Form 4: Cracker Barrel Exec Receives Future Equity Award

Cracker Barrel's SVP Chief Supply Chain Officer, Jim Mark Spurgin, was granted 1,863 shares of common stock and 4,396 stock options as part of an annual long-term incentive plan, effective September 25, 2025.

Summary

• Jim Mark Spurgin, SVP Chief Supply Chain Officer of Cracker Barrel Old Country Store, Inc. (CBRL), was granted equity awards.
• The awards include 1,863 shares of common stock in the form of time-based Restricted Stock Units (RSUs).
• These RSUs will vest ratably over three years in equal installments on September 30, 2026, September 30, 2027, and September 30, 2028.
• An additional 4,396 stock options were granted with an exercise price of $43.8 per share.
• The stock options will also vest ratably over three years in equal installments on September 30, 2026, September 30, 2027, and September 30, 2028, and expire on September 25, 2035.
• Following these transactions, Mr. Spurgin beneficially owns 6,906 shares of common stock and 4,396 stock options.
• The transaction date for both awards is September 25, 2025.

Sentiment

Score: 6

Explanation: The filing reports a routine executive compensation event, which is generally a neutral to slightly positive signal as it indicates ongoing executive retention and alignment with company performance. It does not contain information that would significantly alter the company's outlook or financial position.

Positives

• The equity awards align the executive's interests with those of shareholders through long-term incentives.
• The grants are part of an annual long-term incentive plan, indicating a structured approach to executive compensation.

Future Outlook

The grants of Restricted Stock Units and stock options are part of a long-term incentive plan designed to vest over three years, aligning the executive's future performance with shareholder value. The vesting schedule extends through September 2028, with stock options exercisable until September 2035.

Industry Context

This filing represents a routine executive compensation event, common across publicly traded companies, where long-term incentive awards like RSUs and stock options are used to attract, retain, and motivate key management personnel. Such awards are standard practice in the restaurant and retail industry to align executive performance with company growth and shareholder returns.

Stakeholder Impact

• Shareholders: Executive compensation through equity awards aims to align management's interests with shareholder value creation over the long term.
• Employees: The SVP Chief Supply Chain Officer's compensation structure may influence morale and retention among other senior management.

Next Steps

• First vesting installment for RSUs and stock options on September 30, 2026.
• Second vesting installment for RSUs and stock options on September 30, 2027.
• Third vesting installment for RSUs and stock options on September 30, 2028.
• Stock options remain exercisable until their expiration date of September 25, 2035.

Key Dates

Recommendation

This Form 4 filing details a routine executive compensation grant and does not contain information significant enough to warrant a change in investment recommendation. It reflects standard corporate governance practices for aligning executive incentives with long-term company performance. Investors should consider broader financial reports and market conditions for investment decisions.

Keywords

Cracker Barrel, CBRL, Jim Mark Spurgin, SEC Form 4, Insider Transaction, Equity Award, Restricted Stock Units, Stock Options, Executive Compensation, Long-Term Incentive