Stitch Fix Announces New Employee Inducement Grant
December 13 2019 - 4:05PM
Stitch Fix, Inc. (NASDAQ:SFIX), the leading online personal styling
service, today announced that effective December 11, 2019, the
compensation committee of the company’s board of directors granted
Loretta Choy, General Manager of Stitch Fix Women, the option to
purchase 143,216 shares of the company’s Class A common stock, at a
per share exercise price of $27.55, and restricted stock units to
acquire 83,659 shares of the company’s Class A common stock. The
stock options vest over four years, with one eighth of the shares
vesting on the six-month anniversary of Ms. Choy’s start date and
the remainder vesting in equal monthly installments thereafter,
subject to Ms. Choy’s continued service on each vesting date. The
restricted stock units vest over four years, with one eighth of the
shares vesting on June 17, 2020, and the remainder vesting in equal
quarterly installments thereafter, subject to Ms. Choy’s continued
service on each vesting date. The stock options and restricted
stock units were granted pursuant to, and are subject to the terms
of, the Stitch Fix, Inc. 2019 Inducement Plan and forms of stock
option and restricted stock unit agreements thereunder, which were
approved by the company's board of directors in October 2019 under
Rule 5635(c)(4) of the Nasdaq Global Market for equity grants to
induce new employees to enter into employment with the company.
About Stitch Fix, Inc.Stitch
Fix is reinventing the shopping experience by delivering one-to-one
personalization to our clients, through the combination of data
science and human judgment. Stitch Fix was founded in 2011 by CEO
Katrina Lake. Since our founding, we’ve helped millions of men,
women, and kids discover and buy what they love through
personalized shipments of apparel, shoes, and accessories,
hand-selected by Stitch Fix stylists and delivered to our clients’
homes.
IR Contact:
David Pearce
ir@stitchfix.com
PR Contact:
Suzy Sammons
media@stitchfix.com
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