Dan J. Sanders - Mar 9, 2023 Form 4 Insider Report for Sprouts Farmers Market, Inc. (SFM)

Signature
/s/ Brandon F. Lombardi, Attorney-in-Fact for Dan J. Sanders
Stock symbol
SFM
Transactions as of
Mar 9, 2023
Transactions value $
-$280,230
Form type
4
Date filed
3/10/2023, 07:00 PM
Previous filing
Aug 10, 2022
Next filing
Mar 15, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SFM Common Stock, par value $0.001 per share Award $0 +28.1K +287.07% $0.00 37.9K Mar 9, 2023 Direct F1
transaction SFM Common Stock, par value $0.001 per share Sale -$280K -8.53K -22.52% $32.85 29.4K Mar 10, 2023 Direct F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On March 9, 2020, the reporting person was granted performance share awards covering 14,048 shares of the Issuer's common stock at the target performance level, zero to 200% of which would become eligible to vest based on the achievement of 2022 performance goals as certified by the Issuer's compensation committee. Following certification of achievement of the performance criteria for fiscal 2022 by the Issuer's compensation committee at the 200% performance level, 28,096 shares vested on March 9, 2023.
F2 This transaction was a broker-assisted sale of shares of common stock to satisfy the withholding tax liability incurred upon the vesting of restricted stock units and performance share awards, as mandated by the Issuer's election under its equity incentive plan documents, and does not represent a discretionary trade by the reporting person.
F3 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $32.84 to $33.435 per share, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F4 Includes 21,906 shares of common stock and 7,446 restricted stock units. Each restricted stock unit represents the right to receive, upon vesting, one share of common stock. 3,431 restricted stock units will vest evenly over two years on March 16, 2023 and March 16, 2024 and 4,015 restricted stock units will vest evenly over three years on March 15, 2023, March 15, 2024 and March 15, 2025. All such vests assume continued employment through the applicable dates.