Gilboa David Abraham 4

What Happened

• Dave Gilboa, CEO of Warby Parker, exercised/converted derivative securities and sold 54,347 shares on July 6, 2026. He acquired shares via an option exercise/conversion at an exercise price of $3.83 per share (cost ≈ $208,149) and then sold those 54,347 shares in the open market at an average execution price of $29.84, generating gross proceeds of about $1,621,714. The filings show related zero-price conversion/settlement entries for derivative securities (conversion of Class B common stock/derivative steps).

Key Details

• Transaction date: July 6, 2026.
• Sale: 54,347 shares sold at an average price of $29.84 (prices ranged $29.75–$30.00); total proceeds ≈ $1,621,714. (F2)
• Exercise/Acquisition: 54,347 shares acquired via exercise/conversion at $3.83/share; cash paid ≈ $208,149. (F3)
• Derivative/conversion entries at $0 reflect conversion/settlement steps of derivative/Class B stock recorded in the filing. (F4, F5)
• The sale was executed under a pre-established Rule 10b5-1 trading plan adopted March 17, 2026. (F1)
• Shares owned after the reported transactions: not specified in the excerpt provided.
• Filing timeliness: no late-filing notation provided in the submitted excerpt.

Context

• This was an exercise-and-sell sequence: Gilboa exercised options/converted derivatives (incurring the exercise cost) and then sold the resulting shares in the open market. Such transactions are commonly used to monetize vested option holdings or satisfy tax/costs and, when done under a 10b5-1 plan, are prearranged trades rather than ad-hoc market-timing decisions.
• Footnotes clarify the option grant (granted Feb 22, 2017; fully vested; expires Feb 21, 2027) and the conversion mechanics for Class B common stock, which can convert into Class A shares under specified conditions.