Lovesac (LOVE) CEO boosts stake as performance RSUs vest and unearned units forfeit
Rhea-AI Filing Summary
Lovesac Co Chief Executive Officer Shawn David Nelson reported a set of compensation-related equity transactions involving performance-based restricted stock units and common stock. On March 18, 2026, portions of three tranches of performance-based RSUs granted in April 2023, June 2024, and April 2025 vested, and the corresponding RSUs were exercised into common shares. The filing shows he acquired a total of 29,311 shares of common stock through these derivative exercises at a stated price of $0.0000 per share. Unearned balances from each performance grant were forfeited back to Lovesac, reflected as dispositions of RSUs to the issuer. After these transactions, Nelson holds 198,371 shares of Lovesac common stock directly and an additional 52,094 shares indirectly through The LDPV Holding Trust, for which a footnote states he has sole authority over share disposition. No open-market purchases or sales are reported in this filing, underscoring that the activity is tied to equity incentive vesting rather than discretionary trading.
Positive
- None.
Negative
- None.
Insights
CEO equity changes stem from performance RSU vesting and forfeiture, not open-market trading.
The transactions show Lovesac CEO Shawn David Nelson receiving common shares as performance-based RSUs vested from grants dated April 15, 2023, June 11, 2024, and April 15, 2025. He exercised RSUs into 29,311 shares of common stock at a stated price of $0.0000 per share.
At the same time, unearned portions of these performance awards were forfeited back to Lovesac, disclosed as dispositions of RSUs to the issuer. This pattern reflects standard performance-vesting mechanics rather than discretionary selling, as there are no open-market sale codes or sale prices reported.
Following the transactions, Nelson holds 198,371 shares directly and 52,094 shares indirectly via The LDPV Holding Trust, where a footnote notes he has sole authority over share disposition. Subsequent filings may provide further detail on future vesting outcomes for remaining equity awards.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units (Performance-based Vesting) | 4,504 | $0.00 | -- |
| Disposition | Restricted Stock Units (Performance-based Vesting) | 5,192 | $0.00 | -- |
| Exercise | Restricted Stock Units (Performance-based Vesting) | 9,106 | $0.00 | -- |
| Disposition | Restricted Stock Units (Performance-based Vesting) | 510 | $0.00 | -- |
| Exercise | Restricted Stock Units (Performance-based Vesting) | 15,701 | $0.00 | -- |
| Disposition | Restricted Stock Units (Performance-based Vesting) | 1,365 | $0.00 | -- |
| Exercise | Common Stock, $0.00001 par value | 4,504 | $0.00 | -- |
| Exercise | Common Stock, $0.00001 par value | 9,106 | $0.00 | -- |
| Exercise | Common Stock, $0.00001 par value | 15,701 | $0.00 | -- |
| holding | Common Stock, $0.00001 par value | -- | -- | -- |
Footnotes (1)
- Each restricted stock unit ("RSU") represents the contingent right to receive, upon vesting and settlement of the RSU, one share of the Issuer's common stock. The reported shares are held by The LDPV Holding Trust, dated October 1, 2018, of which the reporting person's spouse is trustee and the reporting person has sole authority over the disposition of the shares of the Issuer held by the trust. The reported shares were acquired upon the vesting of a portion of the third tranche of performance-based RSUs granted on April 15, 2023. The unearned balance of performance-based RSUs from this grant were forfeited. The reported shares were acquired upon the vesting of a portion of the second tranche of performance-based RSUs granted on June 11, 2024. The unearned balance of performance-based RSUs from this tranche were forfeited. The reported shares were acquired upon the vesting of a portion of the first tranche of performance-based RSUs granted on April 15, 2025. The unearned balance of performance-based RSUs from this tranche were forfeited.
