SEC Form 4 · accession 0001020859-17-000119
UNITED NATURAL FOODS INC · UNFI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Sean Griffin
Officer — Chief Operating Officer
Period of report
Sep 25, 2017
Accepted (ET)
Sep 27, 2017 · 6:44 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001020859
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Sep 25, 2017 | S | 6,521 | $44.60 | D | 0 | D | |
| Common StockF3 | Sep 26, 2017 | A | 4,914 | $0.00 | A | 4,914 | D | |
| Common StockF3 | Sep 26, 2017 | A | 18,811 | $0.00 | A | 23,725 | D | |
| Common Stock | Sep 26, 2017 | F | 11,374 | $44.39 | D | 12,351 | D | |
| Common StockF6 | holding | — | — | — | 1,632 | I | See footnote |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The transaction price listed is a weighted average. Actual sale prices for these dispositions ranged from $44.50 to $44.78. The reporting person undertakes to provide United Natural Foods, Inc., any security holder of United Natural Foods, Inc., 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 ranges set forth in this footnote.
- F2On September 21, 2016, the reporting person was granted 4,890 performance units eligible to vest at target levels of performance (with vesting of more or less shares possible based on actual performance) based on the extent to which certain EPS, Adjusted EBITDA, Adjusted ROIC and total shareholder return performance targets were met for fiscal 2017. Based upon the performance of United Natural Foods, Inc. (the "Company") against the applicable performance targets, 4,914 performance units subject to such criteria vested on September 26, 2017, resulting in the issuance of 4,914 shares of the Company's common stock to the reporting person.
- F3Performance stock units were settled in shares of common stock on a one-for-one basis. Accordingly, there was no purchase price paid by the reporting person.
- F4On October 27, 2016, the reporting person was granted 17,500 performance units eligible to vest at target level of performance (with vesting of more or less shares possible based on actual performance) based on the extent to which certain EPS, Net Sales and Adjusted EBITDA performance targets were met for fiscal 2017. Based upon the Company's performance against the applicable performance targets, 18,811 performance units subject to such criteria vested on September 26, 2017, resulting in the issuance of 18,811 shares of the Company's common stock to the reporting person.
- F5As described in footnotes 2 and 4, on September 26, 2017, the reporting person became entitled to received 23,725 shares of the Company's common stock. The Company retained 11,374 shares on that date to satisfy certain tax withholding obligations in connection with these vestings.
- F6Includes 1,632 shares of common stock allocated to the reporting person under the United Natural Foods, Inc. 401(k) Plan's UNFI Stock Fund as of September 27, 2017.