13D Filing: Marathon Partners and J. Alexander’s Holdings Inc. (JAX)

Item 5.

Interest in Securities of the Issuer.

The aggregate percentage
of Shares reported owned by each Reporting Person is based upon 14,695,176 Shares outstanding, which is the total number of Shares
outstanding as of August 10, 2017, as reported in the Issuer’s Quarterly Report on Form 10-Q, filed with the Securities and
Exchange Commission on August 11, 2017.

A.

Marathon Partners

(a)

Marathon Partners, as the investment manager of each of Partners LP and Focus Fund, and the general partner of Partners LP, may be deemed the beneficial owner of the (i) 800,000 Shares owned by Partners LP and (ii) 130,000 Shares owned by Focus Fund.

Percentage: Approximately
6.3%

(b)

1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 930,000 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 930,000

(c)

Marathon Partners has not entered into any transactions in the Shares during the past sixty days. The transactions in the Shares by Partners LP during the past sixty days are set forth in Schedule A and are incorporated herein by reference.

B.

Mr. Cibelli

(a)

Mr. Cibelli, as the managing member of each of Cibelli Research and Marathon Partners, may be deemed the beneficial owner of the (i) 800,000 Shares owned by Partners LP and (ii) 130,000 Shares owned by Focus Fund.

Percentage: Approximately
6.3%

(b)

1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 930,000 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 930,000

(c)

Mr. Cibelli has not entered into any transactions in the Shares during the past sixty days. The transactions in the Shares on behalf of Partners LP during the past sixty days are set forth in Schedule A and are incorporated herein by reference.

C.

Focus Fund

(a)

As of the close of business on September 25, 2017, Focus Fund beneficially owned 130,000 Shares.

Percentage: Approximately
0.9%