Rent the Runway to Vote on 11 Charter Amendments, CEO Resigns
Rent the Runway, Inc. announced its 2026 Annual Meeting of Stockholders to be held virtually on July 14, 2026, where shareholders will vote on 11 significant Charter Amendment Proposals and an increase in the 2021 Incentive Award Plan shares. These amendments aim to enhance corporate governance, including eliminating Class B and preferred stock, removing supermajority voting, and enabling stockholders holding at least 40% of voting power to call special meetings. The company also reported that Jennifer Hyman resigned as CEO and President, with Teri Bariquit appointed as interim CEO. For fiscal year 2025, Rent the Runway achieved 7.7% revenue growth to $329.8 million and a net income of $22.6 million, a significant improvement from the prior year's loss, alongside a 20.1% increase in active subscribers.
Key Highlights
- Jennifer Hyman resigned as CEO and President, effective May 15, 2026; Teri Bariquit appointed interim CEO.
- Stockholders to vote on 11 Charter Amendment Proposals at the July 14, 2026 Annual Meeting.
- Proposals include eliminating Class B and preferred stock, supermajority voting, and allowing 40% stockholders to call special meetings.
- Proposal to increase Class A common stock for 2021 Incentive Award Plan by 3,899,439 to 10,171,225 shares.
- FY2025 revenue grew 7.7% to $329.8 million; net income was $22.6 million, up from $(69.9) million loss in FY2024.
- Ending Active Subscribers increased 20.1% to 143,796 in FY2025.
- Recapitalization transactions completed October 28, 2025, reducing indebtedness and improving financial flexibility.
Price Impact
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