Company: NGVC
Filing Date: 2025-01-14
Form Type: PRE 14A
Source: 0001437749-25-001121
Chunk: 47

Company: Natural Grocers by Vitamin Cottage, Inc.
Filing Date: 2025-01-14
Form: PRE 14A
Chunk 47
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. Elizabeth Isely, along with several other related family members (the “FTVC Lease”). We believe that the Operating Company’s leases with related parties as described in this paragraph, which our audit committee reviewed and approved in accordance with our policies and procedures for related party transactions, generally reflect the prevailing market lease terms and rental rates at the time the Operating Company entered into them.

The following table presents the amounts paid by us under the lease agreements described above for fiscal 2024.

|                                        | Fiscal year ended  
 September 30, 2024 |
|:---------------------------------------|:-------------------|
| Amount paid under the Land Trust Lease | $0.3 million       |
| Amount paid under the Chalet Leases    | $0.9 million       |
| Amount paid under the FTVC Lease       | $0.1 million       |

Additional Related Party Transactions

Lucas Isely, the Operating Company’s Vice President of Facilities, is the son of Ms. Elizabeth Isely, an Executive Vice President of the Company. In fiscal 2024, Mr. Lucas Isely earned total compensation of approximately $273,000. In October 2024, he received a restricted stock unit award with an aggregate value of approximately $82,000. Ms. Raquel Isely, the Operating Company’s Vice President of Marketing, is the daughter of Mr. Kemper Isely, a Co-President of the Company, and a party to the Stockholders Agreement. In fiscal 2024, Ms. Raquel Isely earned total compensation of approximately $295,000. In October 2024, she received a restricted stock unit award with an aggregate value of approximately $82,000. Ms. Charity Isely, the Operating Company’s Nutrition Education Writer, is the niece of Messrs. Kemper and Zephyr Isely, Co-Presidents of the Company, and Ms. Heather Isely, an Executive Vice President of the Company, all of whom are parties to the Stockholders Agreement. In fiscal 2024, Ms. Charity Isely earned total compensation of approximately $112,000. In October 2024, she received a restricted stock unit award with an aggregate value of approximately $41,000. Mr. Robert Linnane, the Operating Company’s Director of Store Construction, is the son-in-law of Kemper Isely, a Co-President of the Company, and a party to the Stockholders Agreement. In fiscal 2024, Mr. Linnane earned total compensation of approximately $139