NAII · Natural Alternatives International Inc · Insider Trading
Substantial doubt about the company's ability to continue as a going concern.
“Management identified the following conditions that raised substantial doubt about the Company's ability to continue as a going concern: • Continued net losses and negative operating cash flows; • A forecasted inability to meet the financial covenant requirements of Legacy for the nine months ending September 30, 2026; and • Our inability to satisfy amounts owed under the current credit facility and term loan with cash currently available in the event Legacy elects to exercise its rights under the credit facility in the event of non-compliance regarding default actions against the Company. While management plans to take the actions noted above, there can be no assurance we will be successful in our efforts to obtain a waiver, amendment, or obtain alternative financing or avoid future issues maintaining compliance with financial covenants.”View the 10-K filed Sep 28, 2026
One customer — 27% of revenue (nine months ended March 31, 2026)
“Revenue concentration for our largest private-label contract manufacturing customer as a percentage of total net sales for the nine months ended March 31, 2026 was 27%”
One customer — 35% of revenue (nine months ended March 31, 2025)
“revenue concentration for our largest private-label contract manufacturing customer as a percentage of total net sales for the nine months ended March 31, 2025 was 35%”
Trades by corporate insiders — officers, directors and holders of more than 10% of the shares — disclosed to the SEC on Forms 4 and 5. Form 3 supplies initial ownership rather than a trade; Form 4 must be filed within two business days of the trade.
| Date | Insider | Role | Type | Security | Shares |
|---|---|---|---|---|---|
| 2026-03-06 | Fortin Michael E |
Chief Financial Officer |
Award↑
Filing footnotes — Common Stock (Direct)
This transaction represents a grant of restricted stock to the Officer pursuant to the Issuer's 2020 Omnibus Incentive Plan. One third (4,000 shares) of the restricted stock vests on March 7, 2027; one third (4,000 shares) of the restricted stock vests on March 7, 2028, and the final third (4,000 shares) of the restricted stock vests on March 7, 2029. |
Common Stock
|
12,000 |
| 2026-03-06 | Fortin Michael E |
Chief Financial Officer |
Tax↓
Filing footnotes — Common Stock (Direct)
This transaction represents a resale of 4,308 shares to the Issuer as payment of the reporting person's tax liability upon vesting of 7,666 shares of restricted stock on March 7, 2026, using the closing stock price on March 6, 2026, of $2.73 per share. |
Common Stock
|
4,308 |
| 2026-03-06 | LEDOUX MARK A |
Director, CEO/Chairman, 10% Owner |
Award↑
Filing footnotes — Common Stock (Direct)
This transaction represents a grant of restricted stock to the Officer pursuant to the Issuer's 2020 Omnibus Incentive Plan. One third (6,667 shares) of the restricted stock vests on March 7, 2027; one third (6,667 shares) of the restricted stock vests on March 7, 2028, and the final third (6,666 shares) of the restricted stock vests on March 7, 2029. |
Common Stock
|
20,000 |
| 2026-03-06 | WOLF KENNETH |
President, COO, & Sec. |
Tax↓
Filing footnotes — Common Stock (Direct)
This transaction represents a resale of 5,151 shares to the Issuer as payment of the reporting person's tax liability upon vesting of 9,166 shares of restricted stock on March 7, 2026, using the closing stock price on March 6, 2026, of $2.73 per share. |
Common Stock
|
5,151 |
| 2026-03-06 | Matherly Laura Kay |
Director |
Award↑
Filing footnotes — Common Stock (Direct)
This transaction represents a grant of restricted stock to an outside Director pursuant to the Issuer's 2020 Omnibus Incentive Plan. One third (2,667 shares) of the restricted stock vests on March 7, 2027; one third (2,667 shares) of the restricted stock vests on March 7, 2028, and the final third (2,666 shares) of the restricted stock vests on March 7, 2029. |
Common Stock
|
8,000 |
| 2026-03-06 | WOLF KENNETH |
President, COO, & Sec. |
Award↑
Filing footnotes — Common Stock (Direct)
This transaction represents a grant of restricted stock to the Officer pursuant to the Issuer's 2020 Omnibus Incentive Plan. One third (5,000 shares) of the restricted stock vests on March 7, 2027; one third (5,000 shares) of the restricted stock vests on March 7, 2028, and the final third (5,000 shares) of the restricted stock vests on March 7, 2029. |
Common Stock
|
15,000 |
| 2026-03-06 | LEDOUX MARK A |
Director, CEO/Chairman, 10% Owner |
Buy↑
|
Common Stock
|
532 |
| 2026-03-06 | Dunn Alan G |
Director |
Award↑
Filing footnotes — Common Stock (Direct)
This transaction represents a grant of restricted stock to an outside Director pursuant to the Issuer's 2020 Omnibus Incentive Plan. One third (2,667 shares) of the restricted stock vests on March 7, 2027; one third (2,667 shares) of the restricted stock vests on March 7, 2028, and the final third (2,666 shares) of the restricted stock vests on March 7, 2029. |
Common Stock
|
8,000 |
| 2026-03-06 | LEDOUX MARK A |
Director, CEO/Chairman, 10% Owner |
Tax↓
Filing footnotes — Common Stock (Direct)
This transaction represents a resale of 3,484 shares to the Issuer as payment of the reporting person's tax liability upon vesting of 10,667 shares of restricted stock on March 7, 2026, using the closing stock price on March 6, 2026, of $2.73 per share. |
Common Stock
|
3,484 |
| 2026-03-06 | Ramanathan Guru |
Director |
Award↑
Filing footnotes — Common Stock (Direct)
This transaction represents a grant of restricted stock to an outside Director pursuant to the Issuer's 2020 Omnibus Incentive Plan. One third (2,667 shares) of the restricted stock vests on March 7, 2027; one third (2,667 shares) of the restricted stock vests on March 7, 2028, and the final third (2,666 shares) of the restricted stock vests on March 7, 2029. |
Common Stock
|
8,000 |
| 2026-03-05 | LEDOUX MARK A |
Director, CEO/Chairman, 10% Owner |
Buy↑
|
Common Stock
|
218 |
| 2026-03-04 | LEDOUX MARK A |
Director, CEO/Chairman, 10% Owner |
Buy↑
|
Common Stock
|
500 |
| 2026-03-02 | LEDOUX MARK A |
Director, CEO/Chairman, 10% Owner |
Buy↑
|
Common Stock
|
500 |
| 2026-02-27 | LEDOUX MARK A |
Director, CEO/Chairman, 10% Owner |
Buy↑
|
Common Stock
|
250 |
| 2026-02-27 | LEDOUX MARK A |
Director, CEO/Chairman, 10% Owner |
Buy↑
|
Common Stock
|
500 |
| 2026-02-26 | LEDOUX MARK A |
Director, CEO/Chairman, 10% Owner |
Buy↑
|
Common Stock
|
500 |
| 2026-02-25 | LEDOUX MARK A |
Director, CEO/Chairman, 10% Owner |
Buy↑
|
Common Stock
|
500 |
| 2026-02-24 | LEDOUX MARK A |
Director, CEO/Chairman, 10% Owner |
Buy↑
|
Common Stock
|
1,000 |
| 2026-02-23 | LEDOUX MARK A |
Director, CEO/Chairman, 10% Owner |
Buy↑
|
Common Stock
|
750 |
| 2026-02-20 | LEDOUX MARK A |
Director, CEO/Chairman, 10% Owner |
Buy↑
|
Common Stock
|
250 |
| 2026-02-19 | LEDOUX MARK A |
Director, CEO/Chairman, 10% Owner |
Buy↑
|
Common Stock
|
1,500 |
| 2026-02-18 | LEDOUX MARK A |
Director, CEO/Chairman, 10% Owner |
Buy↑
|
Common Stock
|
500 |
| 2026-02-17 | LEDOUX MARK A |
Director, CEO/Chairman, 10% Owner |
Buy↑
|
Common Stock
|
2,500 |
| 2025-12-23 | LEDOUX MARK A |
Director, CEO/Chairman, 10% Owner |
Gift↓
Filing footnotes — Common Stock (Direct)
This transaction represents shares donated by the Reporting Person without consideration to a private foundation for whom the Reporting Person is the President but has no pecuniary interest. |
Common Stock
|
10,000 |
| 2025-03-07 | Matherly Laura Kay |
Director |
Award↑
Filing footnotes — Common Stock (Direct)
This transaction represents a grant of restricted stock to an outside Director pursuant to the Issuer's 2020 Omnibus Incentive Plan. One third (2,667 shares) of the restricted stock vests on March 7, 2026; one third (2,667 shares) of the restricted stock vests on March 7, 2027, and the final third (2,666 shares) of the restricted stock vests on March 7, 2028. |
Common Stock
|
8,000 |
| 2025-03-07 | Fortin Michael E |
Chief Financial Officer |
Tax↓
Filing footnotes — Common Stock (Direct)
This transaction represents a resale of 6,346 shares to the Issuer as payment of the reporting person's tax liability upon vesting of 11,333 shares of restricted stock on March 7, 2025, using the closing stock price on March 7, 2025, of $3.835 per share. |
Common Stock
|
6,346 |
| 2025-03-07 | LEDOUX MARK A |
Director, CEO/Chairman, 10% Owner |
Tax↓
Filing footnotes — Common Stock (Direct)
This transaction represents a resale of 5,900 shares to the Issuer as payment of the reporting person's tax liability upon vesting of 15,667 shares of restricted stock on March 7, 2025, using the closing stock price on March 7, 2025, of $3.835 per share. |
Common Stock
|
5,900 |
| 2025-03-07 | Dunn Alan G |
Director |
Award↑
Filing footnotes — Common Stock (Direct)
This transaction represents a grant of restricted stock to an outside Director pursuant to the Issuer's 2020 Omnibus Incentive Plan. One third (2,667 shares) of the restricted stock vests on March 7, 2026; one third (2,667 shares) of the restricted stock vests on March 7, 2027, and the final third (2,666 shares) of the restricted stock vests on March 7, 2028. |
Common Stock
|
8,000 |
| 2025-03-07 | WOLF KENNETH |
President, COO, & Sec. |
Tax↓
Filing footnotes — Common Stock (Direct)
This transaction represents a resale of 7,559 shares to the Issuer as payment of the reporting person's tax liability upon vesting of 13,500 shares of restricted stock on March 7, 2025, using the closing stock price on March 7, 2025, of $3.835 per share. |
Common Stock
|
7,559 |
| 2025-03-07 | Ramanathan Guru |
Director |
Award↑
Filing footnotes — Common Stock (Direct)
This transaction represents a grant of restricted stock to an outside Director pursuant to the Issuer's 2020 Omnibus Incentive Plan. One third (2,667 shares) of the restricted stock vests on March 7, 2026; one third (2,667 shares) of the restricted stock vests on March 7, 2027, and the final third (2,666 shares) of the restricted stock vests on March 7, 2028. |
Common Stock
|
8,000 |
| 2024-03-08 | Matherly Laura Kay |
Director |
Award↑
Filing footnotes — Common Stock (Direct)
This transaction represents a grant of restricted stock pursuant to the Issuer's 2020 Omnibus Incentive Plan. One third (2,667 shares) of the restricted stock vests on March 7, 2025; one third (2,667 shares) of the restricted stock vests on March 7, 2026, and the final third (2,666 shares) of the restricted stock vests on March 7, 2027. |
Common Stock
|
8,000 |
| 2024-03-08 | LEDOUX MARK A |
Director, CEO/Chairman, 10% Owner |
Award↑
Filing footnotes — Common Stock (Direct)
This transaction represents a grant of restricted stock pursuant to the Issuer's 2020 Omnibus Incentive Plan. One third (5,667 shares) of the restricted stock vests on March 7, 2025; one third (5,667 shares) of the restricted stock vests on March 7, 2026, and the final third (5,666 shares) of the restricted stock vests on March 7, 2027. |
Common Stock
|
17,000 |
| 2024-03-08 | WOLF KENNETH |
President, COO, & Sec. |
Award↑
Filing footnotes — Common Stock (Direct)
This transaction represents a grant of restricted stock pursuant to the Issuer's 2020 Omnibus Incentive Plan. One third (4,834 shares) of the restricted stock vests on March 7, 2025; one third (4,833 shares) of the restricted stock vests on March 7, 2026, and the final third (4,833 shares) of the restricted stock vests on March 7, 2027. |
Common Stock
|
14,500 |
| 2024-03-08 | Fortin Michael E |
Chief Financial Officer |
Award↑
Filing footnotes — Common Stock (Direct)
This transaction represents a grant of restricted stock pursuant to the Issuer's 2020 Omnibus Incentive Plan. One third (4,000 shares) of the restricted stock vests on March 7, 2025; one third (4,000 shares) of the restricted stock vests on March 7, 2026, and the final third (4,000 shares) of the restricted stock vests on March 7, 2027. |
Common Stock
|
12,000 |
| 2024-03-08 | Dunn Alan G |
Director |
Award↑
Filing footnotes — Common Stock (Direct)
This transaction represents a grant of restricted stock pursuant to the Issuer's 2020 Omnibus Incentive Plan. One third (2,667 shares) of the restricted stock vests on March 7, 2025; one third (2,667 shares) of the restricted stock vests on March 7, 2026, and the final third (2,666 shares) of the restricted stock vests on March 7, 2027. |
Common Stock
|
8,000 |
| 2024-03-08 | Ramanathan Guru |
Director |
Award↑
Filing footnotes — Common Stock (Direct)
This transaction represents a grant of restricted stock pursuant to the Issuer's 2020 Omnibus Incentive Plan. One third (2,667 shares) of the restricted stock vests on March 7, 2025; one third (2,667 shares) of the restricted stock vests on March 7, 2026, and the final third (2,666 shares) of the restricted stock vests on March 7, 2027. |
Common Stock
|
8,000 |
| 2024-03-07 | LEDOUX MARK A |
Director, CEO/Chairman, 10% Owner |
Tax↓
Filing footnotes — Common Stock (Direct)
This transaction represents a resale of 5,777 shares to the Issuer as payment of the reporting person's tax liability upon vesting of 13,666 shares of restricted stock on March 7, 2024, using the closing stock price on March 7, 2024, of $5.95 per share. |
Common Stock
|
5,777 |
| 2024-03-07 | Fortin Michael E |
Chief Financial Officer |
Tax↓
Filing footnotes — Common Stock (Direct)
This transaction represents a resale of 5,319 shares to the Issuer as payment of the reporting person's tax liability upon vesting of 9,500 shares of restricted stock on March 7, 2024, using the closing stock price on March 7, 2024, of $5.95 per share. |
Common Stock
|
5,319 |
| 2024-03-07 | WOLF KENNETH |
President, COO, & Sec. |
Tax↓
Filing footnotes — Common Stock (Direct)
This transaction represents a resale of 6,533 shares to the Issuer as payment of the reporting person's tax liability upon vesting of 11,667 shares of restricted stock on March 7, 2024, using the closing stock price on March 7, 2024, of $5.95 per share. |
Common Stock
|
6,533 |
| 2023-12-15 | LEDOUX MARK A |
Director, CEO/Chairman, 10% Owner |
Gift↓
Filing footnotes — Common Stock (Direct)
This transaction represents shares donated by the Reporting Person without consideration to two unrelated non-profit religious entities, and separately to a private foundation for whom the Reporting Person is the President but has no pecuniary interest. |
Common Stock
|
7,500 |
| 2023-03-07 | Dunn Alan G |
Director |
Award↑
Filing footnotes — Common Stock (Direct)
This transaction represents a grant of restricted stock pursuant to the Issuer's 2020 Omnibus Incentive Plan. One third (2,334 shares) of the restricted stock vests on March 7, 2024; one third (2,333 shares) of the restricted stock vests on March 7, 2025, and the final third (2,333 shares) of the restricted stock vests on March 7, 2026. |
Common Stock
|
7,000 |
| 2023-03-07 | WOLF KENNETH |
President, COO, & Sec. |
Award↑
Filing footnotes — Common Stock (Direct)
This transaction represents a grant of restricted stock pursuant to the Issuer's 2020 Omnibus Incentive Plan. One third (4,334 shares) of the restricted stock vests on March 7, 2024; one third (4,333 shares) of the restricted stock vests on March 7, 2025, and the final third (4,333 shares) of the restricted stock vests on March 7, 2026. |
Common Stock
|
13,000 |
| 2023-03-07 | Fortin Michael E |
Chief Financial Officer |
Award↑
Filing footnotes — Common Stock (Direct)
This transaction represents a grant of restricted stock pursuant to the Issuer's 2020 Omnibus Incentive Plan. One third (3,667 shares) of the restricted stock vests on March 7, 2024; one third (3,667 shares) of the restricted stock vests on March 7, 2025, and the final third (3,666 shares) of the restricted stock vests on March 7, 2026. |
Common Stock
|
11,000 |
| 2023-03-07 | Matherly Laura Kay |
Director |
Award↑
Filing footnotes — Common Stock (Direct)
This transaction represents a grant of restricted stock pursuant to the Issuer's 2020 Omnibus Incentive Plan. One third (2,334 shares) of the restricted stock vests on March 7, 2024; one third (2,333 shares) of the restricted stock vests on March 7, 2025, and the final third (2,333 shares) of the restricted stock vests on March 7, 2026. |
Common Stock
|
7,000 |
| 2023-03-07 | LEDOUX MARK A |
Director, CEO/Chairman, 10% Owner |
Tax↓
Filing footnotes — Common Stock (Direct)
This transaction represents a resale of 3,206 shares to the Issuer as payment of the reporting person's tax liability upon vesting of 8,667 shares of restricted stock on March 7, 2023, using the closing stock price on March 7, 2023, of $8.86 per share. |
Common Stock
|
3,206 |
| 2023-03-07 | Fortin Michael E |
Chief Financial Officer |
Tax↓
Filing footnotes — Common Stock (Direct)
This transaction represents a resale of 3,255 shares to the Issuer as payment of the reporting person's tax liability upon vesting of 5,834 shares of restricted stock on March 7, 2023, using the closing stock price on March 7, 2023, of $8.86 per share. |
Common Stock
|
3,255 |
| 2023-03-07 | WOLF KENNETH |
President, COO, & Sec. |
Tax↓
Filing footnotes — Common Stock (Direct)
This transaction represents a resale of 2,992 shares to the Issuer as payment of the reporting person's tax liability upon vesting of 7,334 shares of restricted stock on March 7, 2023, using the closing stock price on March 7, 2022, of $8.86 per share. |
Common Stock
|
2,992 |
| 2023-03-07 | LEDOUX MARK A |
Director, CEO/Chairman, 10% Owner |
Award↑
Filing footnotes — Common Stock (Direct)
This transaction represents a grant of restricted stock pursuant to the Issuer's 2020 Omnibus Incentive Plan. One third (5,000 shares) of the restricted stock vests on March 7, 2024; one third (5,000 shares) of the restricted stock vests on March 7, 2025, and the final third (5,000 shares) of the restricted stock vests on March 7, 2026. |
Common Stock
|
15,000 |
| 2023-03-07 | Ramanathan Guru |
Director |
Award↑
Filing footnotes — Common Stock (Direct)
This transaction represents a grant of restricted stock pursuant to the Issuer's 2020 Omnibus Incentive Plan. One third (2,334 shares) of the restricted stock vests on March 7, 2024; one third (2,333 shares) of the restricted stock vests on March 7, 2025, and the final third (2,333 shares) of the restricted stock vests on March 7, 2026. |
Common Stock
|
7,000 |
| 2022-11-01 | LEDOUX MARK A |
Director, CEO/Chairman, 10% Owner |
Gift↓
Filing footnotes — Common Stock (Direct)
This transaction represents shares donated by the Reporting Person without consideration to an unrelated non-profit religious entity, and separately to a private foundation for whom the Reporting Person is the President but has no pecuniary interest. |
Common Stock
|
7,500 |