TRANSACTIONS WITH RELATED PERSONS
The Company’s supermarket in Chatham, New Jersey is leased from Hickory Square Associates, a limited partnership. The lease is dated April 1, 1986 and expires
March 31, 2026. The annual rent under this lease is $704,000. Sumas Realty Associates is a 30% limited partner in Hickory Square Associates.
Sumas Realty Associates is a general partnership including Robert Sumas, William Sumas, John P. Sumas and the estate of James Sumas.
All obligations of
the Company to Wakefern Food Corporation are personally guaranteed by certain members of the Sumas family.
It is
the Company’s policy that the Audit Committee review and approve any transactions with related persons in excess of $120,000. There were no transactions required to be reviewed or approved in fiscal 2021.
SECTION
16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE
Section 16(a) of the Securities and Exchange Act of 1934, as amended, requires
the Company’s executive officers and directors to file with the SEC reports of ownership and reports of changes in ownership of Class A stock and Class B stock. Copies of these reports must also be furnished to
the Company. Based solely on a review of these filings and written representations from reporting persons,
the Company believes that all filing requirements applicable to its executive officers and directors were complied with during fiscal
2021.
SELECTION OF INDEPENDENT AUDITORS
The appointment by the Audit Committee of KPMG LLP as independent auditors to audit the consolidated financial statements of
the Company for the fiscal year ending
July 30, 2022 is to be submitted at the meeting for ratification or rejection. The consolidated financial statements of
the Company for the 2021, 2020, and 2019 fiscal years were audited by KPMG LLP.
Representatives
of KPMG LLP are expected to attend the Annual Meeting and will be given the opportunity to make a statement if they wish to do so and will be available to respond to appropriate questions.
Although ratification by the shareholders of the appointment of independent auditors is not required, the Audit Committee will reconsider its appointment of KPMG LLP if such ratification is not obtained. Ratification shall require a majority of the votes cast.
The Board of Directors recommends that the shareholders vote FOR the ratification of KPMG LLP as
the Company’s independent auditors for fiscal 2022.
SHAREHOLDER PROPOSALS FOR 2021 ANNUAL MEETING
Any proposal that a shareholder intends to present at the 2022 annual meeting of shareholders of
the Company (the
“2022 Annual Meeting”), presently scheduled to be held on
December 16, 2022, and requests to be considered for inclusion in
the Company’s Proxy Statement for the 2022 Annual Meeting, must be received by
the Company
no later than
July 1, 2022. Such requests should be made in writing and sent to the Secretary of
the Company, Village Super Market, Inc., 733 Mountain Avenue,
Springfield,
New Jersey 07081.
OTHER MATTERS
The
Company will furnish a copy of the 2021 Form 10-K, without exhibits, without charge to each person who forwards a written request, including a representation that he was a record or beneficial holder of
the Company’s Common Stock on
October 18, 2021. Requests are to be addressed to the Secretary of
the Company, Village Super Market, Inc., 733 Mountain Avenue,
Springfield,
New Jersey 07081.
All
expenses incurred in connection with the preparation and circulation of this Proxy Statement in an amount that would normally be expended in connection with the Annual Meeting in the absence of a contest will be paid by
the Company. No solicitation expenses will be incurred. Management does not know of any other business that will be presented at the Annual Meeting.
By order of the Board of Directors,
JOHN P. SUMAS,
Secretary