Form 4: Cracker Barrel SVP Operations, Cammie Schaefer, Reports Acquisition of Stock Options and Restricted Stock Units

Cammie Schaefer, SVP Operations at Cracker Barrel, reports the acquisition of stock options and restricted stock units (RSUs) as part of an annual long-term incentive (LTI) plan award.

Summary

• On September 26, 2024, Cammie Schaefer, SVP Operations at Cracker Barrel Old Country Store, Inc., reported the acquisition of 2,782 shares of common stock and 7,171 stock options.
• The common stock was acquired through an annual LTI plan award of time-based RSUs.
• These RSUs will vest ratably over three years, with equal installments on September 30, 2025, September 30, 2026, and September 30, 2027.
• The stock options, also part of the annual LTI plan award, will vest ratably over three years with the same vesting schedule as the RSUs.
• The exercise price for the stock options is $45.96, and they expire on September 26, 2034.
• Following these transactions, Schaefer beneficially owns 19,520 shares of common stock and 7,171 stock options.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive as it reflects standard executive compensation practices, aligning management interests with shareholders. The vesting schedule promotes long-term commitment.

Positives

• The acquisition of RSUs and stock options indicates a long-term incentive plan for a key executive, aligning their interests with the company's performance.
• The vesting schedule encourages continued service and commitment from the executive.

Industry Context

This Form 4 filing is a routine disclosure related to executive compensation and is typical for publicly traded companies. It provides transparency into the equity-based compensation awarded to key executives.

Comparison to Industry Standards

• Equity compensation is a common practice among publicly traded companies to incentivize executives.
• The vesting schedule of three years is a standard practice to ensure long-term commitment.
• Comparable companies like Darden Restaurants (DRI) and Texas Roadhouse (TXRH) also utilize stock options and RSUs as part of their executive compensation packages.

Stakeholder Impact

• Shareholders may view this as a positive sign, as it aligns executive interests with the company's long-term performance.
• Employees may see this as a standard practice for executive compensation.

Key Dates