Warby Parker (NYSE: WRBY) co-CEO reports 50,000-share stock sale
Rhea-AI Filing Summary
Warby Parker Inc. co-CEO and director Neil Blumenthal reported a planned stock transaction involving the company’s dual-class shares. On 01/07/2026 he converted 50,000 shares of Class B Common Stock into 50,000 shares of Class A Common Stock at an exercise price of $0, then sold those 50,000 Class A shares at an average price of $27.08 under a Rule 10b5-1 trading plan adopted on September 16, 2025. Following the sale, he directly held 37,119 shares of Class A Common Stock and 3,099,271 shares of Class B Common Stock.
In addition to his direct holdings, various trusts associated with him report indirect ownership of additional Class B and Class A shares. The filing notes that each share of Class B Common Stock is convertible into one share of Class A Common Stock at any time at the holder’s option, and will automatically convert in certain circumstances, including transfers outside permitted ownership groups or by specified dates and employment or board-status changes, with one key trigger date being October 1, 2031.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Class B Common Stock | 50,000 | $0.00 | -- |
| Conversion | Class A Common Stock | 50,000 | $0.00 | -- |
| Sale | Class A Common Stock | 50,000 | $27.08 | $1.35M |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Footnotes (1)
- These share sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 16, 2025. The price reported in Column 4 is an average execution price rounded to the nearest hundredth. These shares were sold in multiple transactions at prices ranging from $26.99 to $27.23 inclusive. 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 purchased at each separate price. The Class B Common Stock is convertible at any time at the option of the holder into the Issuer's Class A Common Stock on a one-to-one basis. The Class B Common Stock will automatically convert into shares of the Issuer's Class A Common Stock on a one-to-one basis upon the earlier of (i) transfer of Class B Common Stock to a person or entity that is not in the transferor's permitted ownership group, (ii) October 1, 2031, (iii) with respect to any Class B Common Stock held by any person or entity in Neil Blumenthal's permitted ownership group, (A) such time as Neil Blumenthal is removed or resigns from the board of directors, or otherwise ceases to serve as a director, (B) such time as Neil Blumenthal ceases to be either an employee, officer or consultant of the Company or any of its subsidiaries, or (C) the date that is 12 months after the death or disability of Neil Blumenthal, and (iv) with respect to any Class B common stock held by any person or entity in Dave Gilboa's permitted ownership group, (A) such time as Dave Gilboa is removed or resigns from the board of directors, or otherwise ceases to serve as a director, (B) such time as Dave Gilboa ceases to be either an employee, officer or consultant of the Company or any of its subsidiaries, or (C) the date that is 12 months after the death or disability of Dave Gilboa.
FAQ
What insider transaction did WRBY co-CEO Neil Blumenthal report?
Neil Blumenthal reported that on 01/07/2026 he converted 50,000 shares of Class B Common Stock into 50,000 shares of Class A Common Stock and then sold those 50,000 Class A shares at an average price of $27.08.
Was the Warby Parker (WRBY) stock sale made under a Rule 10b5-1 plan?
Yes. The filing states that the share sales were effected pursuant to a Rule 10b5-1 trading plan adopted by Neil Blumenthal on September 16, 2025.
How does Warby Parker’s Class B Common Stock convert into Class A stock?
The filing explains that each share of Class B Common Stock is convertible into one share of Class A Common Stock at any time at the holder’s option, and will automatically convert upon specified events including certain transfers, changes in board or employment status, and by October 1, 2031.