Sonic Corp. - Board of Directors

J. Clifford Hudson
Chairman of the Board and Chief Executive Officer, Sonic Corp.

Clifford Hudson has spent the last 27 years of his career at Sonic Corp, an Oklahoma City-based, publicly-held company that owns, operates and franchises SONIC Drive-In restaurants (NASDAQ: SONC). Today, he is chairman of the board and chief executive officer of this public company with 3,500 franchised and company-operated drive-in restaurants. SONIC's common stock is included in the S&P MidCap 600 Index.

Hudson was named chairman of Sonic Corp in January 2000. Previously, Hudson was chief executive officer (CEO) and president of Sonic Corp., positions he held since April 1995. Prior to that time, he served the company in a variety of capacities, including general counsel, chief financial officer and chief operating officer.

During Hudson's tenure as CEO of SONIC, average drive-in , average drive-in sales have increased by 65% and system-wide sales from $880 million to $3.5 billion. The company's enterprise value (the public value of its common stock plus debt) has grown from approximately $200 million to more than $1.0 billion.

In his position, Hudson has earned achievements as the 2004 Silver Plate – Foodservice Operator of the Year Award from International Foodservice Manufacturers Association and 2000 Multi-Unit Foodservice Operators (MUFSO) Golden Chain Award from Nation's Restaurant News. Most recently, SONIC has also received national recognition from publications such as Forbes, Entrepreneur, QSR and Restaurants & Institutions magazines. He has been a guest on various national business programs including CNBC's Mad Money, Squawkbox and Power Lunch, as well as various Bloomberg news programs.

Hudson has been affiliated with many nonprofit and community activities. He served as chairman of the board of directors of the Securities Investor Protection Corporation (SIPC), a presidential appointment, from 1994 - 2001. He recently served as Chairman of the Oklahoma City School Board from 2001-2008, a position created in 2000 as part of a $530 million turn around of a 40,000 student, inner-city Oklahoma City Public School system. He currently serves as trustee of the Ford Foundation (New York) and is the the immediate past Chairman of the Board of the National Trust for Historic Preservation.

Through his education work, Hudson has been involved with art and music programs, including leading a SONIC-sponsored music group, The SONIC Tones. In addition to performing with the Oklahoma City symphony in 2003, The SONIC Tones performed at the Rock and Roll Hall of Fame in Cleveland, Ohio through the Fortune magazine-sponsored "Battle of Corporate Bands".

Hudson graduated from the University of Oklahoma, which he attended with Phi Beta Kappa and President's Leadership scholarships. In 1998, Hudson was honored as a distinguished alumnus of the University of Oklahoma College of Arts and Sciences, where he serves as a member of the College of Arts and Sciences Board of Visitors. In 2001, he received the University's Regents Award from its board of regents and in 2011 received an honorary doctoral degree in humane letters from the University.

Hudson graduated from the Georgetown University Law Center, where he was a member of the legal honor society, Phi Delta Phi. In 1979, he served as an editor of the International Law Journal, a publication of the Association of Student International Law Societies. He also serves as Chairman of the Board of Visitors of Georgetown University Law Center and in 2006 was given the Paul Dean Award for service to the school.
He and his wife, Leslie, an epidemiologist, have two sons and live in Oklahoma City.

Holdings: 538,288 shares View Transactions
Date	Type	Shares Traded	Price Range
Jan 14, 2012	Disposition (Non Open Market)	4,294	6.71
Jan 14, 2012	Option Execute	11,880	n/a
Oct 25, 2011	Acquisition (Non Open Market)	122,393	6.89
Mar 18, 2011	Disposition (Non Open Market)	83,181	8.86
Mar 18, 2011	Option Execute	94,845	7.36
Jan 14, 2011	Disposition (Non Open Market)	4,294	10.57
Jan 14, 2011	Option Execute	11,880	n/a
Dec 7, 2010	Disposition (Non Open Market)	6,900	n/a
Nov 11, 2010	Disposition (Non Open Market)	1,608	n/a
Oct 20, 2010	Disposition (Non Open Market)	2,760	n/a
Sep 13, 2010	Disposition (Non Open Market)	17,448	n/a
Apr 20, 2010	Sell	66,700	12.25
Apr 20, 2010	Option Execute	108,489	5.71
Aug 5, 2009	Disposition (Non Open Market)	60,000	n/a
Apr 28, 2009	Disposition (Non Open Market)	41,000	n/a
Mar 26, 2009	Disposition (Non Open Market)	5,200	n/a
Mar 3, 2009	Disposition (Non Open Market)	66,397	8.03
Mar 3, 2009	Option Execute	93,050	5.73
Dec 18, 2008	Disposition (Non Open Market)	11,000	n/a
Mar 7, 2008	Disposition (Non Open Market)	24,272	20.10
Mar 7, 2008	Option Execute	114,797	4.25
Feb 29, 2008	Disposition (Non Open Market)	500	21.33
Oct 26, 2007	Sell	183,636	25.00
Oct 25, 2007	Sell	93,700	25.00
Oct 24, 2007	Sell	1,500	25.00
Oct 17, 2007	Disposition (Non Open Market)	30,000	n/a
Jan 5, 2007	Disposition (Non Open Market)	61,543	22.29
Jan 5, 2007	Option Execute	174,034	2.37
Dec 28, 2006	Disposition (Non Open Market)	4,200	24.34
Oct 2, 2006	Disposition (Non Open Market)	11,500	22.65
Jul 6, 2006	Disposition (Non Open Market)	400	20.84
Jan 6, 2006	Disposition (Non Open Market)	22,796	28.40
Jan 6, 2006	Option Execute	170,376	3.80

Douglas N. Benham
President and Chief Executive Officer of DNB Advisors, LLC

Kate S. Lavelle
Former Executive Vice President and Chief Financial Officer of Dunkin' Brands, Inc.

Michael J. Maples
Former Executive Vice President and Member of the Office of the President
Microsoft Corporation

Holdings: 14,686 shares View Transactions
Date	Type	Shares Traded	Price Range
Jan 15, 2012	Option Execute	1,378	n/a
Jan 14, 2012	Option Execute	1,643	n/a
Jan 6, 2012	Option Execute	1,266	n/a
Jan 18, 2011	Option Execute	1,378	n/a
Jan 14, 2011	Option Execute	1,643	n/a
Jan 15, 2010	Option Execute	1,378	n/a
Nov 15, 2005	Buy	4,000	28.52

J. Larry Nichols
Executive Chairman of the Board
Devon Energy Corporation

Federico F. Peña
Senior Advisor
Vestar Capital Partners

H.E. Rainbolt
Chairman
BancFirst

Frank E. Richardson
Chairman
F.E. Richardson & Co., Inc.

Holdings: 1,871,195 shares View Transactions
Date	Type	Shares Traded	Price Range
Jan 15, 2012	Option Execute	1,378	n/a
Jan 14, 2012	Option Execute	1,643	n/a
Jan 6, 2012	Option Execute	1,266	n/a
Jan 18, 2011	Option Execute	1,378	n/a
Jan 14, 2011	Option Execute	1,643	n/a
Jan 13, 2011	Option Execute	10,125	7.13
Jan 15, 2010	Option Execute	1,378	n/a
Jan 11, 2010	Option Execute	10,125	6.27
Jan 14, 2009	Sell	29,920	9.98
Jan 14, 2009	Option Execute	60,750	4.87
Apr 7, 2008	Sell	175,000	22.06 - 22.31
Oct 30, 2007	Disposition (Non Open Market)	4,500	24.42
Nov 1, 2005	Sell	50,000	28.56 - 28.76

Robert M. Rosenberg
Retired President and Chief Executive Officer
Allied-Domecq Retailing U.S.A.

Holdings: 123,216 shares View Transactions
Date	Type	Shares Traded	Price Range
Jan 15, 2012	Option Execute	1,378	n/a
Jan 14, 2012	Option Execute	1,643	n/a
Jan 6, 2012	Option Execute	1,266	n/a
Jan 18, 2011	Option Execute	1,378	n/a
Jan 14, 2011	Option Execute	1,643	n/a
Jan 15, 2010	Option Execute	1,378	n/a
Dec 18, 2008	Sell	27,555	12.04
May 4, 2007	Disposition (Non Open Market)	2,500	23.04
Mar 13, 2007	Disposition (Non Open Market)	10,695	20.88
Mar 13, 2007	Option Execute	38,250	4.87 - 7.13
Dec 18, 2006	Disposition (Non Open Market)	2,250	23.81
Dec 28, 2005	Disposition (Non Open Market)	1,500	29.75
Sep 29, 2005	Disposition (Non Open Market)	3,980	27.55
Sep 29, 2005	Option Execute	15,000	7.31
Aug 25, 2005	Sell	645	31.06

Jeffrey H. Schutz
Managing Director
Centennial Ventures

Kathryn L Taylor
Attorney, McAfee & Taft
Former Mayor, City of Tulsa, Oklahoma
Former Chief of Education Strategy and Innovation, State of Oklahoma