Stitch Fix Announces New Employee Inducement Grant
SAN FRANCISCO, Jan. 31, 2020 (GLOBE NEWSWIRE) -- Stitch Fix, Inc. (NASDAQ:SFIX), the leading online personal styling service, today announced that effective January 27, 2020, the compensation committee of the company’s board of directors granted Elizabeth Spaulding, President, the option to purchase 714,903 shares of the company’s Class A common stock, at a per share exercise price of $22.26, and restricted stock units to acquire 318,598 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. Spaulding’s start date and the remainder vesting in equal monthly installments thereafter, subject to Ms. Spaulding’s continued service on each vesting date. The restricted stock units vest over four years, with one eighth of the shares vesting on September 16, 2020, and the remainder vesting in equal quarterly installments thereafter, subject to Ms. Spaulding’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.
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