[Form 4] Stitch Fix, Inc. Insider Trading Activity

Rhea-AI Filing Summary

On 22-23 Jul 2025, Stitch Fix (SFIX) director Katrina Lake reported multiple insider transactions under a Rule 10b5-1 plan.

• Exercised 200,000 employee stock options at an exercise price of $3.64.
• Converted 404,600 Class B shares to Class A.
• Transferred 200,000 shares to the Clifford-Lake Revocable Trust.
• Sold a combined 604,600 Class A shares at weighted-average prices of $5.0568 (22 Jul) and $5.1846 (23 Jul).

The spread between the $3.64 exercise price and the ~$5.1 sale prices implies a gross gain of roughly $1.4 per share. Following the transactions, Lake directly owns 200,000 Class A shares and indirectly holds 7.81 million Class B shares via trusts, preserving significant voting power. While the sizeable sales trim her liquid Class A position, her continued large indirect stake moderates governance risk; overall signal is modestly negative for near-term sentiment.

Insights

Securities Analyst

TL;DR Large insider sale offsets option exercise; short-term bearish but long-term alignment intact.

The filing shows net disposition of 604.6 k Class A shares (~$3.05 m gross). Although some sales funded option exercises, the volume represents ~8 days of SFIX average trading volume, potentially creating overhang. Lake retains 7.8 m Class B shares (super-voting), so control is unaffected. Historically, insider sales of this magnitude correlate with muted near-term performance. Impact: mildly negative.

Corporate Governance Expert

TL;DR Voting control unchanged; sales executed via pre-planned 10b5-1 lessen governance concern.

Because transactions were made under a 10b5-1 plan adopted 7 Jan 2025, motive is less likely to reflect non-public information. The trust structure keeps economic alignment high—Lake still owns >20 % of voting power. From a governance lens the activity is neutral, though investors should watch for further sales that chip away at economic exposure.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Lake Katrina

(Last) (First) (Middle)

ONE MONTGOMERY TOWER SUITE 1100

(Street)

SAN FRANCISCO CA 94104

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Stitch Fix, Inc. [ SFIX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/22/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	07/22/2025		M(1)		150,000	A	$3.64	150,000	D
Class A Common Stock	07/22/2025		M(1)		50,000	A	$3.64	200,000	D
Class A Common Stock	07/22/2025		G(2)		200,000	D	$3.64	0	D
Class A Common Stock	07/22/2025		G(2)		200,000	A	$3.64	200,000	I	John C. Clifford and Katrina M. Lake Revocable Trust dated May 23, 2016(3)
Class A Common Stock	07/22/2025		S(4)		200,000	D	$5.0568(5)	0	I	John C. Clifford and Katrina M. Lake Revocable Trust dated May 23, 2016(3)
Class A Common Stock	07/22/2025		C(6)		253,485	A	$0	253,485	I	Katrina M. Lake Revocable Trust(7)
Class A Common Stock	07/22/2025		S(4)		253,485	D	$5.0649(5)	0	I	Katrina M. Lake Revocable Trust(7)
Class A Common Stock	07/23/2025		C(6)		151,115	A	$0	151,115	I	Katrina M. Lake Revocable Trust(7)
Class A Common Stock	07/23/2025		S(4)		151,115	D	$5.1846(8)	0	I	Katrina M. Lake Revocable Trust(7)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (Right to Buy)	$3.64	07/22/2025		M(1)			150,000	06/26/2023	01/05/2033	Class A Common Stock	150,000	$3.64	0	D
Employee Stock Option (Right to Buy)	$3.64	07/22/2025		M(1)			50,000	06/26/2023	01/05/2033	Class A Common Stock	50,000	$3.64	0	D
Class B Common Stock	(9)	07/22/2025		C(6)			253,485	(9)	(9)	Class A Common Stock	253,485	$0	7,963,403	I	Katrina M. Lake Revocable Trust(7)
Class B Common Stock	(9)	07/23/2025		C(6)			151,115	(9)	(9)	Class A Common Stock	151,115	$0	7,812,288	I	Katrina M. Lake Revocable Trust(7)

Explanation of Responses:

1. Options were exercised pursuant to a Rule 10b5-1 plan entered into on January 7, 2025.

2. Shares transferred to The John C. Clifford and Katrina M. Lake Revocable Trust dated May 23, 2016.

3. The shares are held by John C. Clifford and Katrina M. Lake, Trustees of the John C. Clifford and Katrina M. Lake Revocable Trust dated May 23, 2016.

4. Shares were disposed of pursuant to a Rule 10b5-1 plan entered into on January 7, 2025.

5. The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $5.00 to $5.165 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

6. Represents the conversion of Class B Common Stock into Class A Common Stock held of record by the Reporting Person.

7. The shares are held by Katrina M. Lake, Trustee of The Katrina M. Lake Revocable Trust dated May 23, 2016.

8. The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $5.0601 to $5.32 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

9. Each share of Class B Common Stock is convertible into one share of Class A Common Stock at the option of the holder and has no expiration date.

Remarks:

	/s/ Casey O'Connor Attorney-in-Fact for Katrina Lake	07/24/2025
	** Signature of Reporting Person	Date
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