Form 4: Cracker Barrel Exec's Stock Transactions

Cracker Barrel SVP Jim Spurgin reports acquisition of performance shares and subsequent tax-related dispositions.

Summary

• SVP Chief Supply Chain Officer Jim Mark Spurgin reported transactions involving Cracker Barrel Old Country Store, Inc. (CBRL) common stock.
• Acquired 210 shares of common stock on September 30, 2025, through the vesting of performance stock awards.
• The vesting was based on three-year performance requirements certified by the Compensation Committee under the FY23 Long-Term Performance Plan.
• Disposed of 88 shares at $44.06 on September 30, 2025, to cover federal tax withholding for the newly vested award.
• Disposed of an additional 571 shares at $44.06 on September 30, 2025, to cover federal tax withholding for previously vested awards.
• Following these transactions, Spurgin's direct beneficial ownership of common stock is 6,457 shares.

Sentiment

Score: 6

Explanation: The filing reports routine insider transactions involving the vesting of performance-based equity awards and subsequent tax-related share dispositions, indicating the achievement of performance targets.

Positives

• Vesting of 210 performance stock units suggests the company met specific three-year performance requirements under its FY23 Long-Term Performance Plan.

Negatives

• A total of 659 shares were disposed of to cover federal tax withholding obligations, reducing the executive's direct beneficial ownership.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: Minor dilution from shares used for tax, but a positive signal from the achievement of performance targets.
• Employees: Reflects standard executive compensation practices and the fulfillment of long-term incentive plans.

Key Dates

Recommendation

This Form 4 filing details routine insider transactions related to executive compensation, specifically the vesting of performance stock and subsequent tax-related share dispositions. It does not provide new material information about the company's operational performance, financial health, or strategic direction that would warrant a change in investment recommendation. The vesting of performance shares is a positive signal regarding past performance targets being met, but the overall impact on the company's valuation or future prospects is negligible. Therefore, a 'hold' recommendation is appropriate as the filing does not present a compelling reason to buy or sell based solely on this information.

Keywords

Cracker Barrel, CBRL, Insider Trading, Form 4, Stock Vesting, Executive Compensation, Jim Spurgin