SFM: Leadership change

Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers. Chief Executive Officer Succession On August 31, 2026, as part of its long-term succession process, the Board of Directors (the “Board”) of Sprouts Farmers Market, Inc. (the “Company”) appointed Nick Konat as Chief Executive Officer and as a member of the Board, effective at the beginning of the Company’s 2027 fiscal year (January 4, 2027)(the “Transition Date”). Jack Sinclair, who has served as Chief Executive Officer since June 2019, will transition to the role of Executive Chairman of the Board at that time. Mr. Konat, age 49, has served as the Company’s President and Chief Operating Officer since March 2022, where he has overseen the Company’s operations, marketing, merchandising, supply chain and innovation functions. Mr. Konat previously served at Petco Health and Wellness Company, Inc. (“Petco”) from September 2015 to March 2022, culminating as the Chief Merchandising Officer from October 2018 to March 2022. Prior to joining Petco, Mr. Konat served over nine years at Target Corporation, where he held a range of merchandising, planning, and leadership roles across the food and fashion categories. Mr. Konat also spent six years with Accenture plc. In connection with his appointment, the Board approved a new compensation package for Mr. Konat to increase his annual base salary to $900,000, effective September 1, 2026. On the Transition Date, Mr. Konat’s annual base salary will increase to $1,000,000, his target short-term performance-based cash bonus opportunity will be 125% of his annual base salary, and his long-term equity incentive compensation opportunity will be 600% of his annual base salary. Mr. Kon