Form 4: Cracker Barrel Director John W. Garratt Receives Annual RSU Award

Director John W. Garratt received 2,938 restricted stock units (RSUs) as part of his annual compensation, which will vest on November 21, 2025.

Summary

• John W. Garratt, a director at Cracker Barrel Old Country Store, Inc., received 2,938 shares of common stock in the form of restricted stock units (RSUs).
• These RSUs were granted as part of his annual compensation under the company's 2020 Omnibus Incentive Compensation Plan.
• The award will vest on November 21, 2025, meaning Mr. Garratt will gain full ownership of the shares on that date.
• The transaction was reported on November 25, 2024.

Sentiment

Score: 7

Explanation: The document reflects a routine compensation practice, which is generally positive for aligning director interests with shareholders. There are no negative implications.

Positives

• The grant of RSUs aligns the director's interests with the long-term performance of the company.
• The vesting period of one year encourages continued service and commitment from the director.

Industry Context

The granting of RSUs to directors is a common practice in corporate governance to align the interests of board members with those of shareholders.

Comparison to Industry Standards

• Granting RSUs to directors is a standard practice across many publicly traded companies, including those in the restaurant and retail sectors.
• Companies like Darden Restaurants (DRI) and Texas Roadhouse (TXRH) also use equity-based compensation for their board members.
• The vesting period of one year is also typical, ensuring directors remain engaged and committed to the company's long-term success.

Stakeholder Impact

• The RSU grant aligns the director's interests with shareholders, potentially leading to better decision-making.
• The vesting period encourages the director's continued service, which benefits the company and its stakeholders.

Key Dates

Keywords

RSU, Restricted Stock Units, Director Compensation, Stock Award, Cracker Barrel, CBRL, John W. Garratt, Omnibus Incentive Compensation Plan