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Stitch Fix Announces New Employee Inducement Grant
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
Stitch Fix, Inc. (NASDAQ:SFIX) announced the grant of 722,543 stock options and 361,272 restricted stock units to its Chief Product and Technology Officer, Tony Bacos, with a vesting schedule over multiple quarterly dates. The options and RSUs were granted under the 2019 Inducement Plan to induce new employees to join the company.
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SAN FRANCISCO, Dec. 12, 2023 (GLOBE NEWSWIRE) -- Stitch Fix, Inc. (NASDAQ:SFIX), the leading online personal styling service, today announced that effective December 8, 2023, the compensation committee of the company’s board of directors granted Tony Bacos, Chief Product and Technology Officer, the option to purchase 722,543 shares of the company’s Class A common stock, at a per share exercise price of $3.99, and restricted stock units (RSUs) to acquire 361,272 shares of the company’s Class A common stock. One fourth (25%) of the stock option and RSU will vest on June 12, 2024. The remaining shares subject to the option and the RSU shall vest as follows: 12.5% of the shares will vest on each of the next two quarterly vesting dates; 8.33% will vest on each of the four subsequent quarterly vesting dates, and 4.17% will vest on each of the four subsequent quarterly vesting dates, subject to Mr. Bacos’s continued service on each vesting date. The stock options and 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.
Stitch Fix, Inc. (NASDAQ:SFIX) announced the grant of stock options and restricted stock units to its Chief Product and Technology Officer, Tony Bacos.
How many stock options and restricted stock units were granted?
Stitch Fix, Inc. (NASDAQ:SFIX) granted 722,543 stock options and 361,272 restricted stock units.
Who received the stock options and restricted stock units?
The Chief Product and Technology Officer, Tony Bacos, received the stock options and restricted stock units.
What is the vesting schedule for the stock options and restricted stock units?
The stock options and restricted stock units have a vesting schedule over multiple quarterly dates.
Under which plan were the stock options and restricted stock units granted?
The options and RSUs were granted under the Stitch Fix, Inc. Amended and Restated 2019 Inducement Plan.
When were the options and RSUs granted?
The stock options and RSUs were granted in April 2022.
Why were the options and RSUs granted?
The options and RSUs were granted to induce new employees to join the company.
