Blumenthal Neil Harris 4

What Happened

• Neil Blumenthal, co‑founder and CEO of Warby Parker (WRBY), reported converting 189,320 Class B shares into Class A common stock (no cash paid) and selling 217,667 shares in an open‑market transaction on July 1, 2026. The sale generated approximately $6,445,120 at an average execution price of $29.61 per share.

Key Details

• Transaction dates: July 1, 2026 (reported July 2, 2026); filing appears timely.
• Sale: 217,667 shares disposed at an average price of $29.61; total proceeds ≈ $6,445,120. Reported trade prices ranged from $29.32 to $30.09. (Footnote: average price rounded; full per‑price breakdown available upon request.)
• Conversion: 189,320 Class B shares converted into Class A shares (reported as Code C, $0.00 per share). The filing shows both the acquisition by conversion and the corresponding derivative disposition entry.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Plan/authorization: Sale was effected under a Rule 10b5‑1 trading plan adopted March 17, 2026. (Footnote F1)
• Class B conversion terms: Class B common stock converts one‑for‑one into Class A and will auto‑convert on certain triggers (e.g., transfer outside permitted ownership group, Oct 1, 2031, or specified changes in Blumenthal’s status). (Footnote F3)

Context

• The filing reports a preplanned sale under a 10b5‑1 plan, which is a common mechanism insiders use to sell shares on a preset schedule; this indicates the trades were likely routine rather than opportunistic. The conversion entries reflect a structural change from Class B to tradable Class A shares (one‑for‑one), not a purchase. No late‑filing indication was provided.