Biglari Holdings Inc. 10-K

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities Market Information Biglari Holdings’ Class A common stock and Class B common stock are listed for trading on the NYSE, trading symbol: BH.A and BH, respectively. Shareholders Biglari Holdings had 1,403 beneficial shareholders of its Class A common stock and 4,348 beneficial shareholders of its Class B common stock as of February 6, 2025. Dividends Biglari Holdings has never declared a dividend. Issuer Purchases of Equity Securities From November 12, 2024 through December 17, 2024, The Lion Fund, L.P. purchased 5,857 shares of Class A common stock and 45,366 shares of Class B common stock. The Lion Fund, L.P. may be deemed an “affiliated purchaser” as defined in Rule 10b-18(a)(3) under the Securities Exchange Act of 1934, as amended. The purchases were made through open market transactions. Total Number of Class A Shares Purchased Average Price Paid per Class A Share Total Number of Class B Shares Purchased Average Price Paid per Class B Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Maximum Number of Shares That May Yet Be Purchased Under Plans or Programs October 1, 2024 - October 31, 2024 — $ — — $ — — — November 1, 2024 - November 30, 2024 4,349 $ 1,012.12 34,838 $ 203.90 — — December 1, 2024 - December 31, 2024 1,508 $ 1,188.35 10,528 $ 231.10 — — Total 5,857 45,366 — Item 6. [Reserved] 11 Table of Contents