Company: NGVC
Filing Date: 2025-01-14
Form Type: PRE 14A
Source: 0001437749-25-001121
Chunk: 31

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-01-14
Form: PRE 14A
Chunk 31
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 and benefits program is designed to attract, retain, reward and create incentives for a highly talented and committed team of executive officers who share our vision and desire to work toward our goals.

Compensation decisions in fiscal 2024 regarding our NEOs were made by our compensation committee. Our compensation philosophy is to provide our NEOs with a compensation package that attracts, motivates and retains executive talent and aligns the interests of management with those of our stockholders. Our approach to executive compensation is intended to reward our NEOs for making strong individual contributions to our success and creating long-term value. Given that all of our NEOs other than Mr. Dissinger, our former Chief Financial Officer, are members of the Isely family and have a substantial ownership stake in the Company, we believe that our Co-Presidents and our Executive Vice Presidents have significant incentives to create shareholder value without participation in the Company’s equity incentive program. In consideration of each of their individual contributions to the Company’s strong financial and operating performance in fiscal 2024, Ms. Heather Isely, Ms. Elizabeth Isely and Mr. Dissinger were eligible to receive cash-based incentive compensation for fiscal 2024. See “—Primary elements of compensation; Compensation decisions for fiscal 2024” below for a discussion of the compensation committee’s compensation decisions for fiscal 2024.

Executive compensation process

Compensation‑setting process. During fiscal year 2024, our compensation committee did not engage an independent compensation consultant to conduct an executive compensation study. In advance of the next advisory vote to approve the compensation paid to our NEOs, the Company intends to engage an independent compensation consultant to conduct an executive compensation study.

Our compensation committee currently consists of Ms. Heather Isely, Mr. Kemper Isely, Mr. Cerkovnik and Ms. Buffa. Mr. Hallé served on our compensation committee prior to his resignation from the Board in October 2024. In addition to reviewing and approving executive compensation, our compensation committee’s duties include administering the 2012 Omnibus Incentive Plan, as amended (the “Omnibus Plan”), which we adopted in July 2012, as subsequently amended.

At our 2024 Annual Meeting of Stockholders, our stockholders approved, on an advisory basis, the compensation paid to our NEOs during fiscal 2023 and approved holding future advisory votes regarding the compensation paid to our NEOs every three years. Accordingly, we expect to hold an advisory vote on the compensation paid to our NEOs at our 202