Rent the Runway, Inc. announced an inducement award granted to Dhiren Fonseca, Executive Chair of the company's Board of Directors, effective February 27, 2026.

Rent the Runway, Inc. ("Rent the Runway") (Nasdaq: RENT) announced today the grant of an inducement award to Dhiren Fonseca, the Executive Chair of Rent the Runway's Board of Directors, effective February 27, 2026. 

The inducement award is comprised of 802,395 restricted stock units in respect of Rent the Runway's Class A common stock ("RSUs"). The RSUs will vest as to 25% of the shares underlying the RSUs on October 28, 2026, with the remaining 75% of the RSUs vesting in equal quarterly installments through October 28, 2029, subject to continued service through the applicable vesting date.

The inducement award was unanimously approved by Rent the Runway's Board of Directors, including all independent directors, and was made as an inducement material to Mr. Fonseca entering into employment with Rent the Runway in accordance with Nasdaq Listing Rule 5635(c)(4). While the inducement award was granted outside of Rent the Runway's Second Amended and Restated 2021 Incentive Award Plan, the award is subject to terms and conditions substantially consistent with those set forth under such plan.

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COMTEX_478419185/2227/2026-05-02T21:46:51