United Natural Foods Reports Employment Inducement Grant

PROVIDENCE, R.I.--(BUSINESS WIRE)--United Natural Foods, Inc. (NYSE: UNFI) (the “Company” or “UNFI”) announced today that on December 11, 2020, it granted a restricted stock unit (“RSU”) award to R. Eric Esper, its Chief Accounting Officer and Controller, covering a total of 43,324 shares of common stock of UNFI. The RSU will vest in three equal annual installments, beginning on the first anniversary of the date of grant.

The RSU was awarded pursuant to Mr. Esper's previously announced appointment, with the number of shares determined based on the market price on the date of grant. The RSU was approved by the Company’s Compensation Committee as an inducement grant in reliance on the employment inducement exemption under Rule 303A.08 of the New York Stock Exchange (NYSE) Listing Standards. This announcement is being made pursuant to the requirements of Rule 303A.08. The terms of the RSU awarded to Mr. Esper are substantially the same as those of other RSUs granted to other UNFI employees. The RSU was not issued under UNFI’s 2020 Equity Incentive Plan but will be governed as if it were so issued.

About United Natural Foods

UNFI is North America's premier food wholesaler delivering the widest variety of products to customer locations throughout North America including natural product superstores, independent retailers, conventional supermarket chains, ecommerce retailers, and food service customers. By providing this deeper ‘full-store’ selection and compelling brands for every aisle, UNFI is uniquely positioned to deliver great food, more choices, and fresh thinking to customers everywhere. Today, UNFI is the largest publicly-traded grocery distributor in America. To learn more about how UNFI is Moving Food Forward, visit www.unfi.com.