Company: NGVC
Filing Date: 2025-12-11
Form Type: 10-K
Source: 0001437749-25-037556
Chunk: 722

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-12-11
Form: 10-K
Item: Item 13
Chunk 722
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 Sarbanes-Oxley Act of 2002†

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			97.1

			Incentive Compensation Recoupment Policy

			Form 10-K

			001-35608

			97

			December 7, 2023

			101
			 
			The following materials from Natural Grocers by Vitamin Cottage, Inc.’s Annual Report on Form 10-K for the year ended September 30, 2025, formatted in Inline XBRL (eXtensible Business Reporting Language): (i) Consolidated Balance Sheets, (ii) Consolidated Statements of Income, (iii) Consolidated Statements of Cash Flows, (iv) Consolidated Statements of Changes in Stockholders’ Equity, and (v) Notes to Consolidated Financial Statements.

			104
			 
			Cover Page Interactive Data File (embedded within the Inline XBRL and contained in Exhibit 101)

			* Indicates a management contract or compensatory plan or arrangement.

			# Confidential portions have been omitted.

			† The certifications attached as Exhibit 32.1 that accompany this Annual Report on Form 10-K, are not deemed filed with the Securities and Exchange Commission and are not to be incorporated by reference into any filing of Natural Grocers by Vitamin Cottage, Inc. under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether made before or after the date of this Form 10-K, irrespective of any general incorporation language contained in such filing.

85

Item 16. Form 10-K Summary

Not applicable.

86

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized on December 11, 2025.

			Natural Grocers by Vitamin Cottage, Inc.

			By:

			/s/ KEMPER ISELY

			Kemper Isely

			Chairman of the Board and Co-President

			(Principal Executive Officer)

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons in the capacities and on the dates indicated.

			Name

			Title

			Date

			/s/ K