Form 4: SpartanNash Officer Cashes Out Equity Post-Merger

Amy S. McClellan, EVP, Chief Customer Officer of SpartanNash Co., converted all her equity holdings into cash following the company's acquisition by C&S Wholesale Grocers, LLC at $26.90 per share.

Summary

• Amy S. McClellan, EVP, Chief Customer Officer of SpartanNash Co., reported changes in her beneficial ownership of SpartanNash common stock.
• These transactions occurred on September 22, 2025, coinciding with the effective time of the merger where C&S Wholesale Grocers, LLC acquired SpartanNash Company.
• All outstanding SpartanNash common stock, restricted stock units (RSUs), and performance-based restricted stock units (PSUs) were cancelled and converted into the right to receive a cash payment of $26.90 per share.
• McClellan disposed of 13,913 shares of common stock, 19,024 shares underlying vested RSUs, and 46,346 shares underlying vested PSUs, all at a price of $26.90 per share.
• Following these transactions, McClellan beneficially owns 0.00 shares of SpartanNash common stock.

Sentiment

Score: 7

Explanation: The filing reports the successful conversion of an executive's equity holdings into cash at a predetermined merger price, indicating a positive liquidity event for the individual following a corporate acquisition.

Positives

• Reporting person Amy S. McClellan received a cash payment of $26.90 per share for all her equity holdings, providing liquidity.
• The merger agreement ensured the vesting of all restricted stock units (RSUs) and performance-based restricted stock units (PSUs) at the greater of target or actual performance levels, maximizing value for the equity holder.

Future Outlook

This filing does not contain forward-looking statements or guidance, as it reports completed transactions related to a past merger event.

Industry Context

The acquisition of SpartanNash Company by C&S Wholesale Grocers, LLC represents a significant consolidation within the U.S. food distribution and grocery retail sector. This trend often aims to achieve economies of scale, enhance supply chain efficiencies, and strengthen market position in a competitive industry.

Comparison to Industry Standards

• The reported transactions are standard procedures for executive equity holdings during a corporate acquisition.
• The cash-out price of $26.90 per share reflects the agreed-upon merger consideration, which would have been determined through negotiations and market valuations, typically benchmarked against comparable transactions in the food distribution or grocery retail industry. Specific comparable companies or projects are not detailed in this filing.

Related Party Transactions

• The filing details the acquisition of SpartanNash Company by C&S Wholesale Grocers, LLC, which is a significant corporate transaction. While not explicitly termed a "related party transaction" in the filing, it represents a change of control event.

Stakeholder Impact

• Shareholders: All shareholders, including the reporting person, received a cash payment of $26.90 per share for their SpartanNash common stock, RSUs, and PSUs, providing a clear exit and liquidity.
• Employees: For employees holding equity, their holdings were converted to cash, as demonstrated by the reporting person's transactions.

Key Dates

Keywords

SpartanNash, SPTN, C&S Wholesale Grocers, Merger, Acquisition, Form 4, Insider Transaction, Equity Conversion, Restricted Stock Units, Performance Stock Units, Amy S. McClellan