December 5, 2025 · Form 4 insider transaction
BIGLARI, SARDAR bought 1,465 shares of Biglari Holdings Inc. at $306.90 per share, a transaction worth $449.6K. The trade was recorded as open-market purchase and disclosed on an SEC Form 4, filed 0 days after the transaction.
The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $303.56 to $313.44. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.; Shares owned directly by The Lion Fund, L.P. (the "Lion Fund"). BCC is the general partner of the Lion Fund. Mr. Biglari is the sole member, 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 Class A and Class B common stock of the Issuer owned directly by the Lion Fund.