Joint Corp. names Jeff Gramm to board, signs standstill agreement with Bandera

The Joint Corp. will appoint Jeff Gramm to the board of directors, effective January 2, 2024 and nominate him for election to the board at the company’s 2024 Annual Meeting of shareholders. Gramm fills a vacated seat, and the current board size remains at seven. Gramm’s appointment to the Board occurs in conjunction with a Nominating and Standstill Agreement with Bandera Partners, LLC and certain of its affiliates, which in aggregate own 3,937,296 shares of the company’s common stock, representing approximately 26.69% of the shares outstanding. Under the terms of that Agreement, Bandera has agreed to limit its beneficial ownership of the Company’s securities to its current ownership position and to abide by certain other customary standstill provisions, effective as of the date of the Agreement through the earlier of January 2, 2025 or the date which is thirty days prior to the nomination deadline for the Company’s 2025 annual meeting of stockholders.