[Form 4] CRACKER BARREL OLD COUNTRY STORE, INC Insider Trading Activity

Rhea-AI Filing Summary

Insider grants reported: Jim Mark Spurgin, SVP Chief Supply Chain Officer of Cracker Barrel Old Country Store, Inc. (CBRL), reported receipt of non‑derivative and derivative awards on 09/25/2025. He was awarded 1,863 restricted stock units (RSUs) under the annual long‑term incentive (LTI) plan and 4,396 stock options with a $43.80 exercise price. The RSUs will vest in three equal annual installments on 09/30/2026, 09/30/2027, and 09/30/2028. The stock options likewise vest ratably on the same three dates and are exercisable beginning 09/25/2026 with an expiration of 09/25/2035. After these awards, Spurgin beneficially owns 6,906 shares of common stock and 4,396 underlying option shares, all reported as direct holdings.

Positive

• Detailed disclosure of awards: The Form 4 specifies quantities, vesting dates, and exercise price for both RSUs and options.
• Vesting schedule provided: RSUs and options vest ratably in three equal installments on 09/30/2026, 09/30/2027, and 09/30/2028.

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine annual equity awards for an executive; standard vesting schedule, exercise price set at $43.80.

The Form 4 discloses an annual LTI award comprising time‑based RSUs and stock options granted to the SVP Chief Supply Chain Officer on 09/25/2025. Vesting is ratable over three years with explicit vesting dates of 09/30/2026, 09/30/2027, and 09/30/2028. Options have a stated exercise price of $43.80 and a ten‑year contractual term to 09/25/2035. Reported post‑transaction beneficial ownership is 6,906 common shares and options covering 4,396 shares, all held directly. This filing is a routine insider compensation disclosure and does not itself indicate trading activity in the open market.

Corporate Governance Expert

TL;DR: Disclosure documents standard LTI grants with clear vesting and ownership reporting; no unusual terms disclosed.

The filing clearly states the nature and schedule of the long‑term incentive awards: annual time‑based RSUs and stock options that vest ratably over three years. The attorney‑in‑fact signature is provided with a filing date of 09/29/2025. There are no amendments, dispositions, or derivative exercises reported. From a governance and disclosure perspective, the Form 4 meets Section 16 reporting requirements by specifying award amounts, vesting chronology, exercise price, and resulting direct beneficial ownership.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Spurgin Jim Mark

(Last) (First) (Middle)

305 S. HARTMANN DRIVE

(Street)

LEBANON TN 37087

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CRACKER BARREL OLD COUNTRY STORE, INC [ CBRL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP Chief Supply Chain Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/25/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/25/2025		A		1,863(1)	A	$0.00	6,906	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Options (Right to Buy)	$43.8	09/25/2025		A		4,396(2)		09/25/2026	09/25/2035	Common Stock	4,396	$0.00	4,396	D

Explanation of Responses:

1. Represents an annual LTI plan award of time-based RSUs which will vest ratably over three years in equal installments on 9/30/26, 9/30/27, and 9/30/28.

2. Represents an annual LTI plan award of stock options which will vest ratably over three years in equal installments on 9/30/26, 9/30/27, and 9/30/28.

Remarks:

	Jim Mark Spurgin by Richard M. Wolfson, Attorney in Fact	09/29/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What equity awards did Jim Mark Spurgin receive according to the Form 4 for CBRL?

He received 1,863 RSUs and 4,396 stock options under the annual LTI plan, both reported with a transaction date of 09/25/2025.

When do the RSUs and options vest for the CBRL filing?

Both the RSUs and the stock options vest ratably in three equal installments on 09/30/2026, 09/30/2027, and 09/30/2028.

What is the exercise price and term of the stock options reported on the Form 4?

The stock options have an exercise price of $43.80, are exercisable beginning 09/25/2026, and expire on 09/25/2035.

How many shares does Spurgin beneficially own after the reported transaction?

The filing reports 6,906 shares of common stock and 4,396 option shares beneficially owned following the transaction, held directly.

Was this Form 4 an amendment or an initial report and who signed it?

The filing is an initial Form 4 (no amendment date listed) and is signed by Jim Mark Spurgin by Richard M. Wolfson, Attorney in Fact with a signature date of 09/29/2025.