Skip to main content

SONIC AUTOMOTIVE INC

For the period ended Dec 31, 2024. Filed Mar 7, 2025.

View on SEC.gov

About this filing

What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.

Dec 31, 2024 · Filed Mar 7, 2025

Use the contents to explore the available documents and sections.

SAH$61.71-1.7%Stored close · as of Nov 6, 2026
See the whole filing, with its images and exhibits

Cover page

Show cover page

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of

the Securities Exchange Act of 1934

Filed by the Registrant ☑

Filed by a Party other than the Registrant ☐

Check the appropriate box:

☐ Preliminary Proxy Statement

☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))

☑ Definitive Proxy Statement

☐ Definitive Additional Materials

☐ Soliciting Material Pursuant to §240.14a-12

(Name of Registrant as Specified In Its Charter)

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check all boxes that apply):

☑ No fee required

☐ Fee paid previously with preliminary materials

☐ Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11

4401 Colwick Road

Charlotte, North Carolina 28211

March 7, 2025

Dear Stockholder:

You are cordially invited to attend our 2025 annual meeting of stockholders (the “Annual Meeting”) to be held at 2:00 p.m., Eastern Time, on Wednesday, April 23, 2025 at the corporate headquarters of Sonic Automotive, Inc. located at 4401 Colwick Road, Charlotte, North Carolina 28211. We look forward to greeting personally those stockholders who are able to attend.

The accompanying Notice of 2025 Annual Meeting of Stockholders and Proxy Statement describe the matters on which action will be taken at the Annual Meeting.

Whether or not you plan to attend the Annual Meeting, it is important that your shares be represented. To ensure that your vote will be received and counted, at your earliest convenience, please follow the instructions for voting your shares provided in the accompanying Proxy Statement and proxy card or voting instruction form, the notice letter or the voting instructions you receive by e-mail. Your vote is important regardless of the number of shares you own.

Sincerely,

/s/ David Bruton Smith

David Bruton Smith

Chairman and Chief Executive Officer

4401 Colwick Road

Charlotte, North Carolina 28211

(704) 566-2400

NOTICE OF 2025 ANNUAL MEETING OF STOCKHOLDERS

March 7, 2025

The 2025 annual meeting of stockholders (the “Annual Meeting”) of Sonic Automotive, Inc. (“Sonic”) will be held at 2:00 p.m., Eastern Time, on Wednesday, April 23, 2025 at Sonic’s corporate headquarters located at 4401 Colwick Road, Charlotte, North Carolina 28211, for the following purposes as described in the accompanying Proxy Statement:

  1. To elect the nine directors nominated by the Board of Directors;

  2. To ratify the appointment of Grant Thornton LLP to serve as Sonic’s independent registered public accounting firm for fiscal 2025;

  3. To approve, on an advisory basis, Sonic’s named executive officer compensation in fiscal 2024; and

  4. To transact such other business as may properly come before the Annual Meeting or any adjournment or postponement thereof.

The Board of Directors unanimously recommends that you vote “FOR” Items 1, 2 and 3. The proxy holders will use their discretion to vote on other matters that may properly come before the Annual Meeting or any adjournment or postponement thereof.

Only holders of record of Sonic’s Class A Common Stock and Class B Common Stock as of the close of business on February 28, 2025 are entitled to receive notice of, and to vote at, the Annual Meeting.

Your vote is important. Whether or not you plan to attend the Annual Meeting, you are encouraged to vote as soon as possible to ensure that your shares are represented at the meeting. For specific voting instructions, please refer to the information provided in the accompanying Proxy Statement and proxy card or voting instruction form, the notice letter or the voting instructions you receive by e-mail.

By Order of the Board of Directors,

/s/ Stephen K. Coss

Stephen K. Coss

Senior Vice President, General Counsel and Secretary

Important Notice Regarding the Availability of Proxy Materials

for the Annual Meeting of Stockholders To Be Held on April 23, 2025:

The Notice of Annual Meeting and Proxy Statement

We have elected to furnish proxy materials to stockholders via the Internet by mailing a Notice of Internet Availability of Proxy Materials, instead of mailing or e-mailing copies of those materials. The Notice of Internet Availability of Proxy Materials directs stockholders to a website where they can access our proxy materials, including this Proxy Statement and the 2024 Annual Report to Stockholders, and view instructions on how to vote in person, via the Internet, by telephone or by mail. If you received a Notice of Internet Availability of Proxy Materials and would prefer to receive a paper copy of our proxy materials, please follow the instructions included in the Notice of Internet Availability of Proxy Materials.

TABLE OF CONTENTS

Page
General Information1
Security Ownership of Certain Beneficial Owners and Management5
Delinquent Section 16(a) Reports8
Proposal 1:Election of Directors9
Corporate Governance and Board of Directors13
Director Compensation31
Audit Committee Report34
Proposal 2:Ratification of the Appointment of Independent Registered Public Accounting Firm36
Executive Compensation39
Compensation Discussion and Analysis39
Compensation Committee Report55
Summary Compensation Table56
Grants of Plan-Based Awards During 202458
Employment Agreements and Change in Control Agreements59
Outstanding Equity Awards at Fiscal 2024 Year-End61
Option Exercises and Stock Vested During 202462
Pension Benefits for 202463
CEO Pay Ratio67
Potential Payments Upon Termination or Change in Control68
Pay Versus Performance73
Equity Compensation Plan Information79
Proposal 3:Advisory Vote to Approve Named Executive Officer Compensation82
Additional Corporate Governance and Other Information84

i

PROXY STATEMENT

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.