Habib Lori Abou, Sonic Corp.'s Vice President and CMO, has just filed an initial statement of beneficial ownership where 1,871 shares of Sonic Corp. were declared. This form is usually filed as a prelude to receiving options or buying company shares, so there may be more to come from Abou. Abou operates out of Oklahoma City, OK. Some additional info was provided as follows:
The total number of shares beneficially owned directly includes 799 shares held in the 1991 Sonic Corp. Stock Purchase Plan as of August 8, 2017.
Shares held in the Sonic Corp. 401(k) as of August 8, 2017.
One-third of the total number of options granted per grant date will vest on each of the first three anniversary dates following the grant date.
The Shares will vest on February 15, 2020 in acco
rdance with the terms of the Restricted Stock Units granted February 15, 2017, and will be issued in shares of Sonic Corp. common stock on a one-for-one basis, subject to certain restrictions.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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Other recent filings from the company include the following: