Form 4: Cracker Barrel 10% Owner Sells 42,400 Shares

A group of 10% owners, including GMT Capital Corp. and Thomas E. Claugus, sold 42,400 shares of Cracker Barrel Old Country Store, Inc. common stock for $26.03 per share.

Summary

• GMT Capital Corp., along with affiliated entities Bay Resource Partners, L.P., Bay II Resource Partners, L.P., Bay Resource Partners Offshore Master Fund, L.P., and Thomas E. Claugus, collectively 10% owners and directors of Cracker Barrel Old Country Store, Inc. (CBRL), reported a sale of common stock.
• On December 23, 2025, the reporting persons disposed of an aggregate of 42,400 shares of CBRL common stock.
• The shares were sold at a price of $26.03 per share.
• Following this transaction, the reporting persons beneficially own a total of 2,282,600 shares of Cracker Barrel Old Country Store, Inc. common stock.
• The individual breakdown of shares sold and remaining ownership is: Bay Resource Partners, L.P. sold 11,900 shares, now owning 644,200 shares; Bay II Resource Partners, L.P. sold 7,800 shares, now owning 417,900 shares; Bay Resource Partners Offshore Master Fund, L.P. sold 20,300 shares, now owning 1,092,900 shares; and Thomas E. Claugus sold 2,400 shares, now owning 127,600 shares.

Sentiment

Score: 3

Explanation: The sentiment is moderately negative due to a significant insider sale by a 10% owner and director group, which can signal a lack of confidence or a belief that the stock is overvalued.

Negatives

• A significant sale of 42,400 shares by a 10% owner and director group could be interpreted by the market as a signal of reduced confidence in the company's future prospects or current valuation by a major shareholder.

Future Outlook

NA

Industry Context

This insider selling event by a significant shareholder of Cracker Barrel Old Country Store, Inc. occurs within the broader restaurant and retail industry. While a single transaction, it may be viewed by investors as a data point regarding the sentiment of a major stakeholder towards the company's performance or valuation relative to its peers and market conditions.

Stakeholder Impact

• Shareholders may react negatively to the news of a significant insider sale, potentially leading to a decrease in share price due to concerns about insider confidence.
• Potential investors might view this transaction as a cautionary signal, influencing their investment decisions regarding Cracker Barrel Old Country Store, Inc.

Key Dates

Recommendation

While a significant insider sale by a 10% owner is a negative signal, it represents a partial divestment rather than a complete exit. Investors should monitor future insider activity and broader company performance, but this single transaction warrants a 'hold' rather than an immediate 'sell' unless other fundamental weaknesses are identified.

Keywords

Cracker Barrel, CBRL, Insider Sale, Form 4, GMT Capital, Thomas E. Claugus, Stock Transaction, 10% Owner