David Bruton Smith - 24 Aug 2022 Form 4 Insider Report for SONIC AUTOMOTIVE INC (SAH)

Role: Chairman and CEO, Director, 10%+ Owner
Signature: /s/ David Bruton Smith
Issuer symbol: SAH
Transactions as of: 24 Aug 2022
Net transactions value: -$5,864,111
Form type: 4
Filing time: 26 Aug 2022, 16:00:39 UTC
Previous filing: 04 Apr 2022
Next filing: 19 Jan 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SAH	Class A Common Stock	Options Exercise	$1,637,972	+97,731	+21%	$16.76	565,587	24 Aug 2022	Direct	F1
transaction	SAH	Class A Common Stock	Sale	$5,378,919	-97,731	-17%	$55.04	467,856	24 Aug 2022	Direct	F1, F2
transaction	SAH	Class A Common Stock	Options Exercise	$916,269	+54,670	+12%	$16.76	522,526	25 Aug 2022	Direct	F1
transaction	SAH	Class A Common Stock	Sale	$3,039,433	-54,670	-10%	$55.60	467,856	25 Aug 2022	Direct	F1, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	SAH	Options to purchase	Options Exercise	$0	-97,731	-32%	$0.000000	207,071	24 Aug 2022	Class A Common Stock	97,731	$16.76	Direct	F1, F4
transaction	SAH	Options to purchase	Options Exercise	$0	-54,670	-26%	$0.000000	152,401	25 Aug 2022	Class A Common Stock	54,670	$16.76	Direct	F1, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Employee stock options exercised and corresponding shares sold pursuant to pre-established 10b5-1 Trading Plan.
F2	This transaction was executed in multiple trades at prices ranging from $55.00 per share to $55.31 per share. The price reported reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
F3	This transaction was executed in multiple trades at prices ranging from $55.00 per share to $56.48 per share. The price reported reflects the weighted average sales price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
F4	The date indicated is the grant date, and the options vest in three equal annual installments on the anniversary of the grant date, subject to continued employment requirements and compliance with certain restrictive covenants.