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

Rhea-AI Filing Summary

Stitch Fix director Katrina M. Lake reported conversions of Class B into Class A shares and subsequent sales executed under a Rule 10b5-1 plan. The filing shows conversion of 51,205 Class B shares (held in a revocable trust) into 51,205 Class A shares and conversion of 101,150 Class B shares into 101,150 Class A shares. Those converted Class A shares were sold under a prearranged 10b5-1 plan at weighted average prices of $5.0433 and $5.0706 per share, respectively, reducing those particular trust holdings to zero. After the transactions, the Katrina M. Lake Revocable Trust retained beneficial indirect ownership of 7,609,988 Class A shares.

Positive

• Sales executed under a Rule 10b5-1 plan, providing prearranged trading defense against insider trading claims
• Full disclosure of trust ownership structures and weighted average sale prices enhances transparency

Negative

• Significant disposals from two revocable trusts reduced those trust holdings to zero, which may be viewed negatively by some investors
• Sales occurred at relatively low weighted average prices ($5.0433 and $5.0706 per share), potentially signaling liquidity needs or reduced insider conviction at those tranches

Insights

Corporate Governance Expert

TL;DR: Insider converted voting Class B shares to Class A and sold converted shares under a 10b5-1 plan; transactions appear prearranged and routine.

The report documents a conversion of Class B into Class A shares and disposals made pursuant to a Rule 10b5-1 trading plan, which provides an affirmative defense against insider trading claims when properly adopted. The sales used weighted average prices reported between $5.00 and $5.18 per share across transactions. The filing discloses indirect holdings via two revocable trusts and shows particular trust tranches reduced to zero following the sales, while substantial indirect ownership remains aggregated at 7,609,988 Class A shares. From a governance perspective, the use of a 10b5-1 plan reduces legal risk but should be timed and disclosed carefully to avoid perception issues.

Securities Analyst

TL;DR: Director-level sales under a pre-set plan reduced certain trust holdings to zero, while overall indirect holdings remain material.

The filing quantifies conversions and sales: 51,205 and 101,150 Class B shares were converted and then sold as Class A at weighted average prices of $5.0433 and $5.0706, respectively. The report identifies the sellers as shares held in two revocable trusts, and indicates those specific trust holdings were fully disposed. The remaining indirect beneficial ownership of 7,609,988 Class A shares indicates the reporting person retains significant economic interest despite these dispositions. These transactions are transactional in nature and disclosed as executed under a 10b5-1 plan, suggesting preauthorization rather than opportunistic trading.

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
Estimated average burden
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).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

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)
09/02/2025

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	09/02/2025		C(1)		51,205	A	$0	51,205	I	John C. Clifford and Katrina M. Lake Revocable Trust dated May 23, 2016(2)
Class A Common Stock	09/02/2025		S(3)		51,205	D	$5.0433(4)	0	I	John C. Clifford and Katrina M. Lake Revocable Trust dated May 23, 2016(2)
Class A Common Stock	09/02/2025		C(1)		101,150	A	$0	101,150	I	Katrina M. Lake Revocable Trust(5)
Class A Common Stock	09/02/2025		S(3)		101,150	D	$5.0706(6)	0	I	Katrina M. Lake Revocable Trust(5)

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
Class B Common Stock	(7)	09/02/2025		C(1)			51,205	(7)	(7)	Class A Common Stock	51,205	$0	0	I	John C. Clifford and Katrina M. Lake Revocable Trust dated May 23, 2016(2)
Class B Common Stock	(7)	09/02/2025		C(1)			101,150	(7)	(7)	Class A Common Stock	101,150	$0	7,609,988	I	Katrina M. Lake Revocable Trust(5)

Explanation of Responses:

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

2. 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.

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

4. 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 $5.11 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.

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

6. 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 $5.18 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.

7. 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	09/04/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transactions did Katrina M. Lake report on the Form 4 for SFIX?

She reported conversions of Class B into Class A shares and subsequent sales of those converted Class A shares executed under a Rule 10b5-1 plan.

How many shares were converted and sold according to the filing?

51,205 Class B shares were converted and sold, and 101,150 Class B shares were converted and sold, with the converted Class A shares disposed.

At what prices were the sold shares reported?

Weighted average sale prices were $5.0433 per share for one block and $5.0706 per share for the other, with sale price ranges reported between $5.00 and $5.18.

Did the trusts retain any holdings after these transactions?

The specific trust tranches that were sold show zero remaining shares, while the Katrina M. Lake Revocable Trust is reported to have indirect beneficial ownership of 7,609,988 Class A shares overall.

Were the sales prearranged or discretionary?

The sales were made pursuant to a Rule 10b5-1 plan entered into on January 7, 2025, indicating they were prearranged.