Stitch Fix (SFIX) CEO Matt Baer Exercises PSUs; 115K Shares Withheld

What Happened

• Matt Baer, CEO of Stitch Fix, had performance-based equity convert to common stock on 2026-09-16. The filing shows an exercise/conversion (derivative code M) for 61,452 shares (acquired). Separately, 115,062 shares were surrendered/withheld to satisfy tax withholding (code F) at $2.94 per share, totaling $338,282. The filing also records a derivative disposition of 61,452 shares at $0 (related to the conversion/net settlement).

Key Details

• Transaction date: 2026-09-16; Form 4 filed: 2026-09-18 (timely filing).
• Converted/exercised: 61,452 shares (derivative conversion code M).
• Tax withholding: 115,062 shares withheld/paid at $2.94/share = $338,282 (code F).
• A separate derivative-disposition line shows 61,452 shares at $0 (reflects settlement mechanics reported by the company).
• Footnotes: F1–Each PSU = contingent right to one share. F2–Withheld shares were used to satisfy tax withholding. F3–PSU performance condition was achieved; vesting schedule noted (5/12 vested Dec 17, 2025; remainder vests quarterly in 1/12 installments over next 7 quarters).
• Post-transaction total shares owned by the insider are not provided in the excerpt.

Context

• This appears to be a vesting/conversion of performance stock units (PSUs) with company withholding shares to cover tax obligations — a common, non–open-market action. The withholding is a form of cashless settlement and should not be read the same as an open-market sale. The filing was submitted within the required window (not marked late).