Sonic Automotive, Inc. 2026 Equity Incentive Plan Approved

Sonic Automotive, Inc. announced that its stockholders approved the 2026 Equity Incentive Plan at the 2026 annual meeting held on April 29, 2026. This new plan replaces the 2012 Stock Incentive Plan, and no further awards will be granted under the previous plan, though existing awards will remain valid. The 2026 plan reserves 2,318,148 shares of Class A Common Stock for issuance. The plan allows for various award types, including stock options, stock appreciation rights, restricted stock, and restricted stock units, for employees and consultants. The plan will terminate on February 10, 2036, unless terminated earlier. The company also reported the election of directors, ratification of independent auditors, advisory approval of executive compensation, and approval of an amendment to the 2012 Formula Restricted Stock and Deferral Plan for Non-Employee Directors.