Stitch Fix Announces New Employee Inducement Grants

Rhea-AI Summary

Stitch Fix, Inc. (NASDAQ:SFIX) granted 283,588 restricted stock units (RSUs) to two new employees, with vesting schedules over the next three quarterly RSU vesting dates, subject to continuous service. The RSUs were granted under the company's Amended and Restated 2019 Inducement Plan approved by the board of directors in April 2022.

SAN FRANCISCO, Dec. 15, 2023 (GLOBE NEWSWIRE) -- Stitch Fix, Inc. (NASDAQ:SFIX), the leading online personal styling service, today announced that effective December 15, 2023, the compensation committee of the company’s board of directors granted restricted stock units (RSUs) to two new employees to acquire an aggregate of 283,588 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

What is the recent announcement from Stitch Fix, Inc. (NASDAQ:SFIX)?

Stitch Fix, Inc. (NASDAQ:SFIX) granted 283,588 restricted stock units (RSUs) to two new employees.

How many shares of the company's Class A common stock were granted?

The company granted 283,588 shares of its Class A common stock.

What is the vesting schedule for the restricted stock units?

One fourth of the RSUs will vest on March 13, 2024, and the remainder will vest in 3 equal quarterly installments over the next three subsequent quarterly RSU vesting dates, subject to the recipient's continuous service.

Under which plan were the RSUs granted?

The RSUs were granted under the Stitch Fix, Inc. Amended and Restated 2019 Inducement Plan approved by the company's board of directors in April 2022.

What is the purpose of the RSU grants?

The RSUs were granted to induce new employees to enter into employment with the company under Rule 5635(c)(4) of the Nasdaq Global Market for equity grants.