3 unchanged sentences
On July 30, 2022, we had 79 stockholders of record.
−Removed: We have never paid any cash dividends on our capital stock.
−Removed: We anticipate that all of our earnings in the foreseeable future will be retained to finance the continued growth and development of our business and repay our outstanding indebtedness, and we have no current intention to pay cash dividends.
+Added: We have never paid any cash dividends on our capital stock and we have no current intention to pay cash dividends.
Our future dividend policy will depend on our earnings, capital requirements, financial condition and other factors considered relevant by our Board of Directors.
−Removed: Additionally, our ABL Credit Facility, Term Loan Facility and Senior Notes contain terms that limit our ability to make any cash dividends unless certain conditions and financial tests are met.
+Added: Our Term Loan Facility, ABL Credit Facility and Senior Notes contain terms that limit our ability to make cash dividends.
Comparative Stock Performance
5 unchanged sentences
Among United Natural Foods, Inc., the S&P SmallCap 600, the S&P SmallCap 600 Food Distributors (1)
−Removed: (1) Our selected industry peer group reflects the S&P SmallCap 600 Food Distributors Index, which includes SpartanNash Company, The Andersons, Inc., The Chef’s Warehouse, Inc.
+Added: (1) Our selected industry peer group is the S&P SmallCap 600 Food Distributors Index, which includes SpartanNash Company, The Andersons, Inc., The Chef’s Warehouse, Inc.
and United Natural Foods, Inc.
−Removed: July 30, 2016 July 29, 2017 July 28, 2018 August 3, 2019 August 1, 2020 July 31, 2021
+Added: July 29, 2017 July 28, 2018 August 3, 2019 August 1, 2020 July 31, 2021 July 30, 2022
United Natural Foods, Inc.
3 unchanged sentences
Issuer Purchases of Equity Securities
−Removed: On October 6, 2017, we announced that our Board of Directors authorized a share repurchase program for up to $200 million of our outstanding common stock.
−Removed: The repurchase program is scheduled to expire upon our repurchase of shares of our common stock having an aggregate purchase price of $200 million.
−Removed: We did not repurchase any shares of our common stock in fiscal 2021 or 2020 pursuant to the share repurchase program.
−Removed: As of July 31, 2021, we have $176 million remaining authorized under the share repurchase program.
−Removed: We do not expect to purchase shares under the share repurchase program during fiscal 2022.
−Removed: Additionally, our ABL Credit Facility, Term Loan Facility and Senior Notes contain terms that limit our ability to repurchase common stock above certain levels unless certain conditions and financial tests are met.
−Removed: We may also implement all or part of the repurchase program pursuant to a plan or plans meeting the conditions of Rule 10b5-1 under the Securities Exchange Act of 1934, as amended.
+Added: In September 2022, our Board of Directors authorized a new repurchase program for up to $200 million of our Common stock over a term of four years (the “2022 Repurchase Program”).
+Added: Upon approval of the 2022 Repurchase Program, our Board terminated the repurchase program authorized in October 2017, which provided for the purchase of up to $200 million of our outstanding Common stock (the "2017 Repurchase Program").
+Added: We did not repurchase any shares of our Common stock in fiscal 2022, 2021 or 2020 pursuant to the 2017 Repurchase Program.
+Added: As of July 30, 2022, we had $176 million remaining authorized under the 2017 Repurchase Program.
+Added: We will manage the pacing of any repurchases in response to market conditions and other relevant factors, including any limitations on our ability to conduct repurchases under the terms of our ABL Credit Facility, Term Loan Facility and Senior Notes.
+Added: We may implement all or part of the repurchase program pursuant to a plan or plans meeting the conditions of Rule 10b5-1 under the Exchange Act.
+Added: The following table contains the deemed surrender of shares to us by participants in our compensatory stock plans:
(in millions, except shares and per share amounts) Total Number of Shares Purchased (2)
8 unchanged sentences
There were no share repurchases under the share repurchase program in the fourth quarter of fiscal 2022.
−Removed: This item is reserved as a result of the Company’s early adoption of Item 301 of Regulation S-K, pursuant to rules adopted by the Securities and Exchange Commission on November 19, 2020, which included removing the requirement to include selected financial data.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.