Kim Coffin - Senior Vice President, Chief Forager | Sprouts Farmers Market (SFM) Executive Profile & Compensation

About Kim Coffin

Senior Vice President, Chief Forager at Sprouts Farmers Market (SFM) since April 2022; leads Sprouts Brand private label, product innovation, and culinary functions. 57 years old as of April 2025; bachelor’s in Business from Portland State University; joined Sprouts in 2012 after leadership roles at Sunflower Farmers Market and Albertsons (1987–2010) . Company performance context during her tenure includes FY2024 net sales of $7,719,290k and EBIT of $504,497k, and four-year cumulative TSR value of $658.64 for a $100 investment (vs. $241.39 peer index) as of FY2024; key compensation performance measure is Plan EBIT (Adjusted EBIT) .

Past Roles

Organization	Role	Years	Strategic impact
Sprouts Farmers Market	SVP, Chief Forager	Apr 2022 – Present	Oversees private label and product innovation; “foraging” function sources differentiated offerings; ELT member .
Sprouts Farmers Market	SVP, Non-Perishables	Feb 2020 – Apr 2022	Drove center-store assortment and merchandising .
Sprouts Farmers Market	VP, Grocery	May 2012 – Feb 2020	Early Sprouts leadership post-Sunflower acquisition; scaled differentiated grocery .
Sunflower Farmers Market	Sr. Director, Sales & Merchandising	Pre–May 2012 (acquired May 2012)	Category leadership prior to SFM acquisition .
Albertsons Companies	Various grocery roles	1987 – 2010	Progressive grocery leadership roles .

External Roles

Organization	Role	Years	Notes
Not disclosed in company filings for Ms. Coffin	—	—	Executive officer biography and executive roster do not list external directorships/committee roles for Ms. Coffin .

Fixed Compensation

Program structure for executive officers (company-wide; individual figures for Ms. Coffin are not disclosed as she is not an NEO).

Element	Company program detail
Base salary	Targeted near median (50th percentile) of comparable roles/companies; set based on performance, skills, scope, and reviewed annually .
Benefits & perquisites	Executives participate in broad-based health, welfare, and 401(k) programs; limited perquisites (primarily company-paid health and life insurance premiums) .
Governance	Independent compensation consultant used for benchmarking (peer group reviewed with Korn Ferry for 2023/2024); talent & compensation committee met four times in FY2024 .

Note: Ms. Coffin is not listed among Named Executive Officers (NEOs) in the Summary Compensation Table, so no individual salary/bonus totals are disclosed for her .

Performance Compensation

Short-term incentive (STI) and long-term incentive (LTI) design for executive officers (company-wide; indicative of structure likely applicable to Ms. Coffin).

Annual cash bonus (STI) – 2023 outcome (illustrative of design and performance linkage): | Metric | Weight | Target | Actual | Payout impact | |---|---|---|---|---| | Plan EBIT | 75% | 100% of target | 104% of target | 141% of target on weighted portion | | Comparable store sales | 25% | 100% of target | 115% of target | 117% of target on weighted portion | | Total payout | — | 100% of target | — | 135% of target for NEOs (plan-calculated) |
Long-term incentives – 2024 structure and standard vesting: | Award type | Target mix | Vesting schedule | Performance metric | |---|---|---|---| | Performance Shares | 50% of annual LTI value | Cliff vest at 3 years | Plan EBIT over 3-year period . | | RSUs | 25% of annual LTI value | 1/3 per year over 3 years | Time-based . | | Stock options | 25% of annual LTI value | 1/3 per year over 3 years | Time-based (options; strike set at grant) . |
Program governance and clawback:
- Restatement clawback policy adopted Nov 2023 under Rule 10D-1; applies to current/former officers, regardless of misconduct .
- Equity grant timing and windows; no “spring-loading”; standard vesting schedules as above .

Equity Ownership & Alignment

Topic	Detail
Stock ownership guidelines (updated 2024)	CEO: 5x salary; COO/CFO: 3x; other executive officers: 1x salary. Counting: includes outright owned, unvested RSUs, in-the-money vested options, and spouse/dependent holdings; excludes unvested PSAs and unvested options .
Compliance status	As of FY2024 year-end, each NEO met guidelines or was within five years of appointment; (NEO-specific disclosure; Ms. Coffin’s individual status not disclosed) .
Hedging/pledging	Hedging or pledging by directors/officers/team members prohibited without CLO approval per insider trading policy .
Individual beneficial ownership	Security Ownership table itemizes directors and NEOs only; Ms. Coffin (not an NEO and not a director) is not itemized, so her individual share count/option holdings are not disclosed in the proxy .

Employment Terms

Topic	Plan terms (executive officer program)
Employment agreements	NEOs do not have employment agreements (at-will); Mr. Konat has a separate letter; no specific employment contract disclosed for Ms. Coffin .
Severance (non-CIC)	CEO: 2 years salary + COBRA; others: 1 year salary + COBRA; CEO also eligible for aggregate prior two years’ bonuses and prorated current-year bonus; others do not receive bonus multiple outside CIC .
Change-in-control (CIC)	Double-trigger. CEO: 3 years salary + COBRA + target bonus multiple; other participants: 2 years salary + COBRA + target bonus; plan covers senior executives designated by the committee (includes NEOs) .
Equity treatment (CIC/death/disability)	Options/RSUs vest in full upon death/disability; PSAs pro-rated based on time and target/actual formula; upon CIC, acceleration if awards are not assumed OR upon qualifying termination within 24 months post-CIC .

Performance & Track Record (Company context for Ms. Coffin’s scope)

Differentiated assortment engine under the “foraging” function: team sources widely from tradeshows and a ~46,000-idea portal; ~7,200 items added in the prior year; target overlap with other grocers ~15%, seeking to reduce further; private label/differentiation central to merchandising strategy .
FY2024 financials and TSR (company-level): | Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | |---|---|---|---|---|---| | Net sales ($000s) | — | — | — | $6,837,384 | $7,719,290 | | Net income ($000s) | $287,450 | $244,157 | $261,164 | $258,856 | $380,601 | | Plan EBIT (Adj. EBIT) ($000s) | $400,500 | $334,076 | $358,360 | $396,265 | $504,497 | | TSR: $100 → value | $103.02 | $152.13 | $165.91 | $246.59 | $658.64 |

Notes: TSR values reference cumulative growth since FY2019 year-end; Plan EBIT is Adjusted EBIT per SFM’s definition .

Investment Implications

Alignment and incentives: Executive pay design emphasizes profitability (Plan EBIT) and comparable store sales in STI, and three-year Plan EBIT in PSAs—creating strong linkages between assortment-led differentiation (Ms. Coffin’s scope) and pay outcomes for leadership .
Retention and selling pressure: Standard three-year vesting for RSUs/options and cliff vesting for PSAs, plus double-trigger CIC vesting, support retention; hedging/pledging restricted, and a robust clawback is in place—favorable for alignment. Individual Form 4 trading patterns for Ms. Coffin are not disclosed in the proxy (and could not be retrieved programmatically here), limiting visibility into near-term selling pressure .
Execution drivers: The foraging team’s pipeline (tens of thousands of submissions; thousands of new items added; limited overlap with mass grocers) underpins Sprouts’ differentiation and private label expansion, which ties directly to traffic/mix and margin capture, congruent with Plan EBIT targets that drive incentive payouts .
Governance and pay risk: Independent committee oversight, benchmarking discipline, and consistent program design (no option repricing, no timing games) reduce pay-risk concerns; say‑on‑pay support remained solid in 2023, and the committee met four times in FY2024—constructive signals for investors .