Sprouts Farmers Market, Inc.

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. Konat will also continue to be eligible to participate in the Company’s Amended and Restated Executive Severance and Change in Control Plan on substantially the same terms as other executive officers of the Company. There are no family relationships between Mr. Konat and any director or executive officer of the Company, and he has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K, nor are any such transactions currently proposed. There is no arrangement or understanding between Mr. Konat and any other person pursuant to which Mr. Konat was appointed Chief Executive Officer and a director. In connection with his transition to Executive Chair, the Board approved a new compensation package for Mr. Sinclair comprised of an annual base salary of $900,000, a target short-term performance-based cash bonus opportunity of 100% of his annual base salary, and a long-term equity incentive compensation opportunity of 333% of his annual base salary. Board Transition In connection with Mr. Konat’s appointment to the Board, on the Transition Date, the Board will increase to nine members, and Mr. Konat will be appointed to serve for an initial term as a director expiring at the Company’s 2027 annual meeting of stockholders. On the Transition Date, Joseph Fortunato, Chairman of the Board, will serve as Lead Independent Director of the Board.