Stitch Fix Announces New Employee Inducement Grant

Rhea-AI Summary

On December 17, 2021, Stitch Fix (NASDAQ: SFIX) announced the granting of stock options and restricted stock units to Linda Aiello. Effective December 14, 2021, Ms. Aiello received options to purchase 315,347 shares at $18.50 each, vesting over three years. Additionally, she was awarded restricted stock units for 52,558 shares, also vesting over three years. These grants are in line with the 2019 Inducement Plan approved by the board to attract new talent. Stitch Fix continues to offer a unique online personal styling service combining human expertise with data science.

Positive

• Linda Aiello's stock options and restricted stock units may enhance shareholder value through her potential contribution to the company's growth.

Negative

• Concerns about continuity or experience gaps in leadership due to new management changes.

SAN FRANCISCO, Dec. 17, 2021 (GLOBE NEWSWIRE) -- Stitch Fix, Inc. (NASDAQ:SFIX), the leading online personal styling service, today announced that effective December 14, 2021, the compensation committee of the company’s board of directors granted Linda Aiello the option to purchase 315,347 shares of the company’s Class A common stock, at a per share exercise price of $18.50, and restricted stock units to acquire 52,558 shares of the company’s Class A common stock. The stock options vest over three years, with one sixth of the shares vesting on the six-month anniversary of Ms. Aiello’s grant date and the remainder vesting in equal monthly installments thereafter, subject to Ms. Aiello’s continued service on each vesting date. The restricted stock units vest over three years, with one sixth of the shares vesting on June 15, 2022, and the remainder vesting in equal quarterly installments thereafter, subject to Ms. Aiello’s continued service on each vesting date. The stock options and restricted stock units were granted pursuant to, and are subject to the terms of, the Stitch Fix, Inc. 2019 Inducement Plan and forms of stock option and restricted stock unit agreements thereunder, which were approved by the company's board of directors in October 2019 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 is the world's leading online personalized shopping experience. Our unique business model combines the human touch of expert Stylists with the precision of advanced data science. Since our founding in 2011, we’ve served as a trusted style partner to millions of people, helping adults and kids get dressed every day feeling like their best selves. The Stitch Fix team is building a transformative and inclusive ecommerce model, an ecosystem of shopping experiences based on convenience and guided discovery that makes it radically simple and delightful for customers to discover and buy what they love. For more, visit https://www.stitchfix.com. 

IR Contact: Tanny Shelburne ir@stitchfix.com

PR Contact: Suzy Sammons media@stitchfix.com

FAQ

What stock options were granted to Linda Aiello by Stitch Fix?

Linda Aiello was granted options to purchase 315,347 shares at an exercise price of $18.50.

What is the vesting schedule for Linda Aiello's stock options?

The stock options vest over three years, with one sixth vesting after six months and the remainder vesting monthly.

What are the details of the restricted stock units granted to Linda Aiello?

Linda Aiello received 52,558 restricted stock units that vest over three years, with one sixth vesting on June 15, 2022, and the rest quarterly.

Under which plan were the stock options granted to Linda Aiello?

The stock options and restricted stock units were granted under the Stitch Fix, Inc. 2019 Inducement Plan.

How does the stock grant to Linda Aiello impact Stitch Fix investors?

The stock options granted to Linda Aiello could potentially improve company performance and shareholder value.