Form 4: Rent the Runway CEO Sells Shares to Cover Taxes
SEC Form 4 Filing
Jennifer Hyman, CEO of Rent the Runway, sold shares of Class A Common Stock to cover taxes upon the vesting of restricted stock units.
Summary
- On March 17, 2025, Jennifer Hyman, the Chair, CEO, and President of Rent the Runway, Inc. (RENT), sold 4,467 shares of Class A Common Stock.
- The sale was executed to cover taxes upon the vesting of restricted stock units, pursuant to a pre-arranged Rule 10b5-1 trading plan.
- The shares were sold at a weighted average price of $4.36, with individual transactions ranging from $3.98 to $4.67.
- Following the transaction, Hyman directly owns 124,265 shares of Rent the Runway.
- A clerical error was corrected, adjusting the Reporting Person's direct holdings by one share.
Sentiment
Score: 5
Explanation: The document describes a routine transaction (selling shares to cover taxes) and a minor correction, suggesting a neutral sentiment.
Industry Context
Sales of shares to cover tax obligations are a routine part of executive compensation, particularly when dealing with equity-based compensation.
Key Dates
| Date | Description |
|---|---|
| December 22, 2021 | Date of standing Rule 10b5-1 instruction. |
| March 17, 2025 | Date of transaction (stock sale). |
| March 19, 2025 | Date of Form 4 filing. |
Keywords
Form 4, Rent the Runway, Jennifer Hyman, stock sale, restricted stock units, Rule 10b5-1, insider trading
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