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Biglari Holdings Inc.

BIGLARI, SARDAR (10% owner) sells BH.A shares

4BH.AFiled Aug 11, 2026, 1:07 PM ET· Period Aug 7, 2026

About this filing

Biglari Holdings Inc. (BH.A) filed Form 4 (insider transaction) with the SEC on Aug 11, 2026. Form 4 reports a company insider’s trades in the company’s shares.

View original filing on SEC.gov (opens SEC EDGAR)

Key facts

Insider 1
BIGLARI, SARDAR · 10% owner
Insider 2
BIGLARI CAPITAL CORP. · 10% owner
Insider 3
LION FUND II, L.P. · 10% owner
Insider 4
Biglari Holdings Inc. · See Explanation of Responses
Insider 5
Biglari Reinsurance Ltd. · See Explanation of Responses
Insider 6
Biglari Insurance Group Inc. · See Explanation of Responses
DateTransactionSharesPriceValueHeld afterOwnership
Aug 7, 2026S · open-market saleFootnotes F1, F2−550$17.06$9,383.00315,118Indirect (By Biglari Reinsurance Ltd.)
Aug 7, 2026S · open-market saleFootnotes F1, F3−550$17.06$9,383.0065,872Indirect (By First Guard Insurance Company)
Footnotes
  1. F1 The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $17.05 to $17.13. 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 sold at each separate price within the range set forth in this footnote.
  2. F2 Shares owned directly by Biglari Reinsurance Ltd. ("Biglari Reinsurance"). Biglari Insurance Group Inc. ("Biglari Insurance") is the direct parent company of Biglari Reinsurance. Biglari Holdings Inc. ("Biglari Holdings") is the direct parent company of Biglari Insurance. Mr. Biglari is the Chairman and Chief Executive Officer of Biglari Holdings. By virtue of these relationships, Biglari Insurance, Biglari Holdings and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by Biglari Reinsurance.
  3. F3 Shares owned directly by First Guard Insurance Company ("First Guard"). Biglari Reinsurance is the direct parent company of First Guard. Biglari Insurance is the direct parent company of Biglari Reinsurance. Biglari Holdings is the direct parent company of Biglari Insurance. Mr. Biglari is the Chairman and Chief Executive Officer of Biglari Holdings and has investment discretion over the securities owned by First Guard. By virtue of these relationships, Biglari Reinsurance, Biglari Insurance, Biglari Holdings and Mr. Biglari may be deemed to beneficially own the shares of Common Stock of the Issuer owned directly by First Guard.
  4. F4 Shares owned directly by The Lion Fund II, L.P. (the "Lion Fund II"). Biglari Capital Corp. ("BCC") is the general partner of the Lion Fund II. Mr. Biglari is the sole owner, 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 Common Stock of the Issuer owned directly by the Lion Fund II.

Remarks: This Form 4 is filed jointly by Mr. Biglari, Biglari Holdings, BCC, the Lion Fund II, Biglari Reinsurance and Biglari Insurance. Each of the foregoing disclaims beneficial ownership of the shares of Common Stock reported herein except to the extent of his or its pecuniary interest therein.

More BH.A filings

Not investment advice. Summaries can contain errors; the SEC filing is the official record.