Stitch Fix Insider Files Form 4: Option Exercise and 10b5-1 Sales
Rhea-AI Filing Summary
Anthony Bacos, Stitch Fix (SFIX) Chief Product/Technology Officer, reported option exercise and open-market sales executed under a Rule 10b5-1 plan. He exercised an employee stock option to acquire 60,000 Class A shares at an exercise price of $3.99 on 09/19/2025, increasing exercisable option holdings by 60,000 shares. On the same date he sold a total of 90,000 Class A shares in multiple transactions: 60,000 sold at a weighted average price of $5.6135 and 30,000 sold at a weighted average price of $5.6141, with the underlying sale prices ranging from $5.545 to $5.695 per share. Following these transactions he beneficially owns 602,543 Class A shares.
Positive
- 60,000 option shares were exercised at a $3.99 exercise price, increasing exercisable holdings
- Sales and exercise were executed under a Rule 10b5-1 plan, providing a pre-established framework for timing and limiting ad hoc trading concerns
Negative
- 90,000 Class A shares were sold on 09/19/2025, reducing immediate beneficial ownership (sales at weighted averages of $5.6135 and $5.6141)
- Reported sale prices span a range ($5.545 to $5.695), indicating multiple transactions rather than a single block sale
Insights
TL;DR: Insider exercised options and sold shares under a Rule 10b5-1 plan; net beneficial ownership remains materially disclosed.
The filing shows an option exercise for 60,000 shares at $3.99 and contemporaneous sales of 90,000 shares executed under a 10b5-1 plan, with reported sale prices between $5.545 and $5.695 per share. These are routine inside liquidity transactions rather than corporate disclosures affecting fundamentals. The report includes precise quantities and weighted-average sale prices and confirms the transactions were governed by a pre-established trading plan, which limits timing-based interpretation.
TL;DR: Transactions were executed under a Rule 10b5-1 plan, indicating preplanned insider activity and compliance with disclosure rules.
The Form 4 documents compliance with Section 16 reporting and cites a March 13, 2025 Rule 10b5-1 plan for both the option exercise and sales. The filing specifies vesting schedule details for the option and provides the weighted-average sale price range, which is helpful for transparency. No amendments or regulatory exceptions are noted; the signature is by an attorney-in-fact, which is standard practice.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (Right to Buy) | 60,000 | $0.00 | -- |
| Exercise | Class A Common Stock | 60,000 | $3.99 | $239K |
| Sale | Class A Common Stock | 60,000 | $5.6135 | $337K |
| Sale | Class A Common Stock | 30,000 | $5.6141 | $168K |
Footnotes (1)
- Shares were disposed of pursuant to a Rule 10b5-1 plan entered into on March 13, 2025. The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $5.545 to $5.695 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. Options were exercised pursuant to a Rule 10b5-1 plan entered into on March 13, 2025. 25% of the shares subject to the Option vested on June 12, 2024. The remaining shares subject to the Option shall vest as follows: 25% of the shares in equal quarterly installments over the next two (2) quarterly vesting dates; 33 1/3% of the shares in equal quarterly installments over the next four (4) quarterly vesting dates; and 16 2/3% of the shares in equal quarterly installments over the next four (4) quarterly vesting dates, subject to the Reporting Person's continuous service through each vesting date.
