Horowitz Fran 4

What Happened

• Fran Horowitz, CEO of Abercrombie & Fitch Co. (ANF), had 13,202 restricted stock units (RSUs) convert into common shares on 2026-03-12 (reported 2026-03-16). The conversion is reported as an exercise/conversion of a derivative (code M) at $0.00.
• To satisfy tax withholding (code F), 5,823 of those shares were surrendered at $84.08 per share for a tax payment of $489,598. Net shares delivered to Horowitz were 7,379 (13,202 converted − 5,823 withheld).
• This was not an open-market sale of shares; it is a routine tax-withholding event tied to RSU vesting.

Key Details

• Transaction date: 2026-03-12; Form 4 filed: 2026-03-16 (filed on time).
• Conversion reported: 13,202 RSUs converted to shares (exercise/conversion, code M) at $0.00.
• Tax withholding: 5,823 shares withheld (code F) at $84.08/share = $489,598.
• Net shares received: 7,379 shares added to Horowitz’s holdings (post-transaction total not provided in the excerpt).
• Footnotes: F1 — each RSU = right to one share; F2 — RSUs vest one-third per year beginning on the first anniversary of grant.
• This was a tax-withholding/cashless-type settlement, not a market sale (no indication of a 10b5-1 plan or gift).

Context

• For retail investors: conversions of RSUs and share-withholding for taxes are common and typically reflect scheduled vesting rather than a deliberate buy or sell decision by the insider. The reported cash value of shares withheld (~$489.6k) reflects the tax obligation satisfied by surrendering shares.