Here are the DEF 14A proxy statements from Natural Grocers by Vitamin Cottage, Inc (NGVC) in our archive over the last 12 months, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A DEF 14A covers the proxy statement, with executive pay and the shareholder votes, so if you follow NGVC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full NGVC filings page.
Natural Grocers by Vitamin Cottage, Inc. is asking stockholders to vote on two main items at its March 4, 2026 virtual annual meeting. Stockholders will elect three Class II directors—Sandra Buffa, Zephyr Isely and David Rooney—for three-year terms ending at the 2029 annual meeting, and vote on ratifying KPMG LLP as independent registered public accounting firm for the fiscal year ending September 30, 2026.
The company has a seven‑member classified board and qualifies as a NYSE “controlled company” because the Isely family and related entities beneficially own about 57.9% of the common stock as of January 13, 2026. Independent directors Sandra Buffa, Edward Cerkovnik and David Rooney serve on the audit committee, which oversaw audit fees to KPMG of $974,000 for fiscal 2024 and $993,432 for fiscal 2025.
Executive pay is primarily salary and discretionary cash bonuses, with limited equity awards. In fiscal 2025, each Co‑President earned salary of $619,800 (Kemper) and $588,000 (Zephyr), while Executive Vice Presidents Heather and Elizabeth Isely each received $540,000 in salary and $365,000 in discretionary bonus. New CFO Richard Hallé received $559,746 in salary, $567,500 in cash bonuses and equity awards valued at $5,673,050, including 200,000 restricted stock units scheduled to vest in 2029 or upon certain change‑in‑control events.