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- -------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION -----------------------------
FORM 4 WASHINGTON, D.C. 20549 OMB APPROVAL
- -------- -----------------------------
/ / CHECK THIS BOX IF NO STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OMB NUMBER: 3235-0287
LONGER SUBJECT TO EXPIRES: SEPTEMBER 30, 1998
SECTION 16. FORM 4 OR Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, ESTIMATED AVERAGE BURDEN
FORM 5 OBLIGATIONS MAY Section 17(a) of the Public Utility Holding Company Act of 1935 or HOURS PER RESPONSE .... 0.5
CONTINUE. SEE Section 30(f) of the Investment Company Act of 1940 -----------------------------
INSTRUCTION 1(b).
(Print or Type Responses)
- ------------------------------------------------------------------------------------------------------------------------------------
<S><C>
1. Name and Address of Reporting Person* 2. Issuer Name AND Ticker or Trading Symbol 6. Relationship of Reporting Person(s)
to Issuer (Check all applicable)
Hudson, James Clifford SONIC CORP. SONC XX Director 10% Owner
---- ----
- --------------------------------------------------------------------------------------------- XX Officer (give Other
(Last) (First) (Middle) 3. IRS or Social Security 4. Statement for ---- title ---- (specify
Number of Reporting Month/Year below) below
Person (Voluntary) President and Chief Executive Officer
101 Park Avenue 6/98 --------------------------------------
- -------------------------------------------- --------------------- 7. Individual or Joint/Group Filing
(Street) 5. If Amendment, (Check Applicable Line)
Date of Original ---Form filed by One Reporting Person
(Month/Year) ---Form filed by More than One
Oklahoma City, Oklahoma 73102 Reporting Person
- ------------------------------------------------------------------------------------------------------------------------------------
(City) (State) (Zip) TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
- ------------------------------------------------------------------------------------------------------------------------------------
1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
(Instr. 3) action action or Disposed of (D) Securities ship of In-
Date Code (Instr. 3, 4 and 5) Beneficially Form: direct
(Instr. 8) Owned at Direct Bene-
(Month/ End of (D) or ficial
Day/ ------------------------------------------- Month Indirect Owner-
Year) (A) or (I) ship
Code V Amount (D) Price (Instr. 3 (Instr. 4) (Instr. 4)
and 4)
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock Previously Reported N/A N/A N/A 196,800 I Note 2
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 6-24-98 J 47,338 D $22.9425 199,154 I Note 3
Note 7
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock Previously Reported N/A N/A N/A 16,440 I Note 4
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 6-29-98 S 5,000 D I Note 5
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock 6-30-98 S 50,000 D 500 I Note 5
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock Previously Reported N/A N/A N/A 9,000 D
See Note 6
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
* If the form is filed by more than one reporting person, SEE Instruction 4(b)(v). SEC 1474 (7-97)
POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION
CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM
DISPLAYS A CURRENTLY VALID OMB CONTROL NUMBER.
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<CAPTION>
FORM 4 (CONTINUED) TABLE II - DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
- ------------------------------------------------------------------------------------------------------------------------
1. Title of Derivative Security 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv- 6. Date Exer-
(Instr. 3) sion or action tion Code ative Securities Ac- cisable and Ex-
Exercise Date (Instr. 8) quired (A) or Dis- piration Date
Price of (Month/ posed of (D) (Month/Day/
Deriv- Day/ (Instr. 3, 4, and 5) Year)
ative Year)
Security
--------------------
Date Expira-
-------------------------------------- Exer- tion
cisable Date
Code V (A) (D)
<S><C>
- ------------------------------------------------------------------------------------------------------------------------
Right to Buy Common Stock. $10.00 Previously Reported 05/17/92 5/17/
See Note 1 per share 2001
- ------------------------------------------------------------------------------------------------------------------------
Right to Buy Common Stock. $10.00 Previously Reported 05/17/93 5/17/
See Note 1 per share 2001
- ------------------------------------------------------------------------------------------------------------------------
Right to Buy Common Stock. $10.00 Previously Reported 05/17/94 5/17/
See Note 1 per share 2001
- ------------------------------------------------------------------------------------------------------------------------
Right to Buy Common Stock. $12.8867 Previously Reported 04/16/93 4/16/
See Note 1 per share 2002
- ------------------------------------------------------------------------------------------------------------------------
Right to Buy Common Stock. $12.8867 Previously Reported 04/16/94 4/16/
See Note 1 per share 2002
- ------------------------------------------------------------------------------------------------------------------------
Right to Buy Common Stock. $12.8867 Previously Reported 04/16/95 4/16/
See Note 1 per share 2002
- ------------------------------------------------------------------------------------------------------------------------
Right to Buy Common Stock. $9.22 Previously Reported 04/22/94 4/22/
See Note 1 per share 2003
- ------------------------------------------------------------------------------------------------------------------------
Right to Buy Common Stock. $9.22 Previously Reported 04/22/95 4/22/
See Note 1 per share 2003
- ------------------------------------------------------------------------------------------------------------------------
Right to Buy Common Stock. $9.22 Previously Reported 04/22/96 4/22/
See Note 1 per share 2003
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- ------------------------------------------------------------------------------------------
7. Title and Amount of Under- 8. Price 9. Number 10. Owner- 11. Nature
lying Securities of of Deriv- ship of In-
(Instr. 3 and 4) Deriv- ative Form direct
ative Securi- of De- Bene-
Secur- ties rivative ficial
ity Bene- Secu- Own-
(Instr. ficially rity: ership
5) Owned Direct (Instr. 4)
at End (D) or
Amount or of Indi-
Title Number of Month rect (I)
Shares (Instr. 4) (Instr. 4)
<S><C>
- ------------------------------------------------------------------------------------------
Common Stock 7,056 -0- 7,056 D N/A
- ------------------------------------------------------------------------------------------
Common Stock 7,056 -0- 7,056 D N/A
- ------------------------------------------------------------------------------------------
Common Stock 7,056 -0- 7,056 D N/A
- ------------------------------------------------------------------------------------------
Common Stock 4,444 -0- 4,444 D N/A
- ------------------------------------------------------------------------------------------
Common Stock 4,445 -0- 4,445 D N/A
- ------------------------------------------------------------------------------------------
Common Stock 4,445 -0- 4,445 D N/A
- ------------------------------------------------------------------------------------------
Common Stock 8,711 -0- 8,711 D N/A
- ------------------------------------------------------------------------------------------
Common Stock 8,713 -0- 8,713 D N/A
- ------------------------------------------------------------------------------------------
Common Stock 8,711 -0- 8,711 D N/A
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
Explanation of Responses:
J. Private exchange of securities.
1. Stock options granted pursuant to the 1991 Sonic Corp. Stock Option Plan.
2. By spouse as trustee of trust for spouse; Mr. Hudson disclaims all beneficial ownership.
3. By self as trustee of trust for self.
4. Held in trusts for Mr. Hudson's minor children; Mr. Hudson disclaims all beneficial ownership.
5. Held jointly by self and spouse as trustees of charitable remainder unitrust.
6. Pursuant to the terms of the Sonic Corp. 1995 Stock Incentive Plan, and an Awards Agreement
between the issuer and the reporting person, such shares are subject to not vesting in the
event certain net income and revenue performance criteria for the issuer are not achieved.
7. Estimated value of securities as received by the reporting person in a private exchange of
securities.
Page 2
SEC 1474 (7-97)
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<CAPTION>
FORM 4 (CONTINUED) TABLE II - DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
- ------------------------------------------------------------------------------------------------------------------------
1. Title of Derivative Security 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv- 6. Date Exer-
(Instr. 3) sion or action tion Code ative Securities Ac- cisable and Ex-
Exercise Date (Instr. 8) quired (A) or Dis- piration Date
Price of (Month/ posed of (D) (Month/Day/
Deriv- Day/ (Instr. 3, 4, and 5) Year)
ative Year)
Security
--------------------
Date Expira-
-------------------------------------- Exer- tion
cisable Date
Code V (A) (D)
<S><C>
- ------------------------------------------------------------------------------------------------------------------------
Right to Buy Common Stock. $12.4467 Previously Reported 08/25/94 8/25/
See Note 1 per share 2003
- ------------------------------------------------------------------------------------------------------------------------
Right to Buy Common Stock. $12.4467 Previously Reported 08/25/95 8/25/
See Note 1 per share 2003
- ------------------------------------------------------------------------------------------------------------------------
Right to Buy Common Stock. $12.4467 Previously Reported 08/25/96 8/25/
See Note 1 per share 2003
- ------------------------------------------------------------------------------------------------------------------------
Right to Buy Common Stock. $9.78 Previously Reported 04/12/95 4/12/
See Note 1 per share 2004
- ------------------------------------------------------------------------------------------------------------------------
Right to Buy Common Stock. $9.78 Previously Reported 04/12/96 4/12/
See Note 1 per share 2004
- ------------------------------------------------------------------------------------------------------------------------
Right to Buy Common Stock. $9.78 Previously Reported 04/12/97 4/12/
See Note 1 per share 2004
- ------------------------------------------------------------------------------------------------------------------------
Right to Buy Common Stock. $11.5533 Previously Reported 04/11/96 4/11/
See Note 1 per share 2005
- ------------------------------------------------------------------------------------------------------------------------
Right to Buy Common Stock. $11.5533 Previously Reported 04/11/97 4/11/
See Note 1 per share 2005
- ------------------------------------------------------------------------------------------------------------------------
Right to Buy Common Stock. $11.5533 Previously Reported 04/11/98 4/11/
See Note 1 per share 2005
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- ------------------------------------------------------------------------------------------
7. Title and Amount of Under- 8. Price 9. Number 10. Owner- 11. Nature
lying Securities of of Deriv- ship of In-
(Instr. 3 and 4) Deriv- ative Form direct
ative Securi- of De- Bene-
Secur- ties rivative ficial
ity Bene- Secu- Own-
(Instr. ficially rity: ership
5) Owned Direct (Instr. 4)
at End (D) or
Amount or of Indi-
Title Number of Month rect (I)
Shares (Instr. 4) (Instr. 4)
<S><C>
- ------------------------------------------------------------------------------------------
Common Stock 15,000 -0- 15,000 D N/A
- ------------------------------------------------------------------------------------------
Common Stock 15,000 -0- 15,000 D N/A
- ------------------------------------------------------------------------------------------
Common Stock 15,001 -0- 15,001 D N/A
- ------------------------------------------------------------------------------------------
Common Stock 6,214 -0- 6,214 D N/A
- ------------------------------------------------------------------------------------------
Common Stock 6,213 -0- 6,213 D N/A
- ------------------------------------------------------------------------------------------
Common Stock 18,640 -0- 18,640 D N/A
- ------------------------------------------------------------------------------------------
Common Stock 7,573 -0- 7,573 D N/A
- ------------------------------------------------------------------------------------------
Common Stock 7,574 -0- 7,574 D N/A
- ------------------------------------------------------------------------------------------
Common Stock 7,572 -0- 7,572 D N/A
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
Explanation of Responses:
J. Private exchange of securities.
1. Stock options granted pursuant to the 1991 Sonic Corp. Stock Option Plan.
2. By spouse as trustee of trust for spouse; Mr. Hudson disclaims all beneficial ownership.
3. By self as trustee of trust for self.
4. Held in trusts for Mr. Hudson's minor children; Mr. Hudson disclaims all beneficial ownership.
5. Held jointly by self and spouse as trustees of charitable remainder unitrust.
6. Pursuant to the terms of the Sonic Corp. 1995 Stock Incentive Plan, and an Awards Agreement
between the issuer and the reporting person, such shares are subject to not vesting in the
event certain net income and revenue performance criteria for the issuer are not achieved.
7. Estimated value of securities as received by the reporting person in a private exchange of
securities.
Page 3
SEC 1474 (7-97)
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<CAPTION>
FORM 4 (CONTINUED) TABLE II - DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
- ------------------------------------------------------------------------------------------------------------------------
1. Title of Derivative Security 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv- 6. Date Exer-
(Instr. 3) sion or action tion Code ative Securities Ac- cisable and Ex-
Exercise Date (Instr. 8) quired (A) or Dis- piration Date
Price of (Month/ posed of (D) (Month/Day/
Deriv- Day/ (Instr. 3, 4, and 5) Year)
ative Year)
Security
--------------------
Date Expira-
-------------------------------------- Exer- tion
cisable Date
Code V (A) (D)
<S><C>
- ------------------------------------------------------------------------------------------------------------------------
Right to Buy Common Stock. $12.8333 Previously Reported 4/30/97 4/30/
See Note 1 per share 2006
- ------------------------------------------------------------------------------------------------------------------------
Right to Buy Common Stock. $12.8333 Previously Reported 4/30/98 4/30/
See Note 1 per share 2006
- ------------------------------------------------------------------------------------------------------------------------
Right to Buy Common Stock. $12.8333 Previously Reported 4/30/99 4/30/
See Note 1 per share 2006
- ------------------------------------------------------------------------------------------------------------------------
Right to Buy Common Stock. $12.00 Previously Reported 5/9/98 5/9/
See Note 1 per share 2007
- ------------------------------------------------------------------------------------------------------------------------
Right to Buy Common Stock. $12.00 Previously Reported 5/9/99 5/9/
See Note 1 per share 2007
- ------------------------------------------------------------------------------------------------------------------------
Right to Buy Common Stock. $12.00 Previously Reported 5/9/ 5/9/
See Note 1 per share 2000 2007
- ------------------------------------------------------------------------------------------------------------------------
Right to Buy Common Stock. $21.50 Previously Reported 4/30/99 4/30/
See Note 1 per share 2008
- ------------------------------------------------------------------------------------------------------------------------
Right to Buy Common Stock. $21.50 Previously Reported 4/30/ 4/30/
See Note 1 per share 2000 2008
- ------------------------------------------------------------------------------------------------------------------------
Right to Buy Common Stock. $21.50 Previously Reported 4/30/ 4/30/
See Note 1 per share 2001 2008
- ------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- ------------------------------------------------------------------------------------------
7. Title and Amount of Under- 8. Price 9. Number 10. Owner- 11. Nature
lying Securities of of Deriv- ship of In-
(Instr. 3 and 4) Deriv- ative Form direct
ative Securi- of De- Bene-
Secur- ties rivative ficial
ity Bene- Secu- Own-
(Instr. ficially rity: ership
5) Owned Direct (Instr. 4)
at End (D) or
Amount or of Indi-
Title Number of Month rect (I)
Shares (Instr. 4) (Instr. 4)
<S><C>
- ------------------------------------------------------------------------------------------
Common Stock 16,827 -0- 16,827 D N/A
- ------------------------------------------------------------------------------------------
Common Stock 16,827 -0- 16,827 D N/A
- ------------------------------------------------------------------------------------------
Common Stock 16,827 -0- 16,827 D N/A
- ------------------------------------------------------------------------------------------
Common Stock 11,458 -0- 11,458 D N/A
- ------------------------------------------------------------------------------------------
Common Stock 11,458 -0- 11,458 D N/A
- ------------------------------------------------------------------------------------------
Common Stock 11,460 -0- 11,460 D N/A
- ------------------------------------------------------------------------------------------
Common Stock 7,558 -0- 7,558 D N/A
- ------------------------------------------------------------------------------------------
Common Stock 7,558 -0- 7,558 D N/A
- ------------------------------------------------------------------------------------------
Common Stock 7,559 -0- 7,559 D N/A
- ------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------
Explanation of Responses:
J. Private exchange of securities.
1. Stock options granted pursuant to the 1991 Sonic Corp. Stock Option Plan.
2. By spouse as trustee of trust for spouse; Mr. Hudson disclaims all beneficial ownership.
3. By self as trustee of trust for self.
4. Held in trusts for Mr. Hudson's minor children; Mr. Hudson disclaims all beneficial ownership.
5. Held jointly by self and spouse as trustees of charitable remainder unitrust.
6. Pursuant to the terms of the Sonic Corp. 1995 Stock Incentive Plan, and an Awards Agreement
between the issuer and the reporting person, such shares are subject to not vesting in the
event certain net income and revenue performance criteria for the issuer are not achieved.
7. Estimated value of securities as received by the reporting person in a private exchange of
securities.
----------------------------------- -----------
**Intentional misstatements or omissions of facts constitute **Signature of Reporting Person Date
Federal Criminal Violations. SEE 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, SEE Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
Page 4
SEC 1474 (7-97)
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