Company: NGVC
Filing Date: 2025-12-11
Form Type: 10-K
Source: 0001437749-25-037556
Chunk: 335

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-12-11
Form: 10-K
Item: Item 2
Chunk 335
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 (the latest practical date for making the determination), the Company has not repurchased any additional shares of the Company’s common stock. The dollar value of the shares of the Company’s common stock that may yet be repurchased under the share repurchase program is $8.1 million.

The following table summarizes share repurchase activity for the years ended September 30, 2025, 2024 and 2023, dollars in thousands, except average price per common share acquired:

			Year Ended September 30,

			2025

			2024

			2023

			Number of common shares acquired

			—

			—

			17,998

			Average price per common share acquired (including commissions)

			$
			—

			—

			10.07

			Total cost of common shares acquired

			$
			—

			—

			181

During fiscal years 2024 and 2023, the Company reissued 6,497 and 11,501 treasury shares, respectively, each at a cost of $0.1 million, to satisfy the issuance of common stock pursuant to the vesting of certain restricted stock unit awards and the award of stock grants. At September 30, 2025 and 2024, the Company held no shares in treasury.

Dividends

The Company paid a quarterly cash dividend of $0.12, $0.10, and $0.10 per share of common stock in each quarter of fiscal years 2025, 2024 and 2023, respectively, and a special cash dividend of $1.00 per share of common stock in the first quarter of fiscal year 2024.

15. Related Party Transactions

The Company has ongoing relationships with related entities as noted below:

Chalet Properties, LLC: The Company has five operating leases (see Note 12) with Chalet. Chalet is owned by the Company’s four non-independent Board members, Kemper Isely, Zephyr Isely, Heather Isely and Elizabeth Isely, and other related family members. Rent paid to Chalet was $0.9 million for each of the years ended September 30, 2025, 2024 and 2023.

Isely Family Land Trust LLC: The Company has one operating lease (see Note 12) with the Land Trust. The Land Trust is owned by the Isely Children’s Trust and by the Margaret A. Isely Family Trust.