Edgar Filing: Strickland Sharon T

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

Strickland Sharon T

2. Issuer Name and Ticker or Trading Symbol
SONIC CORP [SONC]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
Vice President

(Last)

(First)

(Middle)

300 JOHNNY BENCH DRIVE

3. Date of Earliest Transaction (Month/Day/Year)
04/29/2010

(Street)

OKLAHOMA CITY, OK 73104

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Non-qualified Stock Option (right to buy)

$ 23.08

04/29/2010

D⁽¹⁾

4,185

04/06/2009

04/06/2013

Common Stock

4,185

$ 0

Non-qualified Stock Option (right to buy)

$ 13.2

04/29/2010

A⁽¹⁾

1,992

04/29/2011

04/06/2013

Common Stock

1,992

$ 0

1,992

Non-qualified Stock Option (right to buy)

$ 22.54

04/29/2010

D⁽¹⁾

5,009

04/05/2010

04/05/2014

Common Stock

5,009

$ 0

Non-qualified Stock Option (right to buy)

$ 13.2

04/29/2010

A⁽¹⁾

2,385

04/29/2011

04/05/2014

Common Stock

2,385

$ 0

2,385

Incentive Stock Option (right to buy)

$ 21.07

04/29/2010

⁽¹⁾

D⁽¹⁾

9,309

08/17/2008

08/17/2015

Common Stock

9,309

$ 0

Non-qualified Stock Option (right to buy)

$ 13.2

04/29/2010

A⁽¹⁾

5,475

04/29/2011

08/17/2015

Common Stock

5,475

$ 0

5,475

Non-qualified Stock Option (right to buy)

$ 22.24

04/29/2010

D⁽¹⁾

9,927

⁽²⁾

01/10/2015

Common Stock

9,927

$ 0

Incentive Stock Option (right to buy)

$ 22.24

04/29/2010

D⁽¹⁾

13,488

⁽²⁾

01/10/2015

Common Stock

13,488

$ 0

Non-qualified Stock Option (right to buy)

$ 13.2

04/29/2010

A⁽¹⁾

12,007

⁽³⁾

01/10/2015

Common Stock

12,007

$ 0

12,007

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Strickland Sharon T 300 JOHNNY BENCH DRIVE OKLAHOMA CITY, OK 73104			Vice President

Signatures

Carolyn C. Cummins for Sharon T. Strickiland		05/11/2010
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	On April 29, 2010, the issuer canceled, pursuant to the issuer's voluntary stock option exchange program, options previously granted to the reporting person. In exchange for the options canceled, the reporting person received a fewer number of options to purchase common stock.
(2)	One-third of the total number of options granted vest on each of the first three anniversary dates following the grant date.
(3)	Two-thirds of the options granted will vest on April 29, 2011, and one-third of the options granted will vest on January 10, 2012.

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