Larry Steinberg - Jul 11, 2023 Form 4 Insider Report for Rent the Runway, Inc. (RENT)

Role: Chief Technology Officer
Signature: /s/ Cara Schembri as Attorney-in-fact for Larry Steinberg
Stock symbol: RENT
Transactions as of: Jul 11, 2023
Transactions value $: $0
Form type: 4
Date filed: 7/13/2023, 07:31 PM
Previous filing: Jun 21, 2023
Next filing: Aug 4, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	RENT	Class A Common Stock	Award		+95K	+11.7%		907K	Jul 11, 2023	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	RENT	Stock Option (Right to Buy)	Disposed to Issuer		-237K	-100%		0	Jul 11, 2023	Class A Common Stock	237K	$6.76	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On July 11, 2023, the Issuer canceled, pursuant to the Issuers Option Exchange Program, all options that had been tendered by the Reporting Person. In exchange for the options, the Reporting Person received 94,959 restricted stock units. Each restricted stock unit represents a contingent right to receive one share of the Issuers Class A Common Stock. The award of restricted stock units shall vest in eight equal quarterly installments over two years beginning on November 1, 2023, provided that the Reporting Person remains continuously employed on each vesting date.
F2	Prior to cancellation, the option vested and became exercisable as to 25% of the underlying shares on March 1, 2022 and in 36 substantially equal monthly installments thereafter.

Content

On July 11, 2023, the Issuer canceled, pursuant to the Issuers Option Exchange Program, all options that had been tendered by the Reporting Person. In exchange for the options, the Reporting Person received 94,959 restricted stock units. Each restricted stock unit represents a contingent right to receive one share of the Issuers Class A Common Stock. The award of restricted stock units shall vest in eight equal quarterly installments over two years beginning on November 1, 2023, provided that the Reporting Person remains continuously employed on each vesting date.

Prior to cancellation, the option vested and became exercisable as to 25% of the underlying shares on March 1, 2022 and in 36 substantially equal monthly installments thereafter.