Fox Mary 4

What Happened

• Mary Fox, President of Lovesac (LOVE), had performance-based restricted stock units (RSUs) vest on March 18, 2026. A total of 29,311 RSUs converted into common shares (4,504 + 9,106 + 15,701). The conversion price is reported as $0 because these were vested RSUs, not a cash purchase.
• Immediately after vesting, 7,067 shares were surrendered to the issuer (zero-dollar dispositions) to satisfy tax withholding or related obligations, leaving a net delivery of approximately 22,244 shares to Ms. Fox. No open‑market cash sale is reported in this filing.

Key Details

• Transaction date: 2026-03-18; filing date: 2026-03-20 (timely filing for a 2-business-day window).
• Reported entries: three vest/convert events totaling 29,311 shares (4,504; 9,106; 15,701) at $0.00 per share.
• Shares surrendered to issuer (likely tax withholding): 5,192 + 510 + 1,365 = 7,067 shares (reported as Disposition to Issuer, $0).
• Net shares delivered to insider (vested minus withheld): ~22,244 shares.
• Shares owned after the transaction: not specified in the provided excerpt of the filing.
• Footnotes: F1 explains each RSU converts to one share upon vesting. F2–F4 state these vested shares came from specific performance‑based RSU tranches (Apr 15, 2023; Jun 11, 2024; Apr 15, 2025) and that any remaining unearned performance RSUs from those grants were forfeited.

Context

• These were RSU vesting/conversion events (derivative-to-common share conversions), not purchases or open‑market sales. The $0 price is normal for vested RSUs — the economic value is realized when the shares vest and/or are sold later.
• The disposals to the issuer are typically tax-withholding or share-surrender transactions and are routine administrative actions following vesting; they do not necessarily indicate a bearish view by the insider.