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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) August 1, 2023
Sprouts Farmers Market, Inc.
(Exact name of registrant as specified in its charter)
Delaware |
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001-36029 |
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32-0331600 |
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(State or other jurisdiction of incorporation or organization) |
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(Commission File Number) |
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(I.R.S. Employer Identification No.) |
5455 E. High Street, Suite 111
Phoenix, Arizona 85054
(Address of principal executive offices and zip code)
(480) 814-8016
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class |
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Trading Symbol(s) |
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Name of Each Exchange on Which Registered |
Common Stock, $0.001 par value |
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SFM |
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NASDAQ Global Select Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.
On August 1, 2023, Lawrence (“Chip”) P. Molloy, Chief Financial Officer (principal financial officer) of Sprouts Farmers Market, Inc. (the “Company”), notified the Company that he intends to retire from the Company effective on or about December 31, 2023.
On August 1, 2023, the Company issued a press release announcing Mr. Molloy’s retirement. A copy of the press release is furnished as Exhibit 99.1 to this Form 8-K.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
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Exhibit Number |
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Description |
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99.1 |
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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SPROUTS FARMERS MARKET, INC. |
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Date: August 1, 2023 |
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By: |
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/s/ Brandon F. Lombardi |
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Name: |
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Brandon F. Lombardi |
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Title: |
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Chief Legal Officer and Corporate Secretary |
Exhibit 99.1
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Investor Contact: |
Media Contact: |
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Susannah Livingston |
media@sprouts.com |
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(602) 682-1584 |
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susannahlivingston@sprouts.com |
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Sprouts Farmers Market, Inc. Announces Retirement of Lawrence (“Chip”) Molloy as Chief Financial Officer
PHOENIX, Ariz. – (Business Wire) – August 1, 2023 – Sprouts Farmers Market, Inc. (Nasdaq: SFM) today announced that Lawrence (“Chip”) P. Molloy, chief financial officer, will retire at the end of 2023.
“On behalf of the entire Sprouts community, I want to extend our deepest thanks to Chip for his many years of leadership and dedication to our company,” said Jack Sinclair, chief executive officer of Sprouts Farmers Market. “Chip played an integral role in Sprouts’ development into a national brand and helped to usher in our long-term growth strategy. We are grateful for Chip’s many contributions to Sprouts’ long-term success and wish him well in his retirement.”
Molloy joined Sprouts in 2013 as a member of its Board of Directors, and served as its interim chief financial officer from June 2019 to February 2020. Mr. Molloy continued to serve on Sprouts’ board prior to his appointment as its chief financial officer in September 2021.
“It’s an honor to have been a part of Sprouts’ board and executive leadership team,” said Molloy. “I’m proud of our significant growth over the past 10 years and the strategic changes we’ve made to mature into a financially robust company that’s delivered value to its shareholders. Next year, I’ll be cheering on Sprouts from the sidelines, and I wish the team continued success.”
Sprouts will conduct an internal and external search for a successor to Molloy.
Corporate Profile
True to its farm-stand heritage, Sprouts offers a unique grocery experience featuring an open layout with fresh produce at the heart of the store. Sprouts inspires wellness naturally with a carefully curated assortment of better-for-you products paired with purpose-driven people. The healthy grocer continues to bring the latest in wholesome, innovative products made with lifestyle-friendly ingredients such as organic, plant-based and gluten-free. Headquartered in Phoenix, and one of the largest and fastest growing specialty retailers of fresh, natural and organic food in the United States, Sprouts employs approximately 31,000 team members and operates more than 390 stores in 23 states nationwide. To learn more about Sprouts, and the good it brings communities, visit about.sprouts.com.
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Source: Sprouts Farmers Market, Inc
Phoenix, AZ
8/1/23