SEC Form 4 · accession 0001104659-26-089350
Reformation Inc. · REF
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Hali Borenstein
Officer — CEO and President · Director
Period of report
Jul 29, 2026
Accepted (ET)
Jul 31, 2026 · 9:53 pm EDT
Rule 10b5-1 plan
box not checked
Issuer CIK
0001787117
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jul 29, 2026 | A | 300,000 | $0.00 | A | 470,876 | D | |
| Common StockF2 | Jul 29, 2026 | A | 666,666 | $0.00 | A | 1,137,542 | D | |
| Common StockF3 | Jul 29, 2026 | A | 166,666 | $0.00 | A | 1,304,208 | D | |
| Common StockF4,F5 | Jul 31, 2026 | D | 170,876 | $13.95 | D | 1,133,332 | D | |
| Common StockF6 | holding | — | — | — | 61,075 | I | By Borenstein Irrevocable Trust |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (right to buy)F7 | $15.00 | Jul 29, 2026 | A | 294,155 | A | — | Jul 29, 2036 | Common Stock | 294,155 | 294,155 | D |
| Stock Option (right to buy)F4,F8 | $6.61 | Jul 29, 2026 | D | 538,410 | D | — | May 1, 2034 | Common Stock | 538,410 | 1,395,768 | D |
Explanation of responses
- F1Represents a grant of performance-based restricted stock units ("PSUs"), which vest subject to the achievement of certain pre-determined stock price targets and satisfaction of a service-based vesting condition. The PSUs are awarded at a target level and have the opportunity to vest at 200% of such target level. Each PSU represents a contingent right to receive one share of common stock.
- F2Represents a grant of restricted stock units ("RSUs"), which vest in two equal annual installments in each of the first and second anniversaries of the grant date, subject to the reporting person's continued employment with the Issuer through the applicable vesting date. Each RSU represents a contingent right to receive one share of common stock.
- F3Represents a grant of RSUs, which vest in three equal annual installments in each of the first, second and third anniversaries of the grant date, subject to the reporting person's continued employment with the Issuer through the applicable vesting date.
- F4Represents securities purchased by the Issuer in a synthetic secondary transaction in connection with the Issuer's initial public offering.
- F5Consists of 300,000 shares of common stock underlying PSUs and 833,332 shares of common stock underlying RSUs.
- F6These shares are held by Borenstein Irrevocable Trust, of which the reporting person has the power to replace the trustee. The reporting person disclaims beneficial ownership of the shares held by Borenstein Irrevocable Trust, except to the extent of her pecuniary interest therein.
- F7One-third of the options vest on the first anniversary of the grant date, and the remainder vest in equal quarterly installments on each of the eight quarterly anniversaries of the grant date following the first anniversary of the grant date, such that the stock options will become fully vested on the third anniversary of the grant date, in each case subject to the reporting person's continued employment with the Issuer through the applicable vesting date.
- F8These options are fully vested.