Rust Jay 4

What Happened

• Jay Rust, Executive Vice President of Human Resources at Abercrombie & Fitch (ANF), had 1,949 restricted stock units (RSUs) convert into common shares on 2026-03-23. The RSUs had no exercise price (recorded as $0.00).
• To satisfy tax withholding, 870 of those shares were surrendered at an effective price of $87.51 per share, a withholding value of $76,134. After withholding, Rust retained a net of 1,079 shares from the conversion.
• This was a routine conversion/vesting and tax-withholding event rather than an open-market purchase or opportunistic sale.

Key Details

• Transaction date: 2026-03-23; Form 4 filed 2026-03-25 (timely filing).
• Conversion (code M): 1,949 RSUs converted to 1,949 shares @ $0.00.
• Tax withholding (code F): 870 shares surrendered @ $87.51 = $76,134.
• Net shares retained from this vesting: 1,079 shares.
• Footnotes: F1 — each RSU equals a contingent right to one common share. F2 — RSUs vest one-third per year starting one year after grant.
• No indication of a 10b5-1 plan or late filing in this report.

Context

• The transactions reflect RSU vesting and standard tax withholding (a common, non-speculative insider event). The $0.00 exercise price indicates these were RSUs rather than stock options requiring cash exercise.
• Because shares were withheld to cover taxes, this is not a market sale by the insider and does not necessarily indicate a change in sentiment about the company.