Stitch Fix Announces New Employee Inducement Grant

SAN FRANCISCO, Dec. 12, 2023 (GLOBE NEWSWIRE) — Stitch Fix, Inc. (NASDAQ:SFIX), the leading online personal styling service, today announced that effective December 8, 2023, the compensation committee of the company’s board of directors granted Tony Bacos, Chief Product and Technology Officer, the option to purchase 722,543 shares of the company’s Class A common stock, at a per share exercise price of $3.99, and restricted stock units (RSUs) to acquire 361,272 shares of the company’s Class A common stock. One fourth (25%) of the stock option and RSU will vest on June 12, 2024. The remaining shares subject to the option and the RSU shall vest as follows: 12.5% of the shares will vest on each of the next two quarterly vesting dates; 8.33% will vest on each of the four subsequent quarterly vesting dates, and 4.17% will vest on each of the four subsequent quarterly vesting dates, subject to Mr. Bacos’s continued service on each vesting date. The stock options and RSUs were granted pursuant to, and are subject to the terms of, the Stitch Fix, Inc. Amended and Restated 2019 Inducement Plan and forms of stock option and RSU agreements thereunder, which were approved by the company’s board of directors in April 2022 under Rule 5635(c)(4) of the Nasdaq Global Market for equity grants to induce new employees to enter into employment with the company.

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