# CRACKER BARREL OLD COUNTRY STORE, INC (CBRL) — activist_campaign/settlement [announced]
Source: SEC API (secapi.ai) · situation sit_7c1f3893e18065fb151d · retrieved 2026-08-11T15:52:21.191Z

## Overview
Cracker Barrel Old Country Store, Inc. operates a chain of casual dining restaurants combined with retail gift shops across the United States.

Cracker Barrel Old Country Store announced a CEO transition effective August 10, 2026. Julie Masino, the current President and Chief Executive Officer, will step down from that role and resign from the Board on the Effective Date. David Deno, age 69 and former CEO of Bloomin' Brands (2019–2024), will assume the role of President and Chief Executive Officer and join the Board. Masino will remain an employee until October 9, 2026 to assist with the leadership transition. Under his Employment Agreement dated July 26, 2026, Deno will receive an annualized base salary of $1,000,000, an annual bonus with an initial target of 125% of Base Salary (not eligible for fiscal 2026), and a long-term incentive award target of 360% of Base Salary. Deno will also receive a one-time sign-on award comprised of restricted stock units and stock options, each with a grant date fair market value of $200,000, vesting on the third anniversary of the grant date (August 10, 2029), subject to continued employment. Masino will receive separation payments and equity treatment substantially consistent with a termination without Cause under her existing Employment Agreement, including a $4,635,000 severance payment payable over two years and pro-rated vesting of her equity awards.

## Key dates
- Announced 2026-07-27 · Expected close 2026-08-10

## Timeline
- 2026-07-27 · 8-K (0001104659-26-086902): 8-K - CRACKER BARREL OLD COUNTRY STORE, INC — *Cracker Barrel Old Country Store, Inc. operates a chain of casual dining restaurants combined with retail gift shops across the United States.* Cracker Barrel Old Country Store announced a CEO transition effective August 10, 2026. Julie Masino, the current President and Chief Executive Officer, will step down from that role and resign from the Board on the Effective Date. David Deno, age 69 and former CEO of Bloomin' Brands (2019–2024), will assume the role of President and Chief Executive Officer and join the Board. Masino will remain an employee until October 9, 2026 to assist with the leadership transition. Under his Employment Agreement dated July 26, 2026, Deno will receive an annualized base salary of $1,000,000, an annual bonus with an initial target of 125% of Base Salary (not eligible for fiscal 2026), and a long-term incentive award target of 360% of Base Salary. Deno will also receive a one-time sign-on award comprised of restricted stock units and stock options, each with a grant date fair market value of $200,000, vesting on the third anniversary of the grant date (August 10, 2029), subject to continued employment. Masino will receive separation payments and equity treatment substantially consistent with a termination without Cause under her existing Employment Agreement, including a $4,635,000 severance payment payable over two years and pro-rated vesting of her equity awards.
  https://www.sec.gov/Archives/edgar/data/1067294/0001104659-26-086902.txt

## Citations
- 0001104659-26-086902 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000110465926086902