Stitch Fix Announces New Employee Inducement Grant
SAN FRANCISCO, Dec. 17, 2021 (GLOBE NEWSWIRE) -- Stitch Fix, Inc. (NASDAQ:SFIX), the leading online personal styling service, today announced that effective December 14, 2021, the compensation committee of the company’s board of directors granted Linda Aiello the option to purchase 315,347 shares of the company’s Class A common stock, at a per share exercise price of $18.50, and restricted stock units to acquire 52,558 shares of the company’s Class A common stock. The stock options vest over three years, with one sixth of the shares vesting on the six-month anniversary of Ms. Aiello’s grant date and the remainder vesting in equal monthly installments thereafter, subject to Ms. Aiello’s continued service on each vesting date. The restricted stock units vest over three years, with one sixth of the shares vesting on June 15, 2022, and the remainder vesting in equal quarterly installments thereafter, subject to Ms. Aiello’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 the world’s leading online personalized shopping experience. Our unique business model combines the human touch of expert Stylists with the precision of advanced data science. Since our founding in 2011, we’ve served as a trusted style partner to millions of people, helping adults and kids get dressed every day feeling like their best selves. The Stitch Fix team is building a transformative and inclusive ecommerce model, an ecosystem of shopping experiences based on convenience and guided discovery that makes it radically simple and delightful for customers to discover and buy what they love. For more, visit https://www.stitchfix.com.
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