Cracker Barrel in its Nomination and Cooperation Agreement with Biglari Capital Corp.

On September 28, 2022, Cracker Barrel Old Country Store, Inc. and Biglari Capital Corp. announced that they have entered into a Nomination and Cooperation Agreement, pursuant to which the Company has expanded the Company’s Board to eleven directors and appointed Jody L. Bilney, one of Biglari’s nominees, as a director, effective immediately.

Biglari and its affiliates, including Biglari Holdings Inc., have agreed to customary standstill restrictions that will be in effect until February 29, 2024.

Wachtell, Lipton, Rosen & Katz served as legal advisor to Cracker Barrel.