Stitch Fix Announces New Employee Inducement Grant

Rhea-AI Summary

Stitch Fix, Inc. granted its Chief People Officer, Lillian Reaume, 509,091 restricted stock units (RSUs) to acquire company shares, with a vesting schedule spread over multiple quarterly dates. The RSUs were issued under the company's Amended and Restated 2019 Inducement Plan to incentivize new employee retention.

SAN FRANCISCO, April 05, 2024 (GLOBE NEWSWIRE) -- Stitch Fix, Inc. (NASDAQ:SFIX), the leading online personal styling service, today announced that effective April 2, 2024, the compensation committee of the company’s board of directors granted Lillian Reaume, Chief People Officer, restricted stock units (RSUs) to acquire 509,091 shares of the company’s Class A common stock. One fourth (25%) of the RSUs will vest on September 11, 2024. The remaining shares subject to 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 Ms. Reaume’s continued 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 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:	PR Contact:
Hayden Blair	Kathryn Hull
ir@stitchfix.com	media@stitchfix.com

What type of stock units did Stitch Fix grant to Lillian Reaume?

Stitch Fix granted restricted stock units (RSUs) to Lillian Reaume.

How many shares of the company's Class A common stock can Lillian Reaume acquire?

Lillian Reaume can acquire 509,091 shares of the company's Class A common stock.

What is the vesting schedule for the RSUs granted to Lillian Reaume?

One fourth (25%) of the RSUs will vest on September 11, 2024, with subsequent vesting spread over multiple quarterly dates.

Under which plan were the RSUs granted to Lillian Reaume?

The RSUs were granted under the Stitch Fix, Inc. Amended and Restated 2019 Inducement Plan.

Why were the RSUs granted to Lillian Reaume?

The RSUs were granted to incentivize new employee retention under Rule 5635(c)(4) of the Nasdaq Global Market.