SONIC AUTOMOTIVE INC
For the period ended Dec 31, 2025. Filed Mar 6, 2026.
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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, 2025 · Filed Mar 6, 2026
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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
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☑ Definitive Proxy Statement
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4401 Colwick Road
Charlotte, North Carolina 28211
March 6, 2026
Dear Stockholder:
You are cordially invited to attend our 2026 annual meeting of stockholders (the “Annual Meeting”) to be held at 2:00 p.m., Eastern Time, on Wednesday, April 29, 2026 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 2026 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 2026 ANNUAL MEETING OF STOCKHOLDERS
March 6, 2026
The 2026 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 29, 2026 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:
To elect the nine directors nominated by the Board of Directors;
To ratify the appointment of Grant Thornton LLP to serve as Sonic’s independent registered public accounting firm for fiscal 2026;
To approve, on an advisory basis, Sonic’s named executive officer compensation in fiscal 2025;
To approve the Sonic Automotive, Inc. 2026 Equity Incentive Plan;
To approve the amendment and restatement of the Sonic Automotive, Inc. 2012 Formula Restricted Stock and Deferral Plan for Non-Employee Directors; and
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, 3, 4 and 5. 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 March 2, 2026 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 29, 2026:
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 2025 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 Information | 1 | |
| Security Ownership of Certain Beneficial Owners and Management | 5 | |
| Proposal 1: | Election of Directors | 8 |
| Corporate Governance and Board of Directors | 12 | |
| Director Compensation | 31 | |
| Audit Committee Report | 34 | |
| Proposal 2: | Ratification of the Appointment of Independent Registered Public Accounting Firm | 36 |
| Executive Compensation | 38 | |
| Compensation Discussion and Analysis | 38 | |
| Compensation Committee Report | 53 | |
| Summary Compensation Table | 54 | |
| Grants of Plan-Based Awards During 2025 | 56 | |
| Employment Agreements and Change in Control Agreements | 57 | |
| Outstanding Equity Awards at Fiscal 2025 Year-End | 59 | |
| Option Exercises and Stock Vested During 2025 | 60 | |
| Pension Benefits for 2025 | 61 | |
| CEO Pay Ratio | 65 | |
| Potential Payments Upon Termination or Change in Control | 66 | |
| Pay Versus Performance | 71 | |
| Equity Compensation Plan Information | 77 | |
| Proposal 3: | Advisory Vote to Approve Named Executive Officer Compensation | 80 |
| Proposal 4: | Approval of the Sonic Automotive, Inc. 2026 Equity Incentive Plan | 82 |
| Proposal 5: | Approval of the Amendment and Restatement of the Sonic Automotive, Inc. 2012 Formula Restricted Stock and Deferral Plan for Non-Employee Directors | 95 |
| Additional Corporate Governance and Other Information | 103 | |
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PROXY STATEMENT
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.