Less than 20% voted against Lowery. So this wasnt even close.
I would have figured at least 35-40%. So this is very surprising to me.
The 2011 annual meeting of shareholders of Cracker Barrel Old Country Store, Inc., a Tennessee corporation (the “Company”), was held on December 20, 2011 (the “Annual Meeting”). On December 27, 2011, IVS Associates, Inc., the independent inspector of elections for the Annual Meeting (“IVS”), delivered its certification of final voting results for the Annual Meeting to the Company. The voting results show that a total of 18,952,105 shares of the Company’s common stock, out of a total of 22,912,673 shares of common stock outstanding and entitled to vote, were present in person or represented by proxies at the Annual Meeting, and that the results for each proposal presented to shareholders at the Annual Meeting are as set forth below:
1. Election to the Company’s Board of Directors of 11 out of the following 12 director nominees:
For Withheld James W. Bradford 16,574,085 2,378,020* Sandra B. Cochran 16,438,432 2,513,673* Robert V. Dale 16,300,113 2,651,992* Richard J. Dobkin 16,508,613 2,443,492* Charles E. Jones, Jr. 12,012,578 233,077 B. F. “Jack” Lowery 15,284,997 3,667,108* William W. McCarten 16,579,159 2,372,946* Martha M. Mitchell 16,318,414 2,633,691* Coleman H. Peterson 16,564,240 2,387,865* Andrea M. Weiss 16,485,602 2,466,503* Michael A. Woodhouse 16,330,538 2,621,567* Sardar Biglari 6,646,692 59,758
* The Company’s proxy solicitor, MacKenzie Partners, Inc. (“MacKenzie”), has informed the Company that MacKenzie determined that Biglari Holdings Inc. and its affiliates withheld 2,284,164 votes for each of Messrs. Bradford, Dale, Dobkin, Lowery, McCarten, Peterson and Woodhouse and Mses. Cochran, Mitchell and Weiss.
The following 11 directors were elected at the Annual Meeting: James W. Bradford, Sandra B. Cochran, Robert V. Dale, Richard J. Dobkin, Charles E. Jones, Jr., B.F. “Jack” Lowery, William W. McCarten, Martha M. Mitchell, Coleman H. Peterson, Andrea M. Weiss and Michael A. Woodhouse. In addition, IVS has advised the Company that there were zero broker non-votes for proposal 1.
2. Approval of the Company’s shareholder rights plan: