RH (RH) CEO to Exercise Expiring IPO Stock Options and Sell Part of Shares to Satisfy Resulting Tax Obligations
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RH Announces Chairman & CEO Gary Friedman Plans to Exercise Expiring IPO Stock Options and Sell a Portion of the Shares to Fund the Exercise and Satisfy Resulting Tax Obligations
March 29, 2022 4:05 PM EDTCORTE MADERA, Calif.--(BUSINESS WIRE)-- RH (NYSE: RH) announced today that Chairman & Chief Executive Officer Gary Friedman intends to sell approximately 1.7 million shares of common stock related to 2.9 million options that are set to expire in connection with the ten-year anniversary of the Companys initial public offering. Mr. Friedman plans to use the sale proceeds to fund the option exercise and satisfy the resulting tax obligations.
Following the option exercise and sale, Mr. Friedman will retain beneficial ownership of approximately 5.7 million shares, representing approximately 21% of RHs common stock... More
