Stitch Fix Announces New Employee Inducement Grant

Rhea-AI Summary

Stitch Fix, Inc. (NASDAQ:SFIX) granted restricted stock units (RSUs) to a new employee to acquire 63,679 shares of the company’s Class A common stock. One fourth of these restricted stock units will vest on March 13, 2024, and the remainder will vest in 3 equal quarterly installments of 1/4th over the next three subsequent quarterly RSU vesting dates, subject to the recipient's continuous service on each vesting date. The RSUs were granted pursuant to the Stitch Fix, Inc. Amended and Restated 2019 Inducement Plan and forms of stock option and RSU agreements thereunder, approved by the company's board of directors in April 2022 under Rule 5635(c)(4) of the Nasdaq Global Market for equity grants to induce new employees to enter into employment with the company.

SAN FRANCISCO, Jan. 19, 2024 (GLOBE NEWSWIRE) -- Stitch Fix, Inc. (NASDAQ:SFIX), the leading online personal styling service, today announced that effective January 18, 2024, the compensation committee of the company’s board of directors granted restricted stock units (RSUs) to one new employee to acquire 63,679 shares of the company’s Class A common stock. One fourth of these restricted stock units will vest on March 13, 2024, and the remainder will vest in 3 equal quarterly installments of 1/4th over the next three subsequent quarterly RSU vesting dates, subject to the recipient's continuous service on each vesting date. The RSUs were granted pursuant to, and are subject to the terms of, the Stitch Fix, Inc. Amended and Restated 2019 Inducement Plan and forms of stock option and RSU agreements thereunder, which were approved by the company's board of directors in April 2022 under Rule 5635(c)(4) of the Nasdaq Global Market for equity grants to induce new employees to enter into employment with the company.

About Stitch Fix, Inc.

Stitch Fix combines the human touch of expert stylists with the precision of advanced data science to make online personal styling accessible to everyone. Stitch Fix helps millions of clients across the United States find clothing and accessories they love through a unique model that can extend far beyond the closet to define the future of shopping. For more, visit https://www.stitchfix.com.

IR Contact: Hayden Blair ir@stitchfix.com

PR Contact: Kathryn Hull media@stitchfix.com

FAQ

How many shares of the company’s Class A common stock did the new employee acquire through the RSUs?

The new employee acquired 63,679 shares of the company’s Class A common stock through the RSUs.

When will one fourth of the restricted stock units vest?

One fourth of the restricted stock units will vest on March 13, 2024.

What is the purpose of the Amended and Restated 2019 Inducement Plan?

The Amended and Restated 2019 Inducement Plan was approved for equity grants to induce new employees to enter into employment with the company.

Under what rule were the stock option and RSU agreements approved by the company's board of directors?

The stock option and RSU agreements were approved under Rule 5635(c)(4) of the Nasdaq Global Market for equity grants to induce new employees to enter into employment with the company.