Business Context and Reporting Period
This Form 8-K Current Report is filed by Grocery Outlet Holding Corp. (Nasdaq: GO) on June 9, 2026. The filing primarily addresses significant leadership changes within the executive team, including the departure of the Chief Financial Officer and Chief Merchandising & Purchasing Officer, and the appointment of successors.
Key Financial Metrics
The filing does not contain specific financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics for the current or prior periods. The document focuses exclusively on personnel transitions and compensation arrangements.
Material Changes
The primary material change reported is a restructuring of the executive leadership team effective June 2026:
- Departures: Christopher M. Miller (EVP, CFO) will depart effective June 26, 2026. Matthew P. Delly (EVP, Chief Merchandising & Purchasing Officer) will depart effective June 12, 2026. Both will receive separation benefits under the Executive Severance Plan.
- Appointments:
- Ian Ferry appointed as EVP, CFO, and Treasurer, effective June 9, 2026. He previously served as SVP, Strategic Finance, Investor Relations, and Treasurer.
- Susan Leary promoted to SVP, Accounting, and designated as Principal Accounting Officer, effective June 9, 2026.
- Paul Miller appointed as EVP, Chief Purchasing and Merchandising Officer, effective June 9, 2026. He is a former employee with over 25 years of tenure who had been serving as an advisor since his 2024 retirement.
Guidance, Outlook, and Management Commentary
Management affirmed its financial outlook for the second quarter and fiscal year 2026, stating it remains unchanged from the guidance originally provided on May 13, 2026. No new risks or contingencies were disclosed in this filing.
Compensation Details for New Appointments:
- Ian Ferry: Annual base salary of $475,000; target cash bonus of 60% of base; target equity grant value of 200% of base.
- Susan Leary: Annual base salary of $300,000; target cash bonus of 50% of base; target equity grant value of 150% of base.
Investor Verification Checklist
- Verify the specific terms of the Executive Severance Plan referenced for departing executives Miller and Delly in the 2026 Proxy Statement.
- Review the press release (Exhibit 99.1) for any additional context on the strategic rationale for the leadership changes.
- Confirm the stability of the Q2 and FY 2026 financial outlook by comparing this affirmation against the May 13, 2026 guidance.
- Monitor future filings for the integration of Paul Miller into the active executive role following his retirement and advisory period.