Form 4: Lovesac President & COO Mary Fox Reports Equity Award Vesting and Partial Forfeiture

Lovesac Co's President and COO, Mary Fox, reported the vesting of time-based and a portion of performance-based restricted stock units, alongside associated tax withholdings and the forfeiture of unearned performance-based units.

Summary

• Mary Fox, President and COO of Lovesac Co (LOVE), reported transactions related to her equity compensation on June 11, 2025.
• She acquired 9,615 shares of Common Stock at a price of $0, reflecting the vesting of the first tranche of time-based Restricted Stock Units (RSUs) granted on June 11, 2024.
• Concurrently, 4,552 shares were withheld at a price of $20.50 to satisfy tax liabilities related to the vesting of these time-based RSUs, resulting in a beneficial ownership of 34,075 shares.
• Additionally, she acquired 4,884 shares of Common Stock at a price of $0, representing the vesting of a portion of the first tranche of performance-based RSUs granted on June 11, 2024.
• Another 2,313 shares were withheld at a price of $20.50 for tax liabilities associated with the vesting of these performance-based RSUs, bringing her beneficial ownership to 36,646 shares.
• An unearned portion of the first tranche of performance-based RSUs, totaling 4,731 units, was forfeited.
• Following these transactions, Mary Fox beneficially owns 36,646 shares of Common Stock and 19,231 performance-based Restricted Stock Units.

Sentiment

Score: 6

Explanation: While the vesting of time-based and partial performance-based RSUs is positive, the forfeiture of a significant portion of performance-based units indicates that not all performance targets were achieved, leading to a slightly neutral-to-negative sentiment.

Positives

• The vesting of 9,615 time-based Restricted Stock Units (RSUs) indicates continued employment and the fulfillment of time-based vesting conditions.
• The vesting of 4,884 performance-based RSUs suggests that a portion of the performance targets set for the first tranche of these awards was met.

Negatives

• The forfeiture of 4,731 performance-based Restricted Stock Units indicates that the full performance targets for that specific tranche were not achieved.

Future Outlook

N/A

Industry Context

This Form 4 filing is a routine disclosure of an executive's equity compensation transactions and does not provide broader industry context or trends.

Stakeholder Impact

• Shareholders: Provides transparency into executive compensation and performance against equity targets, though the direct impact on share price from routine vesting and tax withholding is typically minimal.
• Employees: Reflects the company's executive compensation structure and performance incentives.

Key Dates

Keywords

Lovesac Co, LOVE, SEC Form 4, Insider Transaction, Restricted Stock Units, RSU Vesting, Equity Compensation, Executive Compensation, Mary Fox, Stock Ownership