Form 4: Sonic Automotive EVP and CFO Heath Byrd Reports Changes in Beneficial Ownership

Heath Byrd, EVP and CFO of Sonic Automotive, reports a transaction involving Class A Common Stock related to tax obligations and indirect ownership through Bucknell Avenue, LLC.

Summary

• On March 31, 2024, Heath Byrd, the EVP and CFO of Sonic Automotive, Inc., reported a transaction involving Class A Common Stock.
• 2,343 shares were disposed of to satisfy withholding tax obligations due upon the vesting of restricted stock units at a price of $56.94.
• Following the transaction, Byrd directly owns 195,925 shares of Class A Common Stock.
• Byrd also indirectly owns 12,129 shares through Bucknell Avenue, LLC, but disclaims beneficial ownership except to the extent of his pecuniary interest.
• The report was signed on April 02, 2024.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing an insider transaction for tax purposes, indicating a neutral sentiment.

Industry Context

This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their transactions in the company's stock. It's a standard practice for executives to sell shares to cover tax obligations when restricted stock units vest.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders, as it is a routine sale of shares to cover tax obligations.

Key Dates