---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-22-010813"
form_type: "8-K"
ticker: "SFM"
cik: "0001575515"
company_name: "Sprouts Farmers Market, Inc."
filed_at: "2022-05-27T23:59:59+00:00"
generated_at: "2026-06-25T06:19:13.490754+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Sprouts CMO Gil Phipps departs; severance of $375K; 6.6M share equity plan approved

## Summary
- Gil Phipps terminated as CMO effective May 31, 2022; receives $375K severance over 9 months plus COBRA.
- Shareholders approved 2022 Omnibus Incentive Plan authorizing 6.6M shares for equity awards.
- Outstanding 2013 Plan awards amended to fully vest upon death or disability.
- Class III directors Blum and Sinclair re-elected; say-on-pay and PwC ratification passed.

## SEC filing metadata
- accession: 0000950170-22-010813
- form_type: 8-K
- ticker: SFM
- cik: 0001575515
- company_name: Sprouts Farmers Market, Inc.
- filed_at: 2022-05-27T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 5.02, 5.07, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1575515/000095017022010813/0000950170-22-010813-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1575515/000095017022010813/sfm-20220524.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-22-010813
- JSON: https://secwatch.observer/filing/0000950170-22-010813.json
- Plain text: https://secwatch.observer/filing/0000950170-22-010813.txt

## Key facts
- Executive change
  Gil Phipps was terminated as Senior Vice President, Chief Marketing Officer at Sprouts Farmers Market, Inc..
  - Action: terminated
  - Role: Senior Vice President, Chief Marketing Officer
  source text: On May 25, 2022, the Company entered into a letter agreement with Mr. Phipps providing for the termination of his employment with the Company effective May 31, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1575515/000095017022010813/0000950170-22-010813-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.