Cracker Barrel's leadership received a failing grade in a proxy advisory firm's pay for performance metric last year before the company decided to move forward on an ill-fated rebranding effort.

A report by proxy advisory firm Glass Lewis in Nov. 2024 ahead of a shareholder vote gave Cracker Barrel an "F" grade in the firm's proprietary metric for the company's 2024 fiscal year. The struggling restaurant chain also received "D" grades on Glass Lewis' pay for performance metric in both fiscal years 2022 and 2023.

The report noted a "potentially severe disconnect between pay and performance" due to Cracker Barrel's performance relative to its executive pay levels among peer firms.

Glass Lewis noted that Cracker Barrel's CEO transition "heavily impacted pay practices for the year in

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