Company: NGVC
Filing Date: 2025-01-24
Form Type: DEF 14A
Source: 0001437749-25-001800
Chunk: 6

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-01-24
Form: DEF 14A
Chunk 6
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 will not be paid any additional compensation for soliciting proxies. We may also reimburse brokerage firms, banks and other agents for the cost of forwarding proxy materials to beneficial owners.

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How many shares must be present at the Annual Meeting?

The representation in person or by proxy of the holders of at least a majority of the voting power of the outstanding shares of Common Stock entitled to vote on the business properly brought before the Annual Meeting is necessary to constitute a quorum for the transaction of business. Abstentions and broker “non-votes” are counted as present or represented for purposes of determining the presence or absence of a quorum for the Annual Meeting. A broker “non-vote” occurs when the entity holding shares in street name has not received voting instructions from the beneficial owner and either chooses not to vote those shares on a routine matter at the stockholders meeting or is not permitted to vote those shares on a non-routine matter.

How many votes are required to approve each proposal?

For Proposal 1, the election of a Class I director, directors are elected by a plurality of the votes cast, either in person or represented by proxy. Therefore, the Class I director nominee will be elected as a director if she receives an affirmative vote. Cumulative voting by stockholders is not permitted in the election of directors.

For Proposal 2, the ratification of the appointment of KPMG LLP as the Company’s independent registered public accounting firm for the fiscal year ending September 30, 2025 (“fiscal 2025”), the affirmative vote of a majority of the shares present, in person or represented by proxy, and voting on such matter is required for approval. While we are seeking stockholder approval as a matter of good corporate governance, we are not required to do so. If the appointment of KPMG LLP as our independent registered public accounting firm for fiscal 2025 is not ratified by the stockholders, our audit committee will consider the adverse vote as direction to consider appointing another independent registered public accounting firm for the next fiscal year. However, because of the difficulty in making any change in our independent registered public accounting firm so long after the beginning of the current fiscal year, the appointment for fiscal 2025 will stand unless the audit committee finds other good reason for making a change.

For Proposal 3, the vote to approve an amendment to our Certificate of Incorporation to limit the liability of certain officers of the Company as permitted by amendments to Delaware law, the affirmative vote of the holders