Natural Grocers by Vitamin Cottage, Inc. filings document the public-company record for a Delaware specialty retailer of natural and organic groceries, dietary supplements and body care products. Recent Form 8-K reports furnish operating results, investor presentations, dividend declarations and other material events tied to the company's retail-store economics.
Proxy and annual meeting filings cover board elections, auditor ratification, executive compensation, equity-award practices and shareholder voting results. The filing record also includes compensatory-arrangement disclosures and references to MD&A and risk-factor sections in the company's periodic reports, linking governance, financial condition and operating risks to its natural and organic retail business.
Natural Grocers by Vitamin Cottage, Inc. director Edward Cerkovnik reported equity compensation activity involving restricted stock units (RSUs) and common shares.
On March 4, 2026, he received a grant of 2,253 RSUs for service on the board. These RSUs will vest on March 4, 2027, subject to continued service, and will be settled in shares of NGVC common stock.
On March 5, 2026, 1,532 RSUs vested and were converted into 1,532 shares of common stock at no exercise price, reflecting a derivative exercise/conversion rather than an open‑market purchase. Following these transactions, he directly holds 61,748 common shares and 2,253 RSUs.
Buffa Sandra reported acquisition or exercise transactions in this Form 4 filing.
Natural Grocers by Vitamin Cottage director Sandra Buffa reported equity-based awards and conversions rather than open‑market trades. On March 5, 2026, 1,532 restricted stock units vested and were settled in an equal number of common shares, leaving her with 13,551 common shares held directly.
Following that vesting, 2,253 restricted stock units remained outstanding. On March 4, 2026, she also received a new grant of restricted stock units for service on the board of directors; 3,785 units were outstanding after this grant. These new units will vest on March 4, 2027, subject to continued service and will be settled in common stock.
Natural Grocers by Vitamin Cottage, Inc. filed a current report to note that it has released financial results for the three months ended December 31, 2025. The company issued a press release on February 5, 2026, which is furnished as Exhibit 99.1 to this report.
The report clarifies that the press release and related information are furnished, not filed, under securities laws and are not automatically incorporated into other Securities Act or Exchange Act filings unless specifically referenced.
Natural Grocers by Vitamin Cottage, Inc. reported modest growth for the quarter ended December 31, 2025. Net sales were $335.6 million, up 1.6% year over year, driven by a 1.7% increase in daily average comparable store sales, with both transaction counts and ticket size improving.
Gross profit held essentially flat at $98.9 million, while gross margin slipped to 29.5% from 29.9% due to lower product margin and higher inventory shrink. Tighter cost control helped operating income rise 9.7% to $14.6 million, and net income increased to $11.3 million, or $0.49 per diluted share, from $9.9 million, or $0.43 per diluted share.
Cash flow from operations strengthened significantly to $21.1 million, and cash and cash equivalents reached $23.2 million with no borrowings outstanding on the $70.0 million revolving credit facility. The company operated 168 stores at quarter end, paid a $0.15 per share dividend, and the board approved another $0.15 dividend payable in March 2026.
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.
Natural Grocers by Vitamin Cottage, Inc. files its annual report describing its specialty retail business in natural and organic groceries and dietary supplements for fiscal year 2025. The company operates 169 stores in 21 states using a smaller-store, education-focused format built around strict product standards and in-store Nutritional Health Coaches. Its strategy centers on expanding the store base, increasing sales from existing customers through the {N}power rewards program, targeted marketing and home delivery, and improving operating margins via scale and technology investments.
As of September 30, 2025, Natural Grocers employed 3,455 full-time and 795 part-time Crew members and had about 2.7 million registered {N}power members. In fiscal 2025 it opened two new stores and plans to open six to eight new stores in fiscal 2026 while targeting annual unit growth of 4%–5%. Key risks highlighted include intense competition, changing consumer preferences, macroeconomic pressures such as inflation, supply chain and construction cost volatility, and an evolving regulatory landscape for food and dietary supplements.
Natural Grocers by Vitamin Cottage, Inc. reported that it has released its financial results for the three months and fiscal year ended September 30, 2025, through a press release furnished as an exhibit. The company is also providing a November 2025 investor presentation for use in meetings with institutional investors and analysts.
In addition, the Board of Directors declared a quarterly cash dividend of $0.15 per common share, representing a 25% increase in the quarterly dividend. This dividend will be paid on December 10, 2025 to stockholders of record as of the close of business on December 1, 2025, highlighting a higher level of ongoing cash returns to shareholders.
Natural Grocers by Vitamin Cottage (NGVC) reported an insider Form 4 showing the vesting of 4,000 RSUs on November 3, 2025. To cover taxes, 1,150 shares were withheld and cancelled at a price of $32.09 under a Section 16b-3 exempt transaction. Following these entries, the reporting person directly holds 114,969 common shares.
The filing notes additional RSUs scheduled to vest: 4,000 on October 31, 2026, 3,000 on October 31, 2027, and a separate RSU grant of 2,334 vesting in full on October 31, 2028. The reporting person is part of a Schedule 13D group via a Stockholders Agreement, but the reported beneficial ownership excludes shares attributed solely due to that agreement.
Natural Grocers by Vitamin Cottage (NGVC) reported an insider equity change on a Form 4. On 11/03/2025, the reporting person acquired 2,000 shares of common stock at $0 upon vesting of restricted stock units (RSUs). To satisfy tax obligations tied to the vesting, 659 shares were withheld and cancelled at a value of $32.09 per share.
After these transactions, the reporting person directly holds 3,818 shares of common stock. Derivative holdings show 4,667 RSUs remaining outstanding, with footnotes indicating scheduled vesting tranches of 2,000 (on October 31, 2026), 1,500 (on October 31, 2027), and a separate RSU grant vesting in full on October 31, 2028. The remarks note participation in a Stockholders Agreement and a Schedule 13D group that beneficially owns more than 10% of NGVC, while the shares reported here exclude any deemed ownership from that agreement.