Sprouts Farmers Market, Inc. (NASDAQ:SFM) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02.
Departure of Directors or Certain Officers; Election of |
On November 14, 2016, J. Douglas Sanders notified Sprouts Farmers
Market, Inc. (the Company) that he is resigning from his role as
Executive Chairman of the Board of Directors (the Board) to focus
his efforts on his recent appointment as chief executive officer
of a technology company, effective at the Boards forthcoming
scheduled meeting on February 20, 2017.Mr. Sanderss resignation,
which was accepted by the Board, was not the result of any
disagreement with the Company or the Board, and the Company
thanks Mr. Sanders for his many years of service to the
Company.In accordance with the letter agreement between the
Company and Mr. Sanders, dated August 6, 2015 and previously
filed with the Securities and Exchange Commission, Mr. Sanders
will receive certain payments beginning upon the effective date
of his resignation in February 2017. Mr. Sanders will receive
approximately $3 million, payable over a two-year period.
In order to fill the vacancy of the Chairperson of the Board
position created by the forthcoming resignation of Mr. Sanders,
the Board has appointed Joseph Fortunato, a current independent
member of the Board, as non-executive Chairman of the Board,
effective upon the resignation of Mr. Sanders on February 20,
2017.
A press release discussing these matters is furnished as Exhibit
99.1 to this Current Report on Form 8-K.
Item 9.01. |
Financial Statements and Exhibits. |
(d)Exhibits
Exhibit Number |
Description |
|
99.1 |
Press release of Sprouts Farmers Market, Inc., dated |
About Sprouts Farmers Market, Inc. (NASDAQ:SFM)
Sprouts Farmers Market, Inc. is a food retailer that offers natural and organic food, including produce, bulk foods, meat and seafood, bakery, dairy, frozen foods, body care and natural household items. The Company categorizes its products as perishable and non-perishable. Its perishable product category includes produce, meat, seafood, deli and bakery. Its non-perishable product category includes grocery, vitamins and supplements, bulk items, dairy and dairy alternatives, frozen foods, beer and wine, and body care and natural household items. Its bakery offering includes sandwich breads, rolls, tortillas, pitas, muffins, cookies and pies. It offers facial care products and make up, skin, hair, dental, baby care and grooming products. It offers a selection of craft beers, microbrews and beers, as well as a range of domestic and international wines. It also carries various sausages made in-store, as well as a selection of entrees, including gourmet burgers, pork chops and roasts. Sprouts Farmers Market, Inc. (NASDAQ:SFM) Recent Trading Information
Sprouts Farmers Market, Inc. (NASDAQ:SFM) closed its last trading session down -0.45 at 21.79 with 2,454,195 shares trading hands.