Warby Parker’s co-CEO sold 94,906 shares for $2.61 million, reducing direct holdings by 71.82%. The sale was done via direct transactions involving derivative securities, with no indirect entities involved. The rationale was planned share monetization under a Rule 10b5-1 trading plan.

The post-sale direct equity stake for Gilboa is 37,247 shares. This represents 0.03% of outstanding shares, but he still holds significant shares through derivatives. No indirect entities participated in the transaction, with all shares sold directly by Gilboa.

Warby Parker, a direct-to-consumer eyewear company, offers eyeglasses, sunglasses, and vision services. Despite recent operational success, its stock lags the S&P 500. Insider selling under structured plans is common, with future growth depending on profitability and customer expansion translating to market outperformance.

Read more at Yahoo Finance: Warby Parker Co-CEO Sells $2.6 Million in Stock as Shares Lag the S&P 500