Cracker Barrel Shareholders Overwhelmingly Support All Company Director Nominees At Annual Meeting Per Preliminary Results

About this update from Cracker Barrel Old Country Store, Inc.

[{"type":"text","content":"LEBANON, Tenn., Nov. 19, 2020 /PRNewswire/ -- Cracker Barrel Old Country Store® (Nasdaq: CBRL) (\"Cracker Barrel\" or the \"Company\") today announced the preliminary results, provided by the Company's proxy solicitor, of its Annual Meeting of Shareholders. The preliminary results indicate shareholders have re-elected all ten of the Company's directors by an overwhelming margin.\nFollowing the Annual Meeting, Cracker Barrel's Independent Chairman of the Board, William McCarten said, \"We are gratified by our shareholders' continued support of our Board of Directors, and firmly believe our Board is comprised of outstanding directors who will continue to drive the successful execution of Cracker Barrel's go-forward strategy. We are focused on continuing to adapt our operations to the extraordinary environment while executing on our proven strategic plan and generating shareholder value.\"\nMr. McCarten also acknowledged that the preliminary results suggest that a significant number of the Company's shareholders cast an advisory vote against the compensation of the Company's named executive officers and stated, \"Although we believe that our compensation programs and the compensation decisions our Board made in response to the pandemic were well considered and appropriate, we take shareholder input seriously. We look forward to engaging with our shareholders over the upcoming months to better explain our decisions and to understand and respond to their concerns.\"\nFirst Coast Results, Inc., the independent inspector of election, will tabulate and certify the election results, after which Cracker Barrel will timely file them with the Securities and Exchange Commission in a Current Report on Form 8-K. \nAbout Cracker Barrel Old Country Store, Inc.Cracker Barrel Old Country Store, Inc. (Nasdaq: CBRL) shares warm welcomes and friendly service while offering guests high-quality homestyle food and unique shopping — all at a fair price. By creating a world filled with hospitality through an experience that combines dining and shopping, guests are cared for like family. Established in 1969 in Lebanon, Tenn., Cracker Barrel and its affiliates operate more than 660 company-owned Cracker Barrel Old Country Store® locations in 45 states and own the fast-casual Maple Street Biscuit Company. For more information about the company, visit www.cra...

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