Form 4: Sonic Automotive CEO David Bruton Smith Reports Share Transaction

David Bruton Smith, Chairman and CEO of Sonic Automotive, reports a transaction involving Class A Common Stock to cover withholding tax obligations.

Summary

• On March 31, 2024, David Bruton Smith, Chairman and CEO of Sonic Automotive, engaged in a transaction involving Class A Common Stock.
• The transaction involved the disposal of 6,942 shares to satisfy withholding tax obligations upon the vesting of restricted stock units.
• The price per share for the transaction was $56.94.
• Following the transaction, Smith directly owns 583,054 shares of Class A Common Stock.
• Smith also indirectly owns 836,534 shares through OBS Family, LLC, but disclaims beneficial ownership except to the extent of his pecuniary interest.
• The report was filed on April 2, 2024.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting a routine transaction. It doesn't inherently convey positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates activity related to executive compensation and tax obligations, which is common among publicly traded companies.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders, as it is related to tax obligations and does not represent a significant change in ownership.

Key Dates