Henry Michael 4

What Happened

Henry Michael, Chief Financial Officer of Tilly's, was granted a derivative award of 40,000 shares (options) on April 1, 2026. The grant was reported at $0.00 per share (no cash paid). Per the filing footnote, the options vest in four equal annual installments on each of the next four anniversaries of the April 1, 2026 grant date, subject to continued employment.

Key Details

• Transaction date: 2026-04-01
• Transaction type/code: Grant/Award (derivative) — Code A
• Amount: 40,000 shares (options) at $0.00 reported price; total reported cash = $0
• Vesting: Four equal annual installments on the next four anniversaries of 4/1/2026 (footnote F1)
• Shares owned after transaction: Not specified in the filing
• Filing date: 2026-04-01 (filed contemporaneously; no late filing indicated)
• Other notes: No 10b5-1 plan, tax withholding, or immediate sale reported

Context

This was a compensation grant (options) rather than a market purchase or sale. Such awards are common for executive retention and incentive pay; they do not represent an immediate cash investment or sale by the insider. Because these are unexercised derivative awards that vest over time, they only become tradable or valuable to the insider if and when vesting and any exercise conditions are met.