Hali Borenstein - 29 Jul 2026 Form 4 Insider Report for Reformation Inc. (REF)

Reporting relationship: CEO and President, Director
Issuer ticker: REF
Reported as of: 29 Jul 2026
Net transaction value: $0
SEC form: 4
Accepted by SEC: 31 Jul 2026, 21:53:34 UTC
Prior SEC filing: 30 Mar 2026
Source filing: View source filing
Reporting owner signature: /s/ Christina Halliday, as attorney-in-fact

Key filing fact

Hali Borenstein filed Form 4 for Reformation Inc. (REF) on 31 Jul 2026.

Key facts

This page summarizes Hali Borenstein's Form 4 filing for Reformation Inc. (REF).
6 reported transactions and 2 derivative rows are listed below.
Accepted by SEC: 31 Jul 2026, 21:53.

Change

Previous filing in this sequence was filed on 30 Mar 2026.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001795710 Primary reporting owner

Borenstein Hali

Relationship: CEO and President, Director
Address: 5801 S. 2ND ST., VERNON
Signature: /s/ Christina Halliday, as attorney-in-fact
Signature date: 31 Jul 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

REF transaction

Common Stock

Award

Transaction value
Shares: +300,000
Change %: +176%
Price: $0.000000^*
Shares after: 470,876
Date: 29 Jul 2026
Ownership: Direct
Footnotes: F1

REF transaction

Common Stock

Award

Transaction value
Shares: +666,666
Change %: +142%
Price: $0.000000^*
Shares after: 1,137,542
Date: 29 Jul 2026
Ownership: Direct
Footnotes: F2

REF transaction

Common Stock

Award

Transaction value
Shares: +166,666
Change %: +15%
Price: $0.000000^*
Shares after: 1,304,208
Date: 29 Jul 2026
Ownership: Direct
Footnotes: F3

REF transaction

Common Stock

Disposed to Issuer

Transaction value
Shares: -170,876
Change %: -13%
Price: $13.95^*
Shares after: 1,133,332
Date: 31 Jul 2026
Ownership: Direct
Footnotes: F4, F5

REF holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 61,075
Date: 29 Jul 2026
Ownership: By Borenstein Irrevocable Trust
Footnotes: F6

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

REF transaction Derivative

Stock Option (right to buy)

Award

Transaction value
Shares: +294,155
Change %
Price: $0.000000^*
Shares after: 294,155
Date: 29 Jul 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 294,155
Exercise price: $15.00
Footnotes: F7

REF transaction Derivative

Stock Option (right to buy)

Disposed to Issuer

Transaction value
Shares: -538,410
Change %: -28%
Price: $13.95^*
Shares after: 1,395,768
Date: 29 Jul 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 538,410
Exercise price: $6.61
Footnotes: F4, F8

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 8 footnotes

Footnote F1

Represents a grant of performance-based restricted stock units ("PSUs"), which vest subject to the achievement of certain pre-determined stock price targets and satisfaction of a service-based vesting condition. The PSUs are awarded at a target level and have the opportunity to vest at 200% of such target level. Each PSU represents a contingent right to receive one share of common stock.

Footnote F2

Represents a grant of restricted stock units ("RSUs"), which vest in two equal annual installments in each of the first and second anniversaries of the grant date, subject to the reporting person's continued employment with the Issuer through the applicable vesting date. Each RSU represents a contingent right to receive one share of common stock.

Footnote F3

Represents a grant of RSUs, which vest in three equal annual installments in each of the first, second and third anniversaries of the grant date, subject to the reporting person's continued employment with the Issuer through the applicable vesting date.

Footnote F4

Represents securities purchased by the Issuer in a synthetic secondary transaction in connection with the Issuer's initial public offering.

Footnote F5

Consists of 300,000 shares of common stock underlying PSUs and 833,332 shares of common stock underlying RSUs.

Footnote F6

These shares are held by Borenstein Irrevocable Trust, of which the reporting person has the power to replace the trustee. The reporting person disclaims beneficial ownership of the shares held by Borenstein Irrevocable Trust, except to the extent of her pecuniary interest therein.

Footnote F7

One-third of the options vest on the first anniversary of the grant date, and the remainder vest in equal quarterly installments on each of the eight quarterly anniversaries of the grant date following the first anniversary of the grant date, such that the stock options will become fully vested on the third anniversary of the grant date, in each case subject to the reporting person's continued employment with the Issuer through the applicable vesting date.

Footnote F8

These options are fully vested.