SONIC AUTOMOTIVE INC SEC Filings

SMITH MARCUS G reported acquisition or exercise transactions in this Form 4 filing.

Sonic Automotive Inc. director and ten percent owner Marcus G. Smith reported an equity compensation grant rather than a market trade. He received 4,373 shares of Class A Common Stock at no cost under Sonic’s 2012 formula restricted stock plan for non‑employee directors, bringing his direct holdings to 104,494 shares. The filing also lists 836,534 shares of Class A Common Stock held indirectly by OBS Family, LLC, for which Smith disclaims beneficial ownership except to the extent of his pecuniary interest.

Hodge Michael Edward reported acquisition or exercise transactions in this Form 4 filing.

Sonic Automotive director Michael Edward Hodge received a grant of 3,608 shares of Class A Common Stock on April 30, 2026. The award was made as restricted stock units under the Sonic Automotive, Inc. 2012 Formula Restricted Stock and Deferral Plan for Non-Employee Directors.

The grant was issued at no cash cost per share and is compensation rather than an open-market purchase. Following this award, Hodge directly holds 21,415 shares of Sonic Automotive Class A Common Stock.

Sonic Automotive’s Q1 2026 revenue was stable, but earnings declined versus last year. Total revenue edged up to $3,688.5 million from $3,651.3 million, driven by higher used vehicle and Fixed Operations sales, while new vehicle revenue slipped.

Net income fell to $60.8 million from $70.6 million, and diluted EPS declined to $1.79 from $2.04. Gross profit improved to $598.8 million, but higher selling, general and administrative costs reduced operating income to $132.7 million from $145.0 million.

The Franchised Dealerships Segment remained the main profit contributor, while EchoPark and Powersports both improved segment income. Operating cash flow dropped to $35.5 million from $195.8 million, reflecting inventory growth. Total assets rose to $6,117.6 million, and total debt increased with a new $150.0 million Bridge Facility partly offset by mortgage amortization.

Sonic ended the quarter with $5.7 million in cash and $294.6 million of availability on its revolving credit facility. After quarter-end, it agreed to acquire six Harley-Davidson powersports locations for $66.2 million and expanded its Class A share repurchase authorization by $500.0 million, bringing remaining capacity to about $528.0 million.

Sonic Automotive reported first quarter 2026 results showing modest growth in sales and stronger performance at key segments. Total revenue reached $3.69 billion, up 1% year-over-year, while gross profit rose 6% to $598.8 million, reflecting better mix and higher profitability in parts, service and finance operations.

Reported net income was $60.8 million, down 14%, or $1.79 per diluted share, largely against a prior year that included sizeable cyber insurance gains. On an adjusted basis, net income rose to $54.9 million and adjusted EPS to $1.62, both up year-over-year.

The EchoPark used‑vehicle segment delivered all‑time record results, including revenue of $580.5 million, gross profit of $67.9 million, segment income of $16.2 million and adjusted EBITDA of $18.6 million. Powersports revenue grew 19% to $40.9 million with a narrower segment loss of $2.0 million.

Capital returns were significant. Sonic repurchased about 2.1 million Class A shares for $135.7 million, a 6% reduction in outstanding shares from December 31, 2025. The Board approved an additional $500 million share repurchase authorization, bringing remaining capacity to $528 million, and raised the quarterly dividend 8% to $0.41 per share.

Sonic Automotive, Inc. entered into a new Bridge Facility Credit Agreement with PNC Bank providing a senior unsecured term loan of $150 million. The company immediately borrowed the full amount, creating a short‑term financing source alongside its existing PNC Mortgage Facility.

The bridge loan matures on the earlier of 364 days after closing or a refinancing of the PNC Mortgage Facility. Borrowings bear interest at either Term SOFR plus 2.50% per annum or a Base Rate plus 1.50% per annum, at the company’s option, and may be prepaid without penalty.

The agreement includes customary covenants that can limit additional indebtedness, dividends, capital spending, and major asset transactions, as well as standard events of default such as cross‑defaults and change of control that could trigger immediate repayment of the outstanding balance.

Sonic Automotive EVP and CFO Heath Byrd reported performance-based equity activity involving the company’s Class A Common Stock. On March 31, 2026, 5,872 performance-based restricted stock units vested and were settled in cash, corresponding to 5,872 underlying shares.

Those 5,872 shares of Class A Common Stock were then disposed to Sonic Automotive at $68.57 per share, leaving Byrd with 148,539 directly held shares. An additional 12,129 shares are held indirectly by Bucknell Avenue, LLC, for which Byrd disclaims beneficial ownership except for his pecuniary interest.

Sonic Automotive, Inc. President Jeff Dyke reported the vesting of 7,534 performance-based restricted stock units on March 31, 2026, which were settled in cash rather than retained as stock. The filing shows a corresponding disposition of 7,534 shares of Class A Common Stock to Sonic Automotive at $68.57 per share, reflecting an issuer-related transaction rather than an open-market trade. After these entries, Dyke holds 593,668 shares of Class A Common Stock directly and 161,622 shares indirectly through Ash & Erin, LLC, while he disclaims beneficial ownership of the indirect holdings except to the extent of his pecuniary interest.

Sonic Automotive Chairman and CEO David Bruton Smith reported compensation-related equity activity tied to performance-based restricted stock units. On March 31, 2026, 13,259 performance-based RSUs from a prior 53,035-unit grant vested and were settled in cash, with a related disposition of 13,259 Class A shares to the issuer at $68.57 per share. Following these transactions, he held 532,000 Class A shares directly, and an additional 836,534 Class A shares were held indirectly by OBS Family, LLC, for which he disclaims beneficial ownership except to the extent of his pecuniary interest.

Sonic Automotive Inc: The Vanguard Group filed Amendment No. 11 to a Schedule 13G/A reporting 0 shares beneficially owned of Sonic Automotive Inc common stock (CUSIP 83545G102) and a 0% stake. The filing attributes the change to an internal realignment.

The filing states certain Vanguard subsidiaries will report holdings separately in reliance on SEC Release No. 34-39538, and that those subsidiaries pursue the same investment strategies as before.