Brian Donato - 11 Jul 2023 Form 4 Insider Report for Rent the Runway, Inc. (RENT)

Role
Chief Revenue Officer
Signature
/s/ Cara Schembri as Attorney-in-fact for Brian Donato
Issuer symbol
RENT
Transactions as of
11 Jul 2023
Transactions value $
$0
Form type
4
Filing time
13 Jul 2023, 19:21:23 UTC
Previous filing
21 Jun 2023
Next filing
28 Jul 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction RENT Class A Common Stock Award +27,119 +3.6% 778,600 11 Jul 2023 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction RENT Stock Option (Right to Buy) Disposed to Issuer -67,800 -100% 0 11 Jul 2023 Class A Common Stock 67,800 $6.76 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 On July 11, 2023, the Issuer canceled, pursuant to the Issuers Option Exchange Program, all options that had been tendered by the Reporting Person. In exchange for the options, the Reporting Person received 27,119 restricted stock units. Each restricted stock unit represents a contingent right to receive one share of the Issuers Class A Common Stock. The award of restricted stock units shall vest in eight equal quarterly installments over two years beginning on November 1, 2023, provided that the Reporting Person remains continuously employed on each vesting date.
F2 Prior to cancellation, the option vested and became exercisable as to 25% of the underlying shares on March 1, 2022 and in 36 substantially equal monthly installments thereafter.