HUDSON J CLIFFORD (Chief Executive Officer) exercised options at SONIC CORP

Option exercise — a mechanical event triggered by vesting or expiry. Not a discretionary conviction trade.

M · 6 exercises

HUDSON J CLIFFORD

Filed: 6/13/2018ACC: 0001140361-18-028408

InsiderHUDSON J CLIFFORDCIK 1065239

→

IssuerSONIC CORPCIK 868611

DirectorOfficer· Chief Executive Officer

Since Oct 2018

-357.05K

Net shares

Net seller

$11.70M

Total sold

Open market trades

0B · 0S

Total transactions

463.37K acquired · 820.43K disposed

Non-Derivative Transactions8

Common Stock

Indirect

G · Gift

−790.00

Price / share

—

Trade value

—

% of position

0.7%

6/11/2018

114.38K→113.59K

Common stock

Indirect

M · Option Exercise

+14.71K

Price / share

$6.80

Trade value

$99.99K

% of position

6.3%

6/11/2018

232.32K→247.02K

Common stock

Indirect

M · Option Exercise

+146.64K

Price / share

$11.07

Trade value

$1.62M

% of position

59.4%

6/11/2018

247.02K→393.66K

Common stock

Indirect

M · Option Exercise

+103.54K

Price / share

$20.58

Trade value

$2.13M

% of position

26.3%

6/11/2018

393.66K→497.20K

Common stock

Indirect

M · Option Exercise

+86.59K

Price / share

$31.29

Trade value

$2.71M

% of position

17.4%

6/11/2018

497.20K→583.80K

Common stock

Indirect

M · Option Exercise

+68.56K

Price / share

$29.37

Trade value

$2.01M

% of position

11.7%

6/11/2018

583.80K→652.36K

Common stock

Indirect

M · Option Exercise

+43.34K

Price / share

$25.40

Trade value

$1.10M

% of position

6.6%

6/11/2018

652.36K→695.69K

Common stock

Indirect

F · Tax Withholding

−356.26K

Price / share

$32.84

Trade value

$11.70M

% of position

51.2%

6/11/2018

695.69K→339.43K

Total

Net shares

+106.32K

Net value

-$2.02M

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Stock Indirect	6/11/2018	G · Gift	−790.00	—	—	0.7%	114.38K	113.59K
Common stock Indirect	6/11/2018	M · Option Exercise	+14.71K	$6.80	$99.99K	6.3%	232.32K	247.02K
Common stock Indirect	6/11/2018	M · Option Exercise	+146.64K	$11.07	$1.62M	59.4%	247.02K	393.66K
Common stock Indirect	6/11/2018	M · Option Exercise	+103.54K	$20.58	$2.13M	26.3%	393.66K	497.20K
Common stock Indirect	6/11/2018	M · Option Exercise	+86.59K	$31.29	$2.71M	17.4%	497.20K	583.80K
Common stock Indirect	6/11/2018	M · Option Exercise	+68.56K	$29.37	$2.01M	11.7%	583.80K	652.36K
Common stock Indirect	6/11/2018	M · Option Exercise	+43.34K	$25.40	$1.10M	6.6%	652.36K	695.69K
Common stock Indirect	6/11/2018	F · Tax Withholding	−356.26K	$32.84	$11.70M	51.2%	695.69K	339.43K
Total			+106.32K		-$2.02M

Derivative Transactions10

Incentive Stock Option (right to buy)

Direct

M · Option Exercise

Converts to

common stock

14.71K shares

−14.71K

Strike price

6.80

Held after

0.00

Exercisable

—

6/11/2018

Incentive Stock Option (right to buy)

Direct

M · Option Exercise

Converts to

common stock

9.03K shares

−9.03K

Strike price

11.07

Held after

0.00

Exercisable

—

6/11/2018

Nonqualified Stock Option (right to buy)

Indirect

M · Option Exercise

Converts to

common stock

137.61K shares

−137.61K

Strike price

11.07

Held after

0.00

Exercisable

—

6/11/2018

Incentive Stock Option (right to buy)

Direct

M · Option Exercise

Converts to

common stock

4.86K shares

−4.86K

Strike price

20.58

Held after

0.00

Exercisable

—

6/11/2018

Nonqualified Stock Option (right to buy)

Indirect

M · Option Exercise

Converts to

common stock

98.68K shares

−98.68K

Strike price

20.58

Held after

0.00

Exercisable

—

6/11/2018

Incentive Stock Option (right to buy)

Direct

M · Option Exercise

Converts to

common stock

3.19K shares

−3.19K

Strike price

31.29

Held after

0.00

Exercisable

—

6/11/2018

Nonqualified Stock Option (right to buy)

Indirect

M · Option Exercise

Converts to

common stock

83.40K shares

−83.40K

Strike price

31.29

Held after

0.00

Exercisable

—

6/11/2018

Nonqualified Stock Option (right to buy)

Indirect

M · Option Exercise

Converts to

common stock

68.56K shares

−68.56K

Strike price

29.37

Held after

30.88K

Exercisable

—

6/11/2018

Incentive Stock Option (right to buy)

Direct

M · Option Exercise

Converts to

common stock

1.00 shares

−1.00

Strike price

25.40

Held after

3.94K

Exercisable

—

6/11/2018

Nonqualified Stock Option (right to buy)

Indirect

M · Option Exercise

Converts to

common stock

43.34K shares

−43.34K

Strike price

25.40

Held after

82.74K

Exercisable

—

6/11/2018

Security	Converts To	Date	Type	Shares	Strike Price	Exercisable	Held After
Incentive Stock Option (right to buy) Direct	common stock14.71K shares	6/11/2018	M · Option Exercise	−14.71K	6.80	—	0.00
Incentive Stock Option (right to buy) Direct	common stock9.03K shares	6/11/2018	M · Option Exercise	−9.03K	11.07	—	0.00
Nonqualified Stock Option (right to buy) Indirect	common stock137.61K shares	6/11/2018	M · Option Exercise	−137.61K	11.07	—	0.00
Incentive Stock Option (right to buy) Direct	common stock4.86K shares	6/11/2018	M · Option Exercise	−4.86K	20.58	—	0.00
Nonqualified Stock Option (right to buy) Indirect	common stock98.68K shares	6/11/2018	M · Option Exercise	−98.68K	20.58	—	0.00
Incentive Stock Option (right to buy) Direct	common stock3.19K shares	6/11/2018	M · Option Exercise	−3.19K	31.29	—	0.00
Nonqualified Stock Option (right to buy) Indirect	common stock83.40K shares	6/11/2018	M · Option Exercise	−83.40K	31.29	—	0.00
Nonqualified Stock Option (right to buy) Indirect	common stock68.56K shares	6/11/2018	M · Option Exercise	−68.56K	29.37	—	30.88K
Incentive Stock Option (right to buy) Direct	common stock1.00 shares	6/11/2018	M · Option Exercise	−1.00	25.40	—	3.94K
Nonqualified Stock Option (right to buy) Indirect	common stock43.34K shares	6/11/2018	M · Option Exercise	−43.34K	25.40	—	82.74K

Non-Derivative Holdings (Post-Transaction)2

Common Stock

Indirect

Shares owned55K

Common Stock

Indirect

Shares owned9.86K

Total

64.86K indirect64.86K

Security Title	Shares Owned	Ownership Type
Common Stock	55K	Indirect
Common Stock	9.86K	Indirect
Total	64.86K	64.86K indirect

Derivative Holdings (Post-Transaction)0

No derivative holdings reported