| Name | Relationship | Address | Signature | Signature date | CIK |
|---|---|---|---|---|---|
| BIGLARI, SARDAR | Chairman and CEO, Director, 10%+ Owner | 19100 RIDGEWOOD PKWY, SUITE 1200, SAN ANTONIO | By: /s/ Sardar Biglari | 06 Mar 2026 | 0001334430 |
| BIGLARI CAPITAL CORP. | 10%+ Owner | 19100 RIDGEWOOD PKWY, SUITE 1200, SAN ANTONIO | By: Biglari Capital Corp.; By: /s/ Sardar Biglari, Chairman and Chief Executive Officer | 06 Mar 2026 | 0001334429 |
| LION FUND, L.P. | 10%+ Owner | 19100 RIDGEWOOD PKWY, SUITE 1200, SAN ANTONIO | By: The Lion Fund, L.P.; By: Biglari Capital Corp., its general partner; By: /s/ Sardar Biglari, Chairman and Chief Executive Officer | 06 Mar 2026 | 0001334426 |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | BH | Class B common stock | Purchase | $749,875 | +2,441 | +0.18% | $307.20 | 1,339,300 | 06 Mar 2026 | By The Lion Fund, L.P. | F2, F3 |
| holding | BH | Class A common stock | 128,812 | 06 Mar 2026 | By The Lion Fund, L.P. | F2 | |||||
| holding | BH | Class A common stock | 0 | 06 Mar 2026 | Direct | ||||||
| holding | BH | Class A common stock | 25,663 | 06 Mar 2026 | By Biglari Capital Corp. | F1 | |||||
| holding | BH | Class B common stock | 1 | 06 Mar 2026 | Direct | ||||||
| holding | BH | Class B common stock | 71,855 | 06 Mar 2026 | By Biglari Capital Corp. | F1 |
| 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, 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. |
| F3 | The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $303.69 to $309.46. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. |
This Form 4 is filed jointly by Mr. Biglari, BCC and the Lion Fund. Each of Mr. Biglari, BCC and the Lion Fund 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.