Jeff Dyke - Apr 10, 2023 Form 4 Insider Report for SONIC AUTOMOTIVE INC (SAH)

Role: President, Director
Signature: /s/ Jeff Dyke
Stock symbol: SAH
Transactions as of: Apr 10, 2023
Transactions value $: -$2,947,849
Form type: 4
Date filed: 4/10/2023, 06:15 PM
Previous filing: Apr 4, 2023
Next filing: Feb 8, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SAH	Class A Common Stock	Options Exercise	$1.45M	+86.6K	+10.64%	$16.76	901K	Apr 10, 2023	Direct	F1
transaction	SAH	Class A Common Stock	Sale	-$4.4M	-86.6K	-9.61%	$50.80	814K	Apr 10, 2023	Direct	F1, F2
holding	SAH	Class A Common Stock						177K	Apr 10, 2023	by Ash & Erin, LLC	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	-86.6K	-100%	$0.00^*	0	Apr 10, 2023	Class A Common Stock	86.6K	$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 $50.02 per share to $51.61 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	The reporting person disclaims beneficial ownership of such shares of Sonic Automotive, Inc.'s Class A Common Stock, except to the extent of his pecuniary interest therein.
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.