Independent Proxy Advisors Recommend Ingles Markets Shareholders Vote for Rory A. Held

Published: 2026-04-20 13:20:31 ET IMKTA

Published on 04/20/2026 at 01:20 pm EDT

On April 20, 2026, Summer Road LLC announced that 3 independent proxy advisory firms, Institutional Shareholder Services Inc., Glass, Lewis & Co., LLC and Egan-Jones Ratings Company, recommended the shareholders of Ingles Markets, Incorporated to vote for the election of Summer Road nominee Rory A. Held to Company?s board of directors at the 2026 Annual Meeting of Shareholders. In addition, Summer Road stated that proxy advisors? respective reports highlight many of the issues raised by its campaign, including Company?s deficient disclosure, trailing shareholder returns, persistent operational underperformance and record of functioning like a privately held enterprise to the detriment of Class A shareholders.

Further, Summer Road stated that proxy advisors have also taken note of the Company?s efforts to deceive the public, including by altering its peer group to artificially make its performance look better, and encourage shareholders to heed all 3 proxy advisors? recommendations by electing Held to ensure that Class A shareholders finally have legitimate, independent representation on Company?s Board.