• Activist investor Summer Road, holder of about 3% of Ingles Class A stock, urged shareholders to elect its nominee Rory Held to board at April 30 annual meeting.
• Summer Road criticized dual-class structure, saying Chairman Robert Ingle effectively controls board selection, including Class A seats.
• Letter flagged capital allocation concerns, citing $1.5 billion in capital expenditures with no meaningful operating income improvement.
• Summer Road pointed to weak performance, citing 4% EBITDA growth over 10 years despite 41% increase in net sales.
• Campaign opposed Ingles-backed Class A director nominee Rebekah Lowe, citing zero Class A share ownership.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Ingles Markets Incorporated published the original content used to generate this news brief via Business Wire (Ref. ID: 20260427552631) on April 27, 2026, and is solely responsible for the information contained therein.