Biglari nominates five candidates to Cracker Barrel board; seventh proxy contest in 13 years

CRACKER BARREL OLD COUNTRY STORE, INC

Biglari (Lion Fund II) nominated five candidates for Cracker Barrel's Board at the 2024 Annual Meeting.
This is the seventh proxy contest by Biglari in 13 years; shareholders rejected previous ones by increasing margins.
Cracker Barrel's board has ten directors, nine independent; six appointed in last four years.
Company is pursuing strategic transformation under new CEO Julie Masino, fully supported by independent board.
Company disappointed by costly distraction; will consider nominations and present recommendations later.

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