Company: NGVC
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001437749-25-025419
Chunk: 14

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 14
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ed average number of shares of common stock outstanding

			22,951,339

			22,789,057

			22,930,084

			22,766,516

			Effect of dilutive securities

			360,596

			326,299

			317,232

			285,528

			Weighted average number of shares of common stock outstanding including effect of dilutive securities

			23,311,935

			23,115,356

			23,247,316

			23,052,044

			Basic earnings per share

			$
			0.51

			0.40

			1.51

			1.09

			Diluted earnings per share

			$
			0.50

			0.40

			1.49

			1.08

There were no and 13,000 non-vested RSUs for the three months ended June 30, 2025 and 2024, respectively, and 32,096 and 27,944 non-vested RSUs for the nine months ended June 30, 2025 and 2024, respectively, excluded from the calculation of diluted EPS as they were antidilutive.

10

5. Debt

Credit Facility

The Company is party to a credit facility originally entered into on January 28, 2016, as subsequently amended, consisting of a revolving loan facility and, prior to its repayment in September 2024, a $35.0 million term loan (the Term Loan, and, collectively, the Credit Facility). As of September 30, 2024, the Company had fully repaid all remaining amounts outstanding under the Term Loan. The operating company is the borrower under the Credit Facility and its obligations under the Credit Facility are guaranteed by the holding company and VC2. The Credit Facility is secured by a lien on substantially all of the Company’s assets. At June 30, 2025, the aggregate revolving commitment amount available under the Credit Facility was $72.5 million, including a $5.0 million sublimit for standby letters of credit. The Company has the right to borrow, prepay and re-borrow revolving amounts under the Credit Facility at any time prior to its maturity date without premium or penalty. The revolving commitments under the Credit Facility mature on November 16, 2028. Base rate loans under