Exhibit 1

Transactions in Shares in the Past Sixty Days

Nature of the Transaction

Securities

Purchased/(Sold)

Price Per

Share($)

Date of

Purchase / Sale

THE LION FUND, L.P.

Purchase of Class A Common Stock¹	197	1,049.29	11/18/2024
Purchase of Class A Common Stock²	151	1,045.10	11/19/2024
Purchase of Class A Common Stock	1	1,030.00	11/20/2024
Purchase of Class A Common Stock³	130	1,030.10	11/26/2024
Purchase of Class A Common Stock⁴	327	1,068.21	11/27/2024
Purchase of Class A Common Stock⁵	144	1,078.01	12/02/2024
Purchase of Class A Common Stock⁶	274	1,108.95	12/03/2024
Purchase of Class A Common Stock⁷	277	1,174.06	12/12/2024
Purchase of Class A Common Stock	17	1,160.00	12/13/2024
Purchase of Class A Common Stock⁸	114	1,186.32	12/16/2024
Purchase of Class A Common Stock⁹	682	1,250.34	12/17/2024

¹The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1,025.00 to $1,060.00 per share. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

²The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1,035.00 to $1,050.00 per share. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

³The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1,010.00 to $1,043.00 per share. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

⁴The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1,045.80 to $1,075.00 per share. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

⁵The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1,074.00 to $1,085.00 per share. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

⁶The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1,088.90 to $1,125.00 per share. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

⁷The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1,169.80 to $1,175.00 per share. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

⁸The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1,154.45 to $1,200.00 per share. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

⁹The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1,220.00 to $1,300.00 per share. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

Biglari Holdings Inc. SCHEDULE 13D/A