Baer Matt 4

What Happened

• Matt Baer, CEO of Stitch Fix (SFIX), converted/exercised 61,454 performance stock units (PSUs) that vested on March 18, 2026. The PSU conversion shows a $0 exercise price (conversion of derivative), and the company withheld/sold 77,818 shares to satisfy tax withholding, generating proceeds of $248,239 at $3.19 per share. These transactions represent compensation-related vesting/conversion rather than an open-market purchase.

Key Details

• Transaction date: March 18, 2026; Form 4 filed March 20, 2026 (filed within the normal reporting window).
• Actions reported: Conversion/exercise of derivative (code M) for 61,454 shares; tax withholding/share-for-tax payment (code F) of 77,818 shares at $3.19 for $248,239.
• Reported prices/values: PSU conversion listed at $0.00 (derivative conversion); withheld shares disposed at $3.19 each, total $248,239.
• Shares owned after transaction: Not disclosed in the provided filing excerpt.
• Footnotes of note:
  • F1: Each PSU represents a contingent right to one share of Class A common stock.
  • F2: The 77,818 shares were withheld by the company to satisfy tax withholding in connection with RSU vesting.
  • F3: The PSU performance condition was achieved; 5/12 vested Dec 17, 2025 and the remainder vests in quarterly installments (1/12) over the next seven quarterly dates.
• Filing timeliness: Filed March 20, 2026 for the March 18, 2026 transaction — appears to be timely (not flagged late).

Context

• This was a compensation-related conversion/vesting event, not a market buy that would signal new insider accumulation. The withholding of shares to cover taxes is a common net-settlement practice (company retains or sells shares to satisfy withholding obligations). The PSU conversion reflects earned equity tied to long-term performance and service vesting per the footnote schedule.