Blumenthal Neil Harris 4
4 · Warby Parker Inc. · Filed Jun 23, 2026
Research Summary
AI-generated summary of this filing
Warby Parker (WRBY) CEO Neil Blumenthal Exercises Options for 200K Shares
What Happened
Neil Blumenthal, co‑founder and CEO of Warby Parker (WRBY), exercised options on June 18, 2026 to acquire 200,000 shares at $3.83 per share, paying a total of $766,000. The Form 4 also shows a simultaneous 200,000‑share disposition recorded at $0.00 (both entries are coded “M” for option exercise/conversion). The paid exercise (acquisition) is a purchase-type transaction (insider acquiring stock), which investors often view as more informative than routine sales.
Key Details
- Transaction date: 2026-06-18 (filed on 2026-06-23; filing was submitted 5 days after the reported transaction and thus appears later than the usual 2-business‑day Form 4 deadline).
- Acquired: 200,000 shares at $3.83 each — total cash paid ≈ $766,000.
- Disposed: 200,000 shares at $0.00 (reported as a conversion/disposition in the filing).
- Shares owned after transaction: not specified in the filing.
- Footnotes:
- F1: The stock option was granted Feb 22, 2017, is fully vested and expires Feb 21, 2027.
- F2/F3: The filing notes Class B common stock is convertible 1:1 into Class A common stock under specified conditions — the $0.00 disposition likely reflects a conversion (not a market sale).
- Transaction code M indicates exercise or conversion of a derivative (option).
Context
This appears to be an exercise of vested options (cash paid to convert options into shares). The $0.00 disposition line likely documents a conversion of Class B to Class A shares per the footnotes, rather than a sale for cash. As always, exercises show the insider acquiring shares (a purchase), which can be interpreted as a vote of confidence but do not by themselves explain motivation.
Insider Transaction Report
- Exercise/Conversion
Stock Option (Right to Buy)
[F1]2026-06-18−200,000→ 510,759 totalExercise: $3.83→ Class B Common Stock (200,000 underlying) - Exercise/Conversion
Class B Common Stock
[F2][F3]2026-06-18$3.83/sh+200,000$766,000→ 3,177,577 total→ Class A Common Stock (200,000 underlying)
- 200,000(indirect: By Trust)
Class B Common Stock
[F2][F3]→ Class A Common Stock (200,000 underlying) - 200,000(indirect: By Trust)
Class B Common Stock
[F2][F3]→ Class A Common Stock (200,000 underlying) - 1,548,334(indirect: By Trust)
Class B Common Stock
[F2][F3]→ Class A Common Stock (1,548,334 underlying) - 385,221(indirect: By Trust)
Class B Common Stock
[F2][F3]→ Class A Common Stock (385,221 underlying) - 800,000(indirect: By Trust)
Class B Common Stock
[F2][F3]→ Class A Common Stock (800,000 underlying) - 1,000,000(indirect: By Trust)
Class B Common Stock
[F2][F3]→ Class A Common Stock (1,000,000 underlying)
Footnotes (3)
- [F1]The Stock option was granted on February 22, 2017, is fully vested, and will expire on February 21, 2027.
- [F2]The Class B Common Stock is convertible at any time at the option of the holder into the Issuer's Class A Common Stock on a one-to-one basis. The Class B Common Stock will automatically convert into shares of the Issuer's Class A Common Stock on a one-to-one basis upon the earlier of (i) transfer of Class B Common Stock to a person or entity that is not in the transferor's permitted ownership group, (ii) October 1, 2031, (iii) with respect to any Class B Common Stock held by any person or entity in Neil Blumenthal's permitted ownership group, (A) such time as Neil Blumenthal is removed or resigns from the board of directors, or otherwise ceases to serve as a director, (B) such time as Neil Blumenthal ceases to be either an employee, officer or consultant of the Company or any of its subsidiaries, or (C) the date that is 12 months after the death or disability of Neil Blumenthal,
- [F3]and (iv) with respect to any Class B common stock held by any person or entity in Dave Gilboa's permitted ownership group, (A) such time as Dave Gilboa is removed or resigns from the board of directors, or otherwise ceases to serve as a director, (B) such time as Dave Gilboa ceases to be either an employee, officer or consultant of the Company or any of its subsidiaries, or (C) the date that is 12 months after the death or disability of Dave Gilboa.