J. Alexander’s Enters into Cooperation Agreement with Ancora Advisors

NASHVILLE, Tenn.--(BUSINESS WIRE)--J. Alexander’s Holdings, Inc. (NYSE: JAX) (the “Company”), owner and operator of J. Alexander’s, Redlands Grill, Stoney River Steakhouse and Grill and other restaurants, today announced the expansion of its Board of Directors (the “Board”) to seven directors and the appointment of Carl J. Grassi to the Board as part of a cooperation agreement (the “Agreement”) with Ancora Advisors, LLC (“Ancora”). Mr. Grassi will serve as a Class II director, with an initial term through the Company’s 2020 Annual Meeting of Shareholders (the “2020 Annual Meeting”), and the Company has agreed to include Mr. Grassi in the Company’s slate of director nominees for election at the 2020 Annual Meeting for a three-year term.