---
schema_version: "secwatch.filing_event.v1"
accession: "0001387131-23-009442"
form_type: "8-K"
ticker: "LOCO"
cik: "0001606366"
company_name: "El Pollo Loco Holdings, Inc."
filed_at: "2023-08-09T23:59:59+00:00"
generated_at: "2026-06-11T22:19:27.038842+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# El Pollo Loco adopts limited-duration rights plan after Biglari Capital accumulates 12% stake

## Summary
- Biglari Capital went from 9.1% (July 28) to 11.3% (Aug 8); plan targets 12.5% trigger.
- Rights plan expires Aug 7, 2024; Board may terminate earlier if warranted.
- If triggered, non-triggering holders can buy common shares at 50% discount or exchange each right for one share.
- Before a person triggers, Board can redeem all rights at $0.001 per right.
- Biglari Capital may retain current shares but cannot add more without diluting all other holders.

## SEC filing metadata
- accession: 0001387131-23-009442
- form_type: 8-K
- ticker: LOCO
- cik: 0001606366
- company_name: El Pollo Loco Holdings, Inc.
- filed_at: 2023-08-09T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 3.03, 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1606366/000138713123009442/0001387131-23-009442-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1606366/000138713123009442/loco-8k_080823.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001387131-23-009442
- JSON: https://secwatch.observer/filing/0001387131-23-009442.json
- Plain text: https://secwatch.observer/filing/0001387131-23-009442.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.