Company: NGVC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001437749-25-015486
Chunk: 15

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 15
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 shares of common stock outstanding

			22,935,698

			22,759,131

			22,919,457

			22,755,307

			Effect of dilutive securities

			338,002

			301,988

			296,176

			260,535

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

			23,273,700

			23,061,119

			23,215,633

			23,015,842

			Basic earnings per share

			$
			0.57

			0.35

			1.01

			0.69

			Diluted earnings per share

			$
			0.56

			0.35

			0.99

			0.68

There were 32,096 and 14,944 non-vested RSUs for the three months ended March 31, 2025 and 2024, respectively, and 32,096 and 145,805 non-vested RSUs for the six months ended March 31, 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 March 31, 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 the