KKD management KNEW that the company would most likely become a very attractive target 3 years ago and took this step to protect them from being taken over at an unfair price.
They have since built a very strong operation.
Would have to wonder if they will let the term of this share holder rights plan expire this week.
If so - maybe they feel that it would invite / or allow reasonable bids for the company at this time.
They were trading at a completely unreasonable level of $3 per share at the time they adopted the plan in 2010.
Now at just under $12 per share they probably feel that they are in a position of being able to entertain an offer with a healthy premium attached that reflects the BRAND upside potential in the years ahead.
As the Winston Salem article pointed out this morning - they are in a very strong position to accelerate growth and potentially realize significant share price appreciation over the coming 2-3 years ++.