Jack in the Box Inc.

JACK

Reporting person: Biglari Capital Corp.(fund)

Biglari Capital seeks board changes at Jack in the Box

Contested meetinghigh confidence9.97% stake

Contest Strategydissident slate, solicitors, demands

Contested annualVote Feb 27, 2026

What's being contested

Board seatsCompensationOther

IssuerJack in the Box Inc. (JACK)

Issuer solicitor—

Reporting personBiglari Capital Corp. (fund)

Dissident solicitorSaratoga Proxy Consulting LLC

Stake1,884,269 sh9.97%

Dissident counsel—

Cost basis—

Meeting dateFeb 27, 2026

Record date—

Primary demands

board refreshment
strategic oversight
reverse value destruction
meaningful change

Vote Mechanics

140d post-vote

Vote dateFeb 27, 2026

Record date—

Mailing date—

Record → vote—

Threshold—

Min approvalparsed—

Shares outstanding—

Insider lock-up—

Advisors

No advisor data on record for this deal.

Sources

SEC Filing

Biglari Capital Corp. and affiliated entities, holding 9.97% of Jack in the Box Inc., filed a preliminary proxy statement seeking shareholder votes against the re-election of three board members at the 2026 annual meeting scheduled for February 27, 2026. The dissident argues the incumbent board lacks the right experience and skillset to address strategic missteps and reverse years of stockholder value destruction. Biglari is also recommending votes against executive compensation, share plan amendments, and a shareholder protection rights agreement.

Item id: 4a710aec-eb9f-4bb3-bc1f-e90b78854ab0 · ingested Apr 24, 2026