Summer Road Issues Statement in Response to Ingles Markets? Public Statement

Published: 2026-04-17 11:37:22 ET IMKTA

Published on 04/17/2026 at 11:37 am EDT

On April 17, 2026, Summer Road LLC issued a press release in response to Ingles Markets, Incorporated?s public statements, calling on the Board of Company to stop wasting shareholder resources on fabricated issues to mislead shareholders and urging shareholders to elect Rory A. Held to the Board at the 2026 annual meeting of shareholders. In addition, Summer Road stated that Rory A. Held has no conflict of interest with Company shareholders and would owe a fiduciary duty to all Ingles shareholders if elected to the Board, emphasizing that Held is more aligned with shareholders than Rebekah Lowe and Dwight Jacobs, neither of whom owns a single Company share. Further, Summer Road criticized the incumbent Board?s judgment, opposition to the election of an independent Class A shareholder voice, and misunderstanding of public company governance, highlighting Held?s financial acumen, sound judgment, personal integrity, and significant Company stock ownership.

Furthermore, Summer Road asserted that the Board?s campaign does not address Company?s lagging shareholder returns, deficient disclosure, lack of boardroom accountability, operational underperformance, and disastrous capital allocation, and encouraged shareholders to elect Held to ensure independent representation on Company?s Board.