Form 4: GMT Capital Reduces Cracker Barrel Stake by 42,400 Shares

GMT Capital and affiliated entities reported the sale of 42,400 shares of Cracker Barrel Old Country Store common stock at $27.10 per share, reducing their beneficial ownership to 2,197,800 shares.

Summary

• GMT Capital Corp, along with Bay Resource Partners, Bay II Resource Partners, Bay Resource Partners Offshore Master Fund, L.P., and Thomas E. Claugus (collectively, the Reporting Persons), reported a sale of common stock in Cracker Barrel Old Country Store, Inc. (CBRL).
• The transaction involved the disposition of 42,400 shares of CBRL common stock.
• The shares were sold on January 5, 2026, at a price of $27.10 per share, totaling an aggregate value of $1,149,640.
• Following this transaction, the Reporting Persons collectively beneficially own 2,197,800 shares of CBRL common stock.
• The sale was conducted pursuant to a Rule 10b5-1(c) contract, instruction, or written plan, indicating a pre-scheduled transaction.
• Individual ownership after the sale: Bay Resource Partners, L.P. owns 620,300 shares (sold 11,900); Bay II Resource Partners, L.P. owns 402,400 shares (sold 7,800); Bay Resource Partners Offshore Master Fund, L.P. owns 1,052,300 shares (sold 20,300); and Thomas E. Claugus owns 122,800 shares (sold 2,400).
• GMT Capital is the general partner of Bay Resource Partners and Bay II Resource Partners, and the discretionary investment manager of Bay Resource Partners Offshore Master Fund, L.P., directing voting and disposition of shares.
• Thomas E. Claugus is the President of GMT Capital and directs the operations of Bay Resource Partners and Bay II Resource Partners, and voting/disposition of shares held by Bay Resource Partners Offshore Master Fund, L.P.

Sentiment

Score: 4

Explanation: The sale of a significant number of shares by a 10% owner, even under a pre-planned 10b5-1 arrangement, can be interpreted as a slightly negative signal regarding the insider's long-term conviction in the company's immediate growth prospects. However, the pre-planned nature mitigates the immediate negative impact.

Positives

• The transaction was executed pursuant to a Rule 10b5-1(c) plan, which indicates a pre-scheduled sale rather than an immediate reaction to new information, promoting orderly market transactions.

Negatives

• A significant 10% owner and affiliated entities sold 42,400 shares of common stock, which reduces their overall beneficial ownership in Cracker Barrel Old Country Store, Inc.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• The sale of common stock by GMT Capital Corp and its affiliated entities, which are 10% owners and directors of Cracker Barrel Old Country Store, Inc., constitutes a related party transaction.

Stakeholder Impact

• Shareholders: May interpret the sale by a significant owner as a signal, potentially influencing short-term stock price movements or investor sentiment.
• Company Management: The transaction itself does not directly impact company operations but is a disclosure requirement for significant shareholders.

Key Dates

Keywords

Cracker Barrel Old Country Store, CBRL, GMT Capital, insider transaction, Form 4, beneficial ownership, stock sale, 10b5-1 plan, institutional investor, Thomas E. Claugus