El Pollo Loco holder Biglari group sells 100,000 shares
El Pollo Loco Holdings, Inc. major shareholder entities associated with Sardar Biglari reported open-market sales totaling 100,000 shares of common stock in early August 2026.
Rhea-AI Filing Summary
El Pollo Loco Holdings, Inc. major shareholder entities associated with Sardar Biglari reported open-market sales totaling 100,000 shares of common stock in early August 2026. Biglari Reinsurance Ltd. and First Guard Insurance Company each sold 50,000 shares at weighted-average prices around $16.73 and $16.90, across multiple trades within disclosed ranges. An affiliated fund, The Lion Fund II, L.P., reported indirect ownership of 3,538,961 shares as of August 3, 2026, with reporting persons disclaiming beneficial ownership beyond their pecuniary interests.
Positive
- None.
Negative
- None.
Insights
Analyzing...
Insider Trade Summary
Net Seller: 100,000 shares
Net Sell
5 txns
Insider
BIGLARI, SARDAR, BIGLARI CAPITAL CORP., LION FUND II, L.P., Biglari Holdings Inc., Biglari Reinsurance Ltd., Biglari Insurance Group Inc.
Role
10% Owner | 10% Owner | 10% Owner | Insider | Insider | Insider
Sold
100,000 shs ($1.69M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock, par value $0.01 per share F2, F3 | 40,000 | $16.90 | $676K |
| Sale | Common Stock, par value $0.01 per share F2, F4 | 40,000 | $16.90 | $676K |
| Sale | Common Stock, par value $0.01 per share F1, F3 | 10,000 | $16.73 | $167K |
| Sale | Common Stock, par value $0.01 per share F1, F4 | 10,000 | $16.73 | $167K |
| holding | Common Stock, par value $0.01 per share F5 | -- | -- | -- |
Holdings After Transaction:
Common Stock, par value $0.01 per share — 315,668 shares (Indirect, By Biglari Reinsurance Ltd.);
Common Stock, par value $0.01 per share — 66,422 shares (Indirect, By First Guard Insurance Company);
Common Stock, par value $0.01 per share — 3,538,961 shares (Indirect, By The Lion Fund II, L.P.)
Footnotes (5)
- F1. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $16.70 to $16.78. 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.
- F2. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $16.75 to $17.03. 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.
- F3. 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.
- F4. 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.
- F5. 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.
Key Figures
Total shares sold: 100000 shares
Shares sold by Biglari Reinsurance on 2026-08-05: 40000.0000 shares
Shares sold by First Guard on 2026-08-05: 40000.0000 shares
+5 more
8 metrics
Total shares sold
100000 shares
Aggregate El Pollo Loco common shares sold by Biglari-related entities in early August 2026
Shares sold by Biglari Reinsurance on 2026-08-05
40000.0000 shares
Indirect sale by Biglari Reinsurance Ltd. at weighted average price of 16.9000 per share
Shares sold by First Guard on 2026-08-05
40000.0000 shares
Indirect sale by First Guard Insurance Company at weighted average price of 16.9000 per share
Shares sold by Biglari Reinsurance on 2026-08-03
10000.0000 shares
Indirect sale by Biglari Reinsurance Ltd. at weighted average price of 16.7300 per share
Shares sold by First Guard on 2026-08-03
10000.0000 shares
Indirect sale by First Guard Insurance Company at weighted average price of 16.7300 per share
Price range for 2026-08-03 sales
$16.70–$16.78
Footnote F1 states sales that day occurred within this price range
Price range for 2026-08-05 sales
$16.75–$17.03
Footnote F2 states sales that day occurred within this price range
Indirect shares held by The Lion Fund II
3538961.0000 shares
Indirect ownership of El Pollo Loco common stock reported as of 2026-08-03
Key Terms
weighted average price, indirect, beneficially own, pecuniary interest, +1 more
5 terms
weighted average price financial
"The price reported in column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
indirect financial
"total_shares_following_transaction ... ownership_type": "indirect""
beneficially own financial
"may be deemed to beneficially own the shares of Common Stock"
Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.
pecuniary interest financial
"disclaims beneficial ownership ... except to the extent of his or its pecuniary interest"
ten percent owner financial
""is_ten_percent_owner": 1 for certain reporting persons"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What price ranges applied to the recent LOCO insider sales?
For the August 3, 2026 trades, the weighted average price of $16.7300 reflected multiple sales between $16.70 and $16.78. For August 5, 2026, the $16.9000 weighted average reflected trades between $16.75 and $17.03, as detailed in the footnotes.
AI-generated analysis. How Rhea-AI works. Not financial advice.
