From Home Furnishing Business
RH Chairman Intends to Sell Common Stock and Use Proceeds to Fund Option
RH announced that Chairman and CEO Gary Friedman intends to sell approximately 0.7 million shares of common stock related to 1.0 million options that are set to expire in connection with the ten-year anniversary of the grant date of July 2013.
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 5.0 million shares, representing approximately 19% of RH’s common stock outstanding.