Form 4: Cracker Barrel Officer Sells Shares for Tax Withholding

Cracker Barrel's SVP Chief Supply Chain Officer, Jim Mark Spurgin, disposed of 318 shares of common stock to cover tax withholding obligations related to vested awards.

Summary

• Jim Mark Spurgin, SVP Chief Supply Chain Officer at Cracker Barrel Old Country Store, Inc. (CBRL), reported a transaction.
• On January 17, 2026, Spurgin disposed of 318 shares of common stock.
• The disposition was made at a price of $32.76 per share.
• This transaction was to satisfy federal tax withholding obligations on the vesting of previously disclosed awards.
• Following this transaction, Spurgin beneficially owns 6,139 shares of common stock directly.
• The transaction was executed under a Rule 10b5-1 plan.

Sentiment

Score: 5

Explanation: Neutral. This is a routine, non-discretionary transaction for tax purposes related to vested equity awards, which is neither inherently positive nor negative for the company's operational or financial performance.

Positives

• The transaction indicates the vesting of previously granted equity awards, a positive for the executive's compensation.
• The disposition was for a non-discretionary reason (tax withholding), not a discretionary sale by the officer.

Negatives

• A reduction in the direct share ownership of an executive, although for a routine tax-related purpose.

Future Outlook

No future outlook or guidance is provided in this Form 4 filing, as it is a report of a past insider transaction.

Management Comments

• The transaction represents shares deducted to satisfy federal tax withholding obligations on the vesting of a previously disclosed awards.

Industry Context

This insider transaction report reflects a routine aspect of executive compensation involving equity awards, common across publicly traded companies in various industries. It does not provide insights into broader industry trends or competitive landscape.

Comparison to Industry Standards

• The disposition of shares for tax withholding upon the vesting of equity awards is a standard practice for executives receiving stock-based compensation across most publicly traded companies.
• The use of a Rule 10b5-1 plan for such transactions is also a common corporate governance practice to demonstrate pre-planned, non-discretionary trading.

Related Party Transactions

• The transaction involves an officer of the company disposing of shares to the company to cover tax obligations related to equity compensation, which is a routine related-party dealing.

Stakeholder Impact

• Shareholders: Minimal impact, as this is a routine tax-related transaction for executive compensation and does not reflect a discretionary sale or significant change in company fundamentals.
• Employees: Reflects standard equity compensation practices for executives within the company.

Key Dates

Recommendation

This Form 4 reports a routine, non-discretionary disposition of shares by an officer to cover tax obligations upon the vesting of equity awards. It does not provide any new information regarding the company's operational performance, financial health, or strategic direction that would warrant a change in investment recommendation. The transaction is a standard part of executive compensation and does not signal any fundamental shift in the company's prospects.

Keywords

Cracker Barrel, CBRL, Form 4, Insider Transaction, Stock Sale, Tax Withholding, Jim Mark Spurgin, Officer, Supply Chain Officer, Equity Compensation