Form 4: SpartanNash Director Cashes Out Shares in Merger

Director Fred Bentley disposed of all SpartanNash shares and restricted stock units at $26.90 per share following the company's acquisition by C&S Wholesale Grocers, LLC.

Summary

• Fred Bentley, a Director of SpartanNash Co., reported the disposition of all his beneficial ownership in the company.
• The transactions occurred on September 22, 2025, coinciding with the acquisition of SpartanNash by C&S Wholesale Grocers, LLC.
• All outstanding SpartanNash common stock was canceled and converted into a cash payment of $26.90 per share.
• SpartanNash restricted stock units (RSUs) also vested and converted into a cash payment of $26.90 per share.
• Bentley disposed of 9,587 shares of common stock and 7,847 shares related to RSUs, totaling 17,434 shares.

Sentiment

Score: 7

Explanation: The sentiment is positive for shareholders who received a cash premium for their shares, indicating a successful exit. For the company, it marks the end of its independent public operation, which is a neutral event in terms of sentiment for its ongoing business.

Positives

• SpartanNash shareholders, including Director Fred Bentley, received a cash payment of $26.90 per share for their holdings.
• The merger agreement, dated June 22, 2025, successfully closed, providing a definitive exit for public shareholders.

Negatives

• SpartanNash Company is no longer a publicly traded entity, meaning shareholders will not participate in its future growth or performance.
• The company's independent existence as a public entity has concluded.

Future Outlook

SpartanNash Company has been acquired by C&S Wholesale Grocers, LLC and is no longer a publicly traded entity. There is no forward-looking guidance for SpartanNash as an independent public company.

Industry Context

This acquisition represents a consolidation event within the grocery distribution and retail sector, indicating ongoing strategic realignments and potential for increased market concentration among key players. Such mergers often aim to achieve economies of scale, expand geographic reach, or enhance supply chain efficiencies.

Stakeholder Impact

• Shareholders received a cash payment of $26.90 per share, realizing value for their investment.
• The company's employees and suppliers will now operate under the ownership of C&S Wholesale Grocers, LLC, with potential changes to their roles or relationships.

Next Steps

• SpartanNash Company will be delisted from public exchanges.
• C&S Wholesale Grocers, LLC will integrate SpartanNash's operations.

Key Dates

Keywords

SpartanNash, SPTN, C&S Wholesale Grocers, Merger, Acquisition, Form 4, Insider Trading, Director, Fred Bentley, Stock Disposition, Restricted Stock Units