Executive Chairman McCreight forfeits 161K unvested options; extends vested option exercise period to 3 years

Lulu's Fashion Lounge Holdings, Inc.

Voluntary forfeiture of 161,396 unvested stock options; expected cost savings of $2.7-$2.9M.
Amendment extends post-termination exercise period for 161,397 vested options from 90 days to 3 years; immediate $50k-$80k expense.
McCreight remains Executive Chairman under agreement through at least March 5, 2024, with automatic six-month extension unless notice given.

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