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At Natural Grocers by Vitamin Cottage, Inc.'s shareholder meeting held March 4, 2026, in the 2025-2026 proxy season, 59 asset managers reported how they voted on 4 ballot items in their SEC Form N-PX filings, covering 617 separate fund positions. On the most widely held item on that ballot — Election of Directors: David Rooney — FOR was 86% of the votes cast (FOR divided by FOR plus WITHHELD, because this ballot offered only for and withhold; abstentions, broker non-votes and unvoted shares are excluded because none of them took a side), which is more than half. Whether the item was approved is for the filing to say; that statement has not been read for this item. Source: Natural Grocers by Vitamin Cottage, Inc.'s Form 8-K, Item 5.07, filed with the U.S. Securities and Exchange Commission on March 10, 2026.
Download data (CSV): ballot items · votes by manager · column guide.
Compiled from SEC Form N-PX filings and Natural Grocers by Vitamin Cottage, Inc.’s Form 8-K, filed March 10, 2026 (Item 5.07 on EDGAR). Page generated November 8, 2026.
Meeting of March 4, 2026: 4 items on Natural Grocers by Vitamin Cottage, Inc.’s Form 8-K, filed March 10, 2026: 1 approved · 3 without a stated outcome.
None.
Material dissent: a director nominee under 80% of the votes cast, say-on-pay under 70%, any other item the board put forward under 80%, or a shareholder proposal with more than 50%, on the company’s own Form 8-K tally. How this is decided
Explore Natural Grocers by Vitamin Cottage, Inc. in the interactive database Compare manager voting policies
These tallies are Natural Grocers by Vitamin Cottage, Inc.’s own, as disclosed to the U.S. Securities and Exchange Commission on Form 8-K, filed March 10, 2026 (Item 5.07, “Submission of Matters to a Vote of Security Holders”). They cover every share voted at the meeting, not just the funds that file Form N-PX.
| Ballot item | For | Against | Abstain | Withheld | Broker non-votes | Support (of votes cast) | Reported outcome | Voting standard |
|---|---|---|---|---|---|---|---|---|
| Elect Director: Zephyr Isely | 16,026,727 | -- | -- | 3,521,239 | 1,719,558 | 82% | Not verified | — |
| Elect Director: David Rooney | 16,760,662 | -- | -- | 2,787,304 | 1,719,558 | 86% | Not verified | — |
| Elect Director: Sandra Buffa | 17,466,551 | -- | -- | 2,081,415 | 1,719,558 | 89% | Not verified | — |
| 2. To ratify the appointment of KPMG LLP ("KPMG") as the Company's independent registered public accounting firm for the fiscal year ending September 30, 2026 ("Proposal No. 2") | 21,071,794 | 131,811 | 63,919 | -- | -- | 99.3% | Approved | — |
Source: Natural Grocers by Vitamin Cottage, Inc., Form 8-K, filed with the SEC on March 10, 2026 — read the filing on EDGAR.
Each item below shows how the 59 asset managers that disclosed a Natural Grocers by Vitamin Cottage, Inc. vote in their SEC Form N-PX filings actually voted. Share totals are the shares those managers' funds voted, summed across every fund they report.
Combines 3 wordings of this item as funds reported it.
86% Majority: yes · of votes cast
Description as filed by funds: Election of Directors: David Rooney
Natural Grocers by Vitamin Cottage, Inc.’s own tally for this item (“Elect Director: David Rooney”): 16,760,662 for, 2,787,304 withheld, per its Form 8-K filed March 10, 2026 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.
Reported outcome: not verified — the filing’s own statement of the outcome could not be identified for this item.
Support: 86% of votes cast — FOR ÷ (FOR + WITHHELD); abstentions and broker non-votes are excluded.
The 59 asset managers below reported 1,236,190 for, 1,732,117 withheld.
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 0 | 0 | 0 | 797,392 | Withhold |
| American Century | 492,344 | 0 | 0 | 0 | For |
| BlackRock | 0 | 0 | 0 | 483,091 | Withhold |
| Fidelity | 233,846 | 0 | 0 | 79,361 | Mixed |
| Dimensional | 0 | 0 | 0 | 226,923 | Withhold |
| WisdomTree | 136,434 | 0 | 0 | 0 | For |
| Charles Schwab | 93,366 | 0 | 0 | 0 | For |
| Victory Capital | 41,236 | 0 | 0 | 0 | For |
| JPMorgan | 37,940 | 0 | 0 | 0 | For |
| Equitable | 10,850 | 0 | 0 | 22,497 | Mixed |
| Ultimus Managers Trust | 0 | 0 | 0 | 27,624 | Withhold |
| TIAA | 0 | 0 | 0 | 27,582 | Withhold |
| Goldman Sachs | 26,896 | 0 | 0 | 0 | For |
| QUANTITATIVE MASTER SERIES LLC | 0 | 0 | 0 | 22,119 | Withhold |
| Northern Lights Fund Trust IV | 18,697 | 0 | 0 | 0 | For |
| Invesco | 18,245 | 0 | 0 | 0 | For |
| Lincoln Financial | 9,389 | 0 | 0 | 5,585 | Mixed |
| Investment Managers Series Trust II | 14,953 | 0 | 0 | 0 | For |
| Pacific Life | 9,792 | 0 | 0 | 4,256 | Mixed |
| NORTHERN LIGHTS FUND TRUST III | 12,308 | 0 | 0 | 0 | For |
| Global X | 12,258 | 0 | 0 | 0 | For |
| TETON WESTWOOD FUNDS | 10,000 | 0 | 0 | 0 | For |
| Northern Trust | 8,974 | 0 | 0 | 0 | For |
| SEI | 8,892 | 0 | 0 | 0 | For |
| Jackson National | 0 | 0 | 0 | 7,493 | Withhold |
Showing the 25 largest of 59 asset managers. All 59 are in the interactive database (link above).
Combines 3 wordings of this item as funds reported it.
89% Majority: yes · of votes cast
Description as filed by funds: Election of Directors: Sandra Buffa
Natural Grocers by Vitamin Cottage, Inc.’s own tally for this item (“Elect Director: Sandra Buffa”): 17,466,551 for, 2,081,415 withheld, per its Form 8-K filed March 10, 2026 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.
Reported outcome: not verified — the filing’s own statement of the outcome could not be identified for this item.
Support: 89% of votes cast — FOR ÷ (FOR + WITHHELD); abstentions and broker non-votes are excluded.
The 59 asset managers below reported 1,811,257 for, 1,157,050 withheld.
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 0 | 0 | 0 | 797,392 | Withhold |
| American Century | 492,344 | 0 | 0 | 0 | For |
| BlackRock | 483,091 | 0 | 0 | 0 | For |
| Fidelity | 250,289 | 0 | 0 | 62,918 | Mixed |
| Dimensional | 0 | 0 | 0 | 226,923 | Withhold |
| WisdomTree | 136,434 | 0 | 0 | 0 | For |
| Charles Schwab | 93,366 | 0 | 0 | 0 | For |
| Victory Capital | 41,236 | 0 | 0 | 0 | For |
| JPMorgan | 37,940 | 0 | 0 | 0 | For |
| Equitable | 33,347 | 0 | 0 | 0 | For |
| Ultimus Managers Trust | 27,624 | 0 | 0 | 0 | For |
| TIAA | 0 | 0 | 0 | 27,582 | Withhold |
| Goldman Sachs | 26,896 | 0 | 0 | 0 | For |
| QUANTITATIVE MASTER SERIES LLC | 22,119 | 0 | 0 | 0 | For |
| Northern Lights Fund Trust IV | 18,697 | 0 | 0 | 0 | For |
| Invesco | 18,245 | 0 | 0 | 0 | For |
| Lincoln Financial | 0 | 0 | 0 | 14,974 | Withhold |
| Investment Managers Series Trust II | 14,953 | 0 | 0 | 0 | For |
| Pacific Life | 14,048 | 0 | 0 | 0 | For |
| NORTHERN LIGHTS FUND TRUST III | 12,308 | 0 | 0 | 0 | For |
| Global X | 12,258 | 0 | 0 | 0 | For |
| TETON WESTWOOD FUNDS | 10,000 | 0 | 0 | 0 | For |
| Northern Trust | 8,974 | 0 | 0 | 0 | For |
| SEI | 8,892 | 0 | 0 | 0 | For |
| Jackson National | 0 | 0 | 0 | 7,493 | Withhold |
Showing the 25 largest of 59 asset managers. All 59 are in the interactive database (link above).
Combines 3 wordings of this item as funds reported it.
82% Majority: yes · of votes cast
Description as filed by funds: Election of Directors: Zephyr Isely
Natural Grocers by Vitamin Cottage, Inc.’s own tally for this item (“Elect Director: Zephyr Isely”): 16,026,727 for, 3,521,239 withheld, per its Form 8-K filed March 10, 2026 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.
Reported outcome: not verified — the filing’s own statement of the outcome could not be identified for this item.
Support: 82% of votes cast — FOR ÷ (FOR + WITHHELD); abstentions and broker non-votes are excluded.
The 59 asset managers below reported 1,190,501 for, 1,777,806 withheld.
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 0 | 0 | 0 | 797,392 | Withhold |
| American Century | 0 | 0 | 0 | 492,344 | Withhold |
| BlackRock | 483,091 | 0 | 0 | 0 | For |
| Fidelity | 250,289 | 0 | 0 | 62,918 | Mixed |
| Dimensional | 0 | 0 | 0 | 226,923 | Withhold |
| WisdomTree | 136,434 | 0 | 0 | 0 | For |
| Charles Schwab | 93,366 | 0 | 0 | 0 | For |
| Victory Capital | 0 | 0 | 0 | 41,236 | Withhold |
| JPMorgan | 37,940 | 0 | 0 | 0 | For |
| Equitable | 33,347 | 0 | 0 | 0 | For |
| Ultimus Managers Trust | 0 | 0 | 0 | 27,624 | Withhold |
| TIAA | 0 | 0 | 0 | 27,582 | Withhold |
| Goldman Sachs | 26,896 | 0 | 0 | 0 | For |
| QUANTITATIVE MASTER SERIES LLC | 22,119 | 0 | 0 | 0 | For |
| Northern Lights Fund Trust IV | 18,697 | 0 | 0 | 0 | For |
| Invesco | 0 | 0 | 0 | 18,245 | Withhold |
| Lincoln Financial | 9,389 | 0 | 0 | 5,585 | Mixed |
| Investment Managers Series Trust II | 14,953 | 0 | 0 | 0 | For |
| Pacific Life | 4,256 | 0 | 0 | 9,792 | Mixed |
| NORTHERN LIGHTS FUND TRUST III | 0 | 0 | 0 | 12,308 | Withhold |
| Global X | 12,258 | 0 | 0 | 0 | For |
| TETON WESTWOOD FUNDS | 10,000 | 0 | 0 | 0 | For |
| Northern Trust | 8,974 | 0 | 0 | 0 | For |
| SEI | 8,892 | 0 | 0 | 0 | For |
| Jackson National | 0 | 0 | 0 | 7,493 | Withhold |
Showing the 25 largest of 59 asset managers. All 59 are in the interactive database (link above).
Combines 2 wordings of this item as funds reported it.
99.3% Approved · of votes cast
Description as filed by funds: TO RATIFY THE APPOINTMENT OF KPMG LLP AS THE COMPANY'S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING SEPTEMBER 30, 2026.
Natural Grocers by Vitamin Cottage, Inc.’s own tally for this item (“2. To ratify the appointment of KPMG LLP ("KPMG") as the Company's independent registered public accounting firm for the fiscal year ending September 30, 2026 ("Proposal No. 2")”): 21,071,794 for, 131,811 against — passed, per its Form 8-K filed March 10, 2026 (Item 5.07).
Reported outcome: Approved, in the filing’s own words: “The Company's stockholders approved Proposal No. 2.”
Support: 99.3% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.
The 59 asset managers below reported 2,937,916 for, 27,945 against, 2,446 abstained.
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 797,392 | 0 | 0 | 0 | For |
| American Century | 492,344 | 0 | 0 | 0 | For |
| BlackRock | 483,091 | 0 | 0 | 0 | For |
| Fidelity | 313,207 | 0 | 0 | 0 | For |
| Dimensional | 226,923 | 0 | 0 | 0 | For |
| WisdomTree | 136,434 | 0 | 0 | 0 | For |
| Charles Schwab | 93,366 | 0 | 0 | 0 | For |
| Victory Capital | 41,236 | 0 | 0 | 0 | For |
| JPMorgan | 37,940 | 0 | 0 | 0 | For |
| Equitable | 33,347 | 0 | 0 | 0 | For |
| Ultimus Managers Trust | 0 | 27,624 | 0 | 0 | Against |
| TIAA | 27,582 | 0 | 0 | 0 | For |
| Goldman Sachs | 26,896 | 0 | 0 | 0 | For |
| QUANTITATIVE MASTER SERIES LLC | 22,119 | 0 | 0 | 0 | For |
| Northern Lights Fund Trust IV | 18,697 | 0 | 0 | 0 | For |
| Invesco | 18,245 | 0 | 0 | 0 | For |
| Lincoln Financial | 14,974 | 0 | 0 | 0 | For |
| Investment Managers Series Trust II | 14,953 | 0 | 0 | 0 | For |
| Pacific Life | 14,048 | 0 | 0 | 0 | For |
| NORTHERN LIGHTS FUND TRUST III | 12,308 | 0 | 0 | 0 | For |
| Global X | 12,258 | 0 | 0 | 0 | For |
| TETON WESTWOOD FUNDS | 10,000 | 0 | 0 | 0 | For |
| Northern Trust | 8,974 | 0 | 0 | 0 | For |
| SEI | 8,571 | 321 | 0 | 0 | For |
| Jackson National | 7,493 | 0 | 0 | 0 | For |
Showing the 25 largest of 59 asset managers. All 59 are in the interactive database (link above).
Ranked separately for each type of Form N-PX report. An institutional manager can report shares that a fund it advises also reports, so the two tables can list the same shares and are never added together. Each is ranked by the shares voted on the item that the most managers of that type reported, shown as a share of the 23,033,093 shares outstanding at the time of that meeting.
| # | Asset manager | % of shares outstanding |
|---|---|---|
| 1 | Vanguard | 3.46% |
| 2 | American Century | 2.14% |
| 3 | BlackRock | 2.10% |
| 4 | Fidelity | 1.36% |
| 5 | Dimensional | 0.99% |
| 6 | WisdomTree | 0.59% |
| 7 | Charles Schwab | 0.41% |
| 8 | Victory Capital | 0.18% |
| 9 | JPMorgan | 0.16% |
| 10 | Equitable | 0.14% |
As disclosed to the SEC in Form 13F (quarter-end holdings of 30 large managers), Schedules 13D and 13G (beneficial ownership above 5%) and the company’s own proxy statement (DEF 14A). Each row names its form.
| Holder | % outstanding | Disclosure |
|---|---|---|
| BlackRock | 4.02% | 13F |
| Vanguard Group | 3.87% | 13F |
| Dimensional Fund Advisors | 2.80% | 13F |
| Two Sigma | 1.77% | 13F |
| Renaissance Technologies | 1.42% | 13F |
| Wellington Management | 1.23% | 13F |
| Geode Capital | 1.21% | 13F |
| State Street | 1.18% | 13F |
| Millennium Management | 0.90% | 13F |
| Morgan Stanley | 0.88% | 13F |
Percentages above are of 23,033,093 shares outstanding, as reported by Natural Grocers by Vitamin Cottage, Inc. on its Form 10-Q dated February 2, 2026 (see the filing on EDGAR). This is the count contemporaneous with the 2025-2026 meeting, not today’s. Each holding is as of its own filing, which may be dated before or after the meeting.
Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered funds disclose how they voted every proxy and institutional managers disclose their votes on executive pay (say-on-pay, say-on-frequency and golden parachutes), and Form 8-K Item 5.07, in which the company reports its own meeting results. Shares outstanding are taken from Natural Grocers by Vitamin Cottage, Inc.’s 10-Q dated February 2, 2026. This page is a static snapshot rebuilt weekly on November 8, 2026; a live search always shows the current data.
Natural Grocers by Vitamin Cottage, Inc. proxy season coverage: 2023-2024 · 2024-2025 · 2025-2026 (this page).
proxyvotesnow.com, “Natural Grocers by Vitamin Cottage (NGVC) 2026 Annual Meeting”, https://proxyvotesnow.com/company/natural-grocers-by-vitamin-cottage-inc/2026 (version of November 8, 2026). Derived from SEC Form N-PX and Form 8-K filings; tables licensed CC BY 4.0. Licence: CC BY 4.0.