Biglari Holdings Inc.
For the period ended Apr 8, 2026. Filed Mar 11, 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.
Apr 8, 2026 · Filed Mar 11, 2026
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Contents
Pay Versus Performance
The following table sets forth information concerning the compensation of our named executive officers for the three years ended December 31, 2025, and our financial performance for each such year.
| Year | Summary Compensation Table Total for PEO(1) | Compensation Actually Paid to PEO(1) | Average Summary Compensation Table Total for Non-PEO NEOs(2) | Average Compensation Actually Paid to Non-PEO NEOs(2) | Value of Initial Fixed $100 Investment Based on Total Shareholder Return | Net Income (Loss) | Net Income (Loss) Excluding Partnerships(3) |
|---|---|---|---|---|---|---|---|
| 2025 | $900,000 | $900,000 | $1,300,000 | $1,300,000 | $244.01 | $(37,488,000) | $14,508,000 |
| 2024 | 1,354,596 | 1,354,596 | 1,080,000 | 1,080,000 | 183.95 | (3,759,000) | 24,360,000 |
| 2023 | 8,171,055 | 8,171,055 | 1,000,000 | 1,000,000 | 117.72 | 54,948,000 | 40,302,000 |
(1)The principal executive officer (“PEO”) listed in the table is Sardar Biglari, Chairman and Chief Executive Officer.
(2) The Non-PEO named executive officer (“NEO”) listed is Bruce Lewis, Controller.
(3)Compensation is primarily linked tonet income excluding partnerships.
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