Todd Dissinger - Sep 30, 2022 Form 4 Insider Report for Natural Grocers by Vitamin Cottage, Inc. (NGVC)

Role
Chief Financial Officer
Signature
/s/ Todd Dissinger
Stock symbol
NGVC
Transactions as of
Sep 30, 2022
Transactions value $
-$10,973
Form type
4
Date filed
10/4/2022, 06:01 PM
Previous filing
Jun 29, 2022
Next filing
Nov 3, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NGVC Common Stock Options Exercise $0 +3.52K +7.69% $0.00 49.3K Oct 3, 2022 Direct F1
transaction NGVC Common Stock Tax liability -$11K -1.02K -2.06% $10.79 48.3K Oct 3, 2022 Direct F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction NGVC Restricted Stock Units Award $0 +31.9K +57.84% $0.00 87K Sep 30, 2022 Common Stock 31.9K $0.00 Direct F3, F4
transaction NGVC Restricted Stock Units Options Exercise $0 -3.52K -4.05% $0.00 83.5K Oct 3, 2022 Common Stock 3.52K $0.00 Direct F3, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares of NGVC common stock issued to the reporting person upon the vesting of 3,520 restricted stock units on October 3, 2022, the business day immediately following the vesting date of October 1, 2022, where each restricted stock unit represented the economic equivalent of one share of NGVC common stock.
F2 Exempt transaction pursuant to Section 16b-3(e) - payment of exercise price or tax liability by delivering or withholding securities incident to the receipt, exercise or vesting of a security issued in accordance with Rule 16b-3. All of the shares reported as disposed of on this line were relinquished by the Reporting Person and cancelled by the Issuer in exchange for the Issuer's agreement to pay federal and state tax withholding obligations of the Reporting Person resulting from the vesting of the restricted stock units.
F3 Each restricted stock unit represents a contingent right to receive one share of NGVC common stock.
F4 These restricted stock units will vest in full on December 31, 2024.
F5 In addition to the transactions reported on this Form 4, includes: (a) 1,620 restricted stock units vesting on November 1, 2022; (b) 12,014 restricted stock units vesting on January 2, 2023; provided, however, that all the restricted stock units in this clause (b) that are unvested will become fully vested upon the occurrence of a change in control affecting the Company; (c) 4,000 restricted stock units vesting on June 27, 2023; (d) 1,600 restricted stock units vesting on each of October 1, 2023 and 2024; (e) 1,920 restricted stock units vesting on each of October 1, 2023, 2024 and 2025; and (f) 25,000 restricted stock units vesting on September 30, 2024.