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Jennifer Hyman, the Chair, CEO, and President of Rent the Runway , Inc. (NASDAQ:RENT), recently sold 4,467 shares of the company’s Class A common stock. The transaction comes as the company’s stock has declined over 56% in the past six months, with InvestingPro analysis indicating the stock is currently trading near its Fair Value. The shares were sold at an average price of $4.36, totaling $19,476. This transaction, dated March 17, 2025, was executed to cover taxes related to the vesting of restricted stock units. Following the sale, Hyman retains direct ownership of 124,265 shares. The sale was conducted under a Rule 10b5-1 plan, which allows company insiders to set up a predetermined trading plan for selling stocks. While the company maintains healthy liquidity with a current ratio of 1.65, InvestingPro data reveals it operates with significant debt of $373.7M. Get access to comprehensive insider trading analysis and 14 additional ProTips with an InvestingPro subscription.
In other recent news, Rent the Runway, Inc. has announced notable changes within its executive team and board of directors. Emil Michael, a board member, has resigned from his position and all related committees, with the company clarifying that his departure was not due to any disagreements concerning operations or policies. In tandem with this change, Rent the Runway’s Compensation Committee has approved a new cash retention bonus program for the fiscal year 2025, targeting executive officers and other eligible participants. This program includes Co-Founder, CEO, President, and Chair Jennifer Hyman, along with CFO Siddharth Thacker.
The retention bonus plan is structured to reward performance and loyalty, with half of the bonus based on company performance metrics such as growth in active subscribers, and the other half on continued service. Bonuses will be distributed quarterly, contingent upon meeting specific performance thresholds, allowing participants to earn between 75% to 100% of the target level. Hyman’s target retention bonus is set at $1.5 million, while Thacker’s is $420,000. Participants may still be eligible for a portion of the bonus if they are terminated without cause or resign for good reason following a significant transaction. This initiative underscores Rent the Runway’s efforts to retain key leadership as it navigates a competitive market.
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