Company: NGVC
Filing Date: 2025-01-14
Form Type: PRE 14A
Source: 0001437749-25-001121
Chunk: 40

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-01-14
Form: PRE 14A
Chunk 40
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 |       — |     | $       |       — |     | $          |       — |   |
| Add: Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year |     | $           |       — |     | $       |       — |     | $          |   186,711 |     | $           |       — |     | $       |       — |     | $          |    (3,540 | ) | $           |       — |     | $       |       — |     | $          |  20,628 |   |
| Subtract: Fair Value as of Prior Fiscal Year-End of Option Awards and Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year  |     | $           |       — |     | $       |       — |     | $          |         — |     | $           |       — |     | $       |       — |     | $          |         — |   | $           |       — |     | $       |       — |     | $          |       — |   |
| Add: Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation                                                   |     | $           |       — |     | $       |       — |     | $          |         — |     | $           |       — |     | $       |       — |     | $          |         — |   | $           |       — |     | $       |       — |     | $          |       — |   |
| CAP Amounts (as calculated)                                                                                                                                                            |     | $           | 638,021 |     | $       | 593,159 |     | $          | 1,465,114 |     | $           | 625,462 |     | $       | 581,044 |     | $          | 1,064,381 |   | $           | 623,107 |     | $       | 580,378 |     | $          | 903,287 |   |

<div align='center'>25</div>

Relationship Between CAP Amounts and Performance Measures

The following charts show graphically the relationships over the past three fiscal years of the CAP Amounts for our PEOs and Other NEOs as compared