Emil Michael resigns from Rent the Runway board; retention bonuses approved for CEO and CFO

Rent the Runway, Inc.

Emil Michael resigned from the Board effective March 1, 2025, citing no disagreement with the company.
Compensation Committee approved cash retention bonus program for FY2025 based 50% on active subscriber growth and 50% on continued service.
CEO Jennifer Hyman target retention bonus of $1,500,000; CFO Siddharth Thacker target $420,000.
Retention pays quarterly; termination without cause or for good reason after a transaction yields 25% of target.

item 5.02 item 9.01

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Departed

Emil Michael

Director

RENT · Rent the Runway, Inc.

Effective: 2025-03-01
Filed: March 5, 2025, 6:59 PM ET

On February 28, 2025, Emil Michael, a member of the Board of Directors (the “Board”) of Rent the Runway, Inc. (the “Company”), tendered his resignation from the Board and all committees on which he served, in each case, effective as of March 1, 2025.

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Executive change SEC 8-K Item 5.02 confidence 0.95

Emil Michael resigned as Director at Rent the Runway, Inc..

Action: resigned
Role: Director

Exact text from the filing

On February 28, 2025, Emil Michael, a member of the Board of Directors (the “Board”) of Rent the Runway, Inc. (the “Company”), tendered his resignation from the Board and all committees on which he served, in each case, effective as of March 1, 2025.

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Rent the Runway, Inc. filing history →

Source: SEC EDGAR

accession 0001468327-25-000021

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