Sandra Buffa - 04 Mar 2026 Form 4 Insider Report for Natural Grocers by Vitamin Cottage, Inc. (NGVC)

Role: Director
Signature: /s/ Kemper Isely, by Power of Attorney
Issuer symbol: NGVC
Transactions as of: 04 Mar 2026
Net transactions value: $0
Form type: 4
Filing time: 06 Mar 2026, 17:00:25 UTC
Previous filing: 07 Mar 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Buffa Sandra	Director	C/O NATURAL GROCERS BY VITAMIN COTTAGE, 12612 WEST ALAMEDA PARKWAY, LAKEWOOD	/s/ Kemper Isely, by Power of Attorney	06 Mar 2026	0001552608

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NGVC	Common Stock	Options Exercise		+1,532	+13%	$0.000000^*	13,551	05 Mar 2026	Direct	F1

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					3,785	04 Mar 2026	Common Stock	2,253		Direct	F2, F3
transaction	NGVC	Restricted Stock Units	Options Exercise					2,253	05 Mar 2026	Common Stock	1,532		Direct	F2

* 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 1,532 restricted stock units on March 5, 2026, where each restricted stock unit represented the economic equivalent of one share of NGVC common stock.
F2	Each restricted stock unit represents a contingent right to receive one share of NGVC common stock.
F3	Represents restricted stock units issued to the reporting person for service on the Company's board of directors (the "Board"). The restricted stock units will vest on March 4, 2027, subject to continued service, and will be settled in shares of NGVC common stock.