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BROOKLYN, NY—Cara Schembri, the Chief Legal and Administrative Officer of Rent the Runway , Inc. (NASDAQ:RENT), recently sold shares of the company’s Class A common stock. The transaction comes as the company faces significant challenges, with the stock down over 56% in the past six months and operating under a substantial debt burden of $373.7 million. According to a filing with the Securities and Exchange Commission, Schembri sold 1,276 shares on March 17, 2025, generating a total of $5,563. The shares were sold at an average price of $4.36 per share, with transaction prices ranging from $3.98 to $4.67. InvestingPro analysis shows the stock trading near its Fair Value, with comprehensive insider trading patterns and 14 additional key insights available to subscribers.
The transaction was executed to cover taxes upon the vesting of restricted stock units, as part of a standing Rule 10b5-1 instruction. Following this sale, Schembri holds 26,233 shares directly. This adjustment includes a correction for a previous clerical error. Despite operational challenges, the company maintains healthy liquidity with a current ratio of 1.65, indicating sufficient assets to cover short-term obligations.
In other recent news, Rent the Runway, Inc. has announced notable changes within its leadership and compensation structure. Emil Michael, a member of the board, has resigned from his position, with the company stating that the resignation was not due to any disagreements over operations or policies. Alongside this, Rent the Runway’s Compensation Committee has implemented a new cash retention bonus program for fiscal year 2025, targeting executive officers and other eligible participants. This program includes Co-Founder, CEO, President, and Chair Jennifer Hyman, and CFO Siddharth Thacker, aiming to incentivize performance and loyalty.
The retention bonus is structured with 50% based on company performance metrics like growth in active subscribers, and 50% on continued service, with bonuses distributed quarterly. Participants can earn between 75% to 100% of the target level, depending on performance each fiscal quarter, provided they remain employed in good standing. In cases of termination without cause or resignation for good reason after a significant transaction, participants might still receive part of the bonus. Hyman’s target retention bonus is set at $1.5 million, while Thacker’s is $420,000. This move underscores Rent the Runway’s focus on retaining key leaders amid ongoing growth and operational development.
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