
holding BH Class B common stock 71.9K Jun 8, 2022 By Biglari Capital Corp. F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
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 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.
F3 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.
F4 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.

Remarks:

This Form 4 is filed jointly by Mr. Biglari, BCC, the Lion Fund and the Lion Fund II. Each of Mr. Biglari, BCC, the Lion Fund and Lion Fund II disclaims beneficial ownership of the shares of Class A and Class B common stock reported herein except to the extent of his or its pecuniary interest therein.