Baer Matt 4

What Happened

• Matt Baer, CEO of Stitch Fix (SFIX), converted/exercised derivative awards into common stock on June 17, 2026. The Form 4 reports 61,454 shares acquired via exercise/conversion and a related entry showing 61,454 derivative shares reported at $0. To satisfy tax withholding, the company withheld 107,594 shares at $4.16 each, valued at $447,591. These were tax-withholding dispositions, not open-market sales.

Key Details

• Transaction date: June 17, 2026; Form 4 filed June 22, 2026 (filed after the standard 2-business-day window).
• Reported entries and codes: M = exercise/conversion of derivative (61,454 shares acquired; additional M entry shows 61,454 shares at $0), F = shares withheld to satisfy tax withholding (107,594 shares disposed at $4.16, proceeds $447,591).
• Shares owned after the transactions: not specified in the provided filing excerpt.
• Relevant footnotes:
  • F1: Each Performance Stock Unit (PSU) converts to one share of Class A common stock.
  • F2: Withheld shares represent shares retained by the company to cover tax obligations on vesting restricted stock units (RSUs).
  • F3: PSU performance condition was achieved; vesting schedule noted (5/12 vested Dec 17, 2025; remaining vest in 1/12 quarterly installments over seven quarters).
• Filing timeliness: The Form 4 was filed 5 calendar days after the transaction date (appears late relative to the usual 2-business-day deadline).

Context

• This was not an open-market sale by the CEO — the larger share movement reflects conversion/vesting and company withholding to cover taxes (a routine administrative action), rather than a market-directed disposition. For derivative transactions: "M" indicates exercise/conversion of awards into shares; "F" indicates shares were surrendered/withheld to satisfy tax liabilities.