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Siddharth Thacker, Chief Financial Officer of Rent the Runway , Inc. (NASDAQ:RENT), recently sold 1,948 shares of the company’s Class A common stock. The shares were sold at an average price of $4.36 each, totaling approximately $8,493. According to InvestingPro data, the stock has declined over 56% in the past six months, though it currently trades at $4.83.
This transaction, dated March 17, 2025, was executed to cover taxes upon the vesting of restricted stock units, as part of a standing Rule 10b5-1 instruction set on June 9, 2023. The shares were sold in multiple transactions, with prices ranging from $3.98 to $4.67. Following this sale, Thacker holds 44,203 shares directly. While the company maintains a healthy current ratio of 1.65, InvestingPro analysis reveals it operates with significant debt levels of $373.7 million.
The sale reflects Thacker’s pro rata portion of the total shares sold to cover tax liabilities for certain employees of Rent the Runway. For comprehensive insights into RENT’s financial health and 14 additional key ProTips, visit InvestingPro.
In other recent news, Rent the Runway, Inc. announced several notable changes within its executive team and board of directors. Emil Michael has resigned from his position as a board member and all related committees, effective immediately. The company emphasized that his resignation was not due to any disagreements regarding operations or policies. Additionally, Rent the Runway’s Compensation Committee has approved a new cash retention bonus program for the fiscal year 2025. This program aims to incentivize executive officers, including Co-Founder, CEO, President, and Chair Jennifer Hyman, and CFO Siddharth Thacker. The bonus structure is based on growth in active subscribers and continued service, with potential earnings ranging from 75% to 100% of the target level, depending on performance each quarter. Hyman’s target retention bonus is set at $1.5 million, while Thacker’s is $420,000. This initiative is part of the company’s strategy to retain key leadership amid ongoing growth and development.
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