Form 4: UNFI Director James C. Pappas Reports Changes in Beneficial Ownership

Director James C. Pappas reports acquisition of restricted stock units and indirect ownership of common stock through JCP Investment entities.

Summary

• On December 19, 2024, James C. Pappas, a director of United Natural Foods Inc. (UNFI), reported changes in his beneficial ownership of the company's stock.
• Pappas was granted 6,486 restricted stock units (RSUs) under the Fourth Amended and Restated Equity Incentive Plan, which will fully vest on December 19, 2025.
• Each RSU represents the right to receive one share of UNFI common stock upon vesting.
• Pappas also disclaims beneficial ownership of 293,144 shares held by JCP Investment Partnership, LP, and 177,178 shares held in managed accounts of JCP Investment Management, LLC, except to the extent of his pecuniary interest.
• Following the reported transactions, Pappas directly owns 19,378 shares of UNFI common stock.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, so the sentiment is neutral.

Positives

• The grant of restricted stock units aligns the director's interests with the long-term performance of the company.

Future Outlook

The vesting of the restricted stock units on December 19, 2025, will result in the issuance of additional shares of UNFI common stock to James C. Pappas.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.

Stakeholder Impact

• The transaction may have a minor impact on shareholders due to the potential dilution from the vesting of the restricted stock units.

Key Dates