Stitch Fix (SFIX) CLO Casey O'Connor Exercises PSUs; Shares Withheld

What Happened

• Casey O'Connor, Chief Legal Officer of Stitch Fix (SFIX), had performance stock units (PSUs) convert into common shares on September 16, 2026. The filing shows 25,284 shares acquired upon conversion. Concurrently, 25,999 shares were withheld by the company to satisfy tax withholding obligations, with the withheld shares reported at $2.94 each for a total withholding value of $76,437.
• The conversion entries report an exercise/conversion price of $0 for the PSUs (i.e., no cash paid to convert PSUs into shares).

Key Details

• Transaction date: 2026-09-16; filing date: 2026-09-18 (filed within the Form 4 reporting window).
• Reported entries: M (exercise/conversion of derivative) — 25,284 shares acquired; F (tax withholding) — 25,999 shares withheld/disposed at $2.94 each for $76,437; an additional M line lists 25,284 shares at $0 (reflecting the derivative conversion/settlement).
• Shares owned after the transaction: Not disclosed in this Form 4.
• Relevant footnotes: F1 — each PSU converts into one share; F2 — shares were withheld to satisfy tax withholding; F3 — the PSU performance condition was achieved and these awards vest per the stated service schedule (5/12 vested Dec 17, 2025; remaining vest quarterly in 1/12 installments over the next 7 quarters).

Context

• This was a vesting/settlement of PSUs, not an open-market purchase or a discretionary sale; the withholding of shares to cover taxes is a routine "sell-to-cover" / tax-withholding practice and reduces the net shares delivered to the insider. No late filing was indicated.