Form 4: Isely Lark sells 500 NGVC shares for $41 each

Rhea-AI Filing Summary

Insider sale reported: Isely Lark, affiliated with Natural Grocers by Vitamin Cottage, Inc. (NGVC), reported a sale of 500 shares of the company's common stock on 08/25/2025 at a reported price of $41 per share, leaving a beneficial ownership of 4,182 shares held directly. The Form 4 was signed by Kemper Isely under power of attorney on 08/27/2025.

Insights

Financial Analyst

TL;DR: A small insider sale of 500 NGVC shares was reported; transaction size appears immaterial to valuation.

The filing documents a straightforward open-market disposition of 500 shares at $41 each, reducing direct beneficial ownership to 4,182 shares. There are no derivative transactions, amendments, or other compensatory grants disclosed. Given the limited size of the sale relative to typical public-company float, this filing is routine and provides no new financial metrics or guidance.

Corporate Governance Expert

TL;DR: Routine Form 4 disclosure of an insider sale; governance implications appear minimal based on disclosed facts.

The report identifies the reporting person and address, relationship to the issuer as an officer, and records a single non-derivative sale. The form was executed via power of attorney. No indications of related-party transactions, plan-based trades, or changes in control are present in the filing. Disclosure meets Section 16 reporting requirements.

Insider Trade Summary

Net Seller: 500 shares

Net Sell 1 txn

Insider Isely Lark

Role Insider

Sold 500 shs ($21K)

Type	Security	Shares	Price	Value
Sale	Common Stock	500	$41.00	$21K

Holdings After Transaction: Common Stock — 4,182 shares (Direct)

FAQ

What transaction did Isely Lark report on the Form 4 for NGVC?

The Form 4 reports an open-market sale of 500 shares of NGVC common stock on 08/25/2025 at a reported price of $41 per share.

How many NGVC shares does the reporting person own after the transaction?

Following the reported sale, the reporting person beneficially owns 4,182 shares of NGVC common stock.

Were any derivative securities reported on this Form 4 for NGVC?

No. Table II for derivative securities contains no reported transactions or holdings in this filing.

Who signed the Form 4 for Isely Lark and when was it signed?

The Form 4 was signed by /s/ Kemper Isely, by Power of Attorney on 08/27/2025.

Does the filing indicate the sale was part of a 10b5-1 plan or similar arrangement?

The filing does not indicate that the transaction was made pursuant to a 10b5-1 plan; no such plan is disclosed in the reported fields.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 08/27/2025 - 06:00 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Isely Lark

(Last) (First) (Middle)

C/O NATURAL GROCERS BY VITAMIN COTTAGE

12612 W. ALAMEDA PARKWAY

(Street)

LAKEWOOD CO 80228

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Natural Grocers by Vitamin Cottage, Inc. [ NGVC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			13D Group Member

3. Date of Earliest Transaction (Month/Day/Year)
08/25/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/25/2025		S		500	D	$41	4,182	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

	/s/ Kemper Isely, by Power of Attorney	08/27/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.