Rent the Runway Grants 802,395 RSUs to Executive Chair Vesting Through 2029
Rent the Runway granted Dhiren Fonseca 802,395 RSUs vesting 25% on October 28, 2026 and the remainder in equal quarterly installments through October 28, 2029 as an inducement for joining under Nasdaq Rule 5635(c)(4). The board unanimously approved the award outside its 2021 Incentive Award Plan with consistent terms.
1. Inducement Award to Executive Chair
On February 27, 2026, Rent the Runway awarded its Executive Chair, Dhiren Fonseca, 802,395 restricted stock units under Nasdaq Listing Rule 5635(c)(4) as an inducement for entering employment.
2. Vesting Schedule
Twenty-five percent of the RSUs vest on October 28, 2026, with the remaining 75% vesting in equal quarterly installments through October 28, 2029, subject to continued service.
3. Board Approval and Plan Alignment
The grant was unanimously approved by Rent the Runway’s board, including all independent directors, and while issued outside its Second Amended and Restated 2021 Incentive Award Plan, it follows substantially similar terms and conditions.