Stitch Fix Announces New Employee Inducement Grant

SAN FRANCISCO, May 17, 2024 (GLOBE NEWSWIRE) -- Stitch Fix, Inc. (NASDAQ:SFIX), the leading online personal styling service, today announced that effective May 15, 2024, the compensation committee of the company’s board of directors granted restricted stock units (RSUs) to one new employee to acquire 118,722 shares of the company’s Class A common stock. One fourth of these restricted stock units will vest on June 12, 2024, and the remainder will vest in 3 equal quarterly installments of 1/4th over the next three subsequent quarterly RSU vesting dates, subject to the recipient's continuous service on each vesting date. The 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.

About Stitch Fix, Inc.

Stitch Fix combines the human touch of expert stylists with the precision of advanced data science to make online personal styling accessible to everyone. Stitch Fix helps millions of clients across the United States find clothing and accessories they love through a unique model that can extend far beyond the closet to define the future of shopping. For more, visit https://www.stitchfix.com.

Source: Stitch Fix, Inc.