Reformation Director Receives 10,274 RSUs in June Grant
Director Miller Steven Clive was awarded 10,274 RSUs set to vest in April 2027, per an SEC Form 3 filing.
If you've ever wondered how corporate directors get compensated beyond a simple paycheck, restricted stock units — or RSUs — are a big part of the answer. Reformation Inc. (REF) just disclosed that director Miller Steven Clive received a grant of 10,274 RSUs on June 1, 2026, according to a Form 3 filed with the Securities and Exchange Commission.
So what exactly is an RSU? Think of it as a promise: the company agrees to hand over one real share of stock for each unit — but only after certain conditions are met. In this case, the 10,274 units are scheduled to vest on April 27, 2027, meaning Clive would need to remain in his role (or meet whatever vesting terms apply) before converting those units into actual shares worth real money.
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The vehicle for this disclosure — a Form 3 — is the SEC's standard "first look" filing. Anytime a corporate insider like a director acquires a meaningful ownership stake for the first time, they're required to report it publicly within a set window. It's a transparency mechanism designed to keep everyday investors in the loop about who holds what inside the companies they own shares in.
For retail investors watching REF, a director RSU grant of this size is fairly routine and typically signals standard compensation rather than anything dramatic. That said, insider ownership moves are always worth tracking — when directors have real skin in the game, their financial interests tend to align more closely with shareholders. Whether this grant moves the needle for Reformation depends on broader context around the stock's performance and the company's overall compensation structure.
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