Sprouts Farmers Markets Inc.

09/22/2021 | Press release | Distributed by Public on 09/22/2021 15:17

Management Change/Compensation (Form 8-K)

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On August 31, 2021, Sprouts Farmers Market, Inc. (the "Company") reported the appointment of Lawrence "Chip" Molloy as the Company's Chief Financial Officer, pursuant to the terms of an offer letter dated August 31, 2021 (the "Offer Letter"). On September 19, 2021, as contemplated by the Offer Letter, the Company and Mr. Molloy entered into a severance agreement that entitles Mr. Molloy to certain benefits, including two years base salary and two years target bonus, in the event of a termination of employment in connection with a change in control of the Company or in the event of his involuntary termination.

In addition, on September 20, 2021 the Company and Mr. Molloy entered into a restricted stock unit grant agreement for the issuance of Mr. Molloy's sign-on equity grant contemplated by the Offer Letter.

The foregoing descriptions of the severance agreement and restricted stock unit grant agreement do not purport to be complete and are qualified in their entirety by reference to the complete text of the agreements, filed as Exhibits 10.1 and 10.2 to this Current Report on Form 8-K and incorporated herein by reference. The Offer Letter was filed as Exhibit 10.1 to the Company's Current Report on Form 8-K filed August 31, 2021.

Financial Statements and Exhibits.

(d) Exhibits





Severance Agreement, dated September 19, 2021, between Sprouts Farmers Market, Inc. and Lawrence "Chip" Molloy


2021 Form of Restricted Stock Unit Agreement under Sprouts Farmers Market, Inc. 2013 Incentive Plan for Chief Financial Officer


Cover Page Interactive Data File (embedded within the Inline XBRL document)