Stitch Fix, Inc. (NASDAQ:SFIX), the leading online personal styling service, announced in March 2022 that its compensation committee of the company’s board of directors granted Employee Stock Options and RSUs to Sachin Dhawan, Chief Technology Officer.
Sachin Dhawan joined Stitch Fix in January 2022. The newly hired Chief Technology Officer has an extensive experience including 12 years at Microsoft, 4 years at PayPal and 3 years at Visa.
A few months ago, Stitch Fix granted 255 000 employee stock options and 129 000 RSUs to Dan Jedda, CFO.
Sachin Dhawan will have the option to purchase 612,170 shares (Class A common stock) and 306,085 Restricted Stock Units (RSU). The strike price for the employee stock options has been set at $11.31
Half of the employee stock options and RSU will be vested by December 2022, providing Sachin Dhawan will still be employed by Stitch Fix.
Sachin Dhawan will vest nearly 1M stock options and RSU combined over the next two years (December 2024).
Employee Stock Option structure:
- 25% (153,043) will vest on June 2022
- 4.17% (25,527) from July 2022 until December 2022
- 2.78% (17,018) every month in 2023
- 1.385% (8,479) every month in 2024
Restricted Stock Units structure:
- 25% (76,521) will vest at the end of Q2 2022
- 12.5% (38,261) for Q3 2022 and Q4 2022
- 8.33% (25,497) for every quarter in 2023
- 4.17% (12,764) for every quarter in 2024
From Q2 2022 and until Q4 2024 Sachin Dhawa will vest 612,170 shares (Class A common stock) and 306,085 Restricted Stock Units (RSU).