802K RSUs granted to Rent the Runway (RENT) Executive Chair Fonseca
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Fonseca Dhiren R. reported acquisition or exercise transactions in this Form 4 filing.
Rent the Runway, Inc. reported that Executive Chair Dhiren R. Fonseca received a grant of 802,395 restricted stock units (RSUs). Each RSU represents one share of Class A common stock. The award was granted as a material inducement to commence employment, with 25% vesting on October 28, 2026 and the remaining 75% vesting in 6.25% quarterly installments thereafter.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Fonseca Dhiren R.
Role
Executive Chair
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 802,395 | $0.00 | -- |
Holdings After Transaction:
Restricted Stock Units — 802,395 shares (Direct)
Footnotes (1)
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FAQ
What insider transaction did Rent the Runway (RENT) report for Dhiren R. Fonseca?
Rent the Runway reported that Executive Chair Dhiren R. Fonseca received a grant of 802,395 restricted stock units. Each RSU represents one share of Class A common stock and reflects an equity-based component of his compensation package as he begins employment.
How many RSUs did Rent the Runway (RENT) grant to its Executive Chair?
Rent the Runway granted 802,395 restricted stock units to Executive Chair Dhiren R. Fonseca. These units provide the right to receive an equal number of Class A common shares, subject to the specified vesting schedule tied to his continued service with the company.
What is the vesting schedule for the 802,395 RSUs at Rent the Runway (RENT)?
The RSUs vest 25% on October 28, 2026, with the remaining 75% vesting in 6.25% quarterly installments thereafter. This creates a multi-year vesting horizon designed to align Executive Chair Dhiren R. Fonseca’s incentives with long-term company performance and retention.
Why were the RSUs to Dhiren R. Fonseca granted outside Rent the Runway’s 2021 plan?
The RSUs were granted outside Rent the Runway’s Second Amended and Restated 2021 Incentive Award Plan under Nasdaq Listing Rule 5635(c)(4). They are described as a material inducement for Dhiren R. Fonseca to commence employment, providing additional flexibility beyond the existing equity plan.
What does each RSU granted by Rent the Runway (RENT) to its Executive Chair represent?
Each restricted stock unit represents a contingent right to receive one share of Rent the Runway’s Class A common stock. The units convert into shares only as they vest over time, linking equity delivery to the Executive Chair’s continued service and vesting milestones.
Is the RSU grant to Rent the Runway (RENT) Executive Chair an open-market purchase or sale?
No, the RSU grant is not an open-market purchase or sale. It is a stock-based compensation award issued by the company at no cash cost per unit, recorded as an acquisition of derivative securities under the Form 4 transaction code for grants or awards.