Stitch Fix Announces New Employee Inducement Grant

SAN FRANCISCO, April 01, 2021 (GLOBE NEWSWIRE) -- Stitch Fix Inc. (NASDAQ: SFIX), the leading online personal styling service, today announced that effective March 29, 2021, the compensation committee of the company’s board of directors granted Sharon Chiarella, Chief Product Officer, the option to purchase 71,376 shares of the company’s Class A common stock, at a per share exercise price of $47.14, and restricted stock units to acquire 36,006 shares of the company’s Class A common stock. The stock options vest over three years, with one sixth of the shares vesting on the six-month anniversary of Ms. Chiarella’s start date and the remainder vesting in equal monthly installments thereafter, subject to Ms. Chiarella’s continued service on each vesting date. The restricted stock units vest over three years, with one sixth of the shares vesting on December 15, 2021, and the remainder vesting in equal quarterly installments thereafter, subject to Ms. Chiarella’s continued service on each vesting date. The stock options and restricted stock units were granted pursuant to, and are subject to the terms of, the Stitch Fix, Inc. 2019 Inducement Plan and forms of stock option and restricted stock unit agreements thereunder, which were approved by the company's board of directors in October 2019 under Rule 5635(c)(4) of the Nasdaq Global Market for equity grants to induce new employees to enter into employment with the company.

About Stitch Fix, Inc.
Stitch Fix is an online personal styling service that is reinventing the shopping experience by delivering one-to-one personalization to our clients through the combination of data science and human judgment. Stitch Fix was founded in 2011 by CEO Katrina Lake. Since then, we’ve helped millions of women, men, and kids discover and buy what they love through personalized selections of apparel, shoes, and accessories, curated by Stitch Fix stylists and algorithms. For more information about Stitch Fix, please visit https://www.stitchfix.com.

IR Contact:
 
David Pearce
ir@stitchfix.com
 
PR Contact:
 
Suzy Sammons
media@stitchfix.com