O'Connor Casey 4

What Happened

Casey O'Connor, Chief Legal Officer of Stitch Fix (SFIX), had performance-based equity convert/vest and was issued shares on June 17, 2026. The filing shows 25,283 shares from a derivative conversion (PSUs) and, separately, 25,999 shares were withheld by the company to satisfy tax withholding obligations, generating $108,156 at a reported withholding price of $4.16 per share. A separate derivative line shows the 25,283 shares reported as a conversion/disposition at $0 (reporting convention for vested awards).

Key Details

• Transaction date: 2026-06-17; Form 4 filed: 2026-06-22 (file appears late under the standard 2-business-day rule).
• Converted/vested: 25,283 shares (PSUs converted to common stock).
• Tax withholding/disposed: 25,999 shares withheld @ $4.16 = $108,156 reported proceeds. (Code F = tax withholding)
• Footnotes:
  • F1: Each PSU represents a contingent right to one share of Class A common stock.
  • F2: Withheld shares were used to satisfy tax withholding on vesting.
  • F3: The PSU performance condition has been satisfied; 5/12 vested on Dec 17, 2025 and the remainder vests in quarterly 1/12 installments over the next seven quarters.
• Shares owned after the transaction: Not disclosed in the Form 4 provided.

Context

This was a compensation-related vesting/conversion of performance stock units (PSUs), not an open-market purchase or voluntary sale by the insider. The company withholding shares to cover taxes is routine (often called share withholding or a cashless-withholding method) and is commonly reported as a disposition on Form 4. The filing was submitted five days after the transaction date, which appears late relative to the typical 2-business-day reporting requirement.