Form 4: Warby Parker Co-CEO David Gilboa Executes Stock Transactions Following RSU Vesting

Warby Parker's Co-CEO, David Gilboa, sold 36,163 shares of Class A Common Stock at an average price of $22.61 to cover taxes due on vested restricted stock units.

Summary

• David Gilboa, Co-Chief Executive Officer of Warby Parker, engaged in several transactions involving the company's stock on December 3, 2024.
• These transactions included the acquisition of 36,163 Class A Common Stock shares at $0, likely due to the vesting of restricted stock units (RSUs).
• Simultaneously, Mr. Gilboa sold 36,163 Class A Common Stock shares at an average price of $22.61 to cover taxes associated with the vesting of the RSUs.
• The sales occurred in multiple transactions with prices ranging from $22.61 to $22.63.
• Additionally, Mr. Gilboa converted 4,332 and 54,342 Class B Common Stock shares from vested RSUs into Class B Common Stock.
• He also converted 58,674 Class B Common Stock shares into Class A Common Stock and 36,163 Class B Common Stock shares into Class A Common Stock.
• Following these transactions, Mr. Gilboa directly owns 12,306 Class A Common Stock shares and indirectly owns 1,656,770 Class A Common Stock shares through the David A. Gilboa 2012 Family Trust.

Sentiment

Score: 7

Explanation: The document reflects routine transactions related to executive compensation. There is no indication of positive or negative sentiment, it is a standard process.

Industry Context

This is a routine filing related to executive compensation and is common for publicly traded companies. The transactions are related to the vesting of restricted stock units and the subsequent sale of shares to cover tax obligations.

Comparison to Industry Standards

• The vesting and subsequent sale of shares to cover taxes is a standard practice in executive compensation across many publicly traded companies.
• Similar transactions are regularly reported by executives at companies like Luxottica, Essilor, and other eyewear and retail businesses.
• The specific details of the vesting schedule and conversion terms are unique to Warby Parker's equity compensation plan, but the overall process is consistent with industry norms.

Stakeholder Impact

• The transactions have a minimal impact on shareholders as they are related to executive compensation and do not indicate a change in the company's fundamentals.
• The sale of shares by the Co-CEO may have a slight downward pressure on the stock price in the short term, but this is likely to be negligible.

Key Dates

Keywords

Warby Parker, David Gilboa, stock transaction, restricted stock units, RSU, Class A Common Stock, Class B Common Stock, insider trading, SEC Form 4, equity compensation