Monro, Inc. plans to reclassify its equity capital structure by eliminating the Class C Convertible Preferred Stock, subject to shareholder approval. The company entered into a reclassification agreement with the holders of the Class C Preferred Stock. The Recapitalization will involve a mandatory conversion of outstanding shares of Class C Preferred Stock into common stock at an adjusted conversion rate. The board of directors also approved an amendment to declassify the board.