Laurance Roberts - Apr 24, 2023 Form 4 Insider Report for El Pollo Loco Holdings, Inc. (LOCO)

Role: CEO & PRESIDENT, Director
Signature: /s/ Anne Jollay, Attorney-in-Fact
Stock symbol: LOCO
Transactions as of: Apr 24, 2023
Transactions value $: -$285,000
Form type: 4
Date filed: 4/26/2023, 04:56 PM
Previous filing: Oct 18, 2022
Next filing: May 9, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LOCO	Common Stock	Options Exercise	$107K	+24.6K	+16.72%	$4.34	172K	Apr 24, 2023	Direct	F1
transaction	LOCO	Common Stock	Options Exercise	$107K	+24.6K	+14.33%	$4.34	196K	Apr 24, 2023	Direct	F1
transaction	LOCO	Common Stock	Options Exercise	$46.7K	+10.8K	+5.48%	$4.34	207K	Apr 24, 2023	Direct	F1
transaction	LOCO	Common Stock	Sale	-$545K	-60K	-28.95%	$9.09	147K	Apr 24, 2023	Direct	F2

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	LOCO	Stock Options (right to buy)	Options Exercise	$0	-24.6K	-13.68%	$0.00	155K	Apr 24, 2023	Common Stock	24.6K	$4.34	Direct	F1
transaction	LOCO	Stock Options (right to buy)	Options Exercise	$0	-24.6K	-15.85%	$0.00	131K	Apr 24, 2023	Common Stock	24.6K	$4.34	Direct	F1
transaction	LOCO	Stock Options (right to buy)	Options Exercise	$0	-10.8K	-8.23%	$0.00	120K	Apr 24, 2023	Common Stock	10.8K	$4.34	Direct	F1

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

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id	Content
F1	1. The transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 7, 2022.
F2	2. Reflects a weighted-average price. These shares were sold in multiple transactions at prices ranging from $8.99 to $9.22 per share, inclusive. The Reporting Person undertakes to furnish to the Issuer, any requesting shareholder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, complete information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Content

1. The transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 7, 2022.

2. Reflects a weighted-average price. These shares were sold in multiple transactions at prices ranging from $8.99 to $9.22 per share, inclusive. The Reporting Person undertakes to furnish to the Issuer, any requesting shareholder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, complete information regarding the number of shares sold at each separate price within the range set forth in this footnote.