Rent the Runway: 10% owner CHS US Investments exercised 22,442,565 shares

What happened CHS US Investments LLC, a 10% owner, exercised or converted derivatives on Oct 14, 2026, resulting in acquisition of 2,495,391 shares at $3.55 per share for $8,858,638 and conversion/disposition of 19,947,174 shares at $0.00.

Key details

• Transaction date and prices: Oct 14, 2026 — 2,495,391 shares acquired at $3.55 (code M); 19,947,174 shares converted/disposed at $0.00 (code M, derivative).
• Shares owned after the transaction: CHS US Investments directly holds 22,479,047 shares of Class A common stock, per the filing.
• Footnote: APS US Management is investment manager of CHS US Investments; CHS GP LP, CHS UGP LLC and CHS Platform are related entities and disclaim beneficial ownership except to the extent of any indirect pecuniary interest.
• Filing timeliness: the filing does not indicate a late filing.

Why it may matter

• These were derivative exercises/conversions: 2,495,391 shares were acquired for cash at $3.55 per share; 19,947,174 shares were converted/disposed at $0.00 as part of the derivative transaction.
• CHS US Investments is a 10% owner (a large holder, not an executive), per the filing. A filing does not show why the insider traded or why the company acted.