v3.26.1
Subsequent Events
6 Months Ended
Jul. 31, 2026
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
On September 1, 2026, the Company entered into the Third Amendment to the New Credit Agreement. The Third Amendment provides an additional $10.0 million of new term loans from the Investor Group, the proceeds of which will be used for working capital and other general corporate purposes.

On September 3, 2026, the Company entered into a Stipulation and Agreement of Settlement (the “Stipulation of Settlement”) to settle the previously-disclosed putative class action lawsuit filed by a purported stockholder of the Company on November 14, 2022 in the Eastern District of New York against the Company, certain of its officers and directors, and the underwriters of its IPO, entitled Rajat Sharma v. Rent the Runway, Inc., et al., 22-cv-6935. See “Note 14 - Commitments and Contingencies” in the Notes to the Condensed Consolidated Financial Statements for a summary of the settlement. In accordance with ASC 855, Subsequent Events, the Settlement Amount and expected insurance proceeds have been recognized in the Company’s financial statements for the three months ended July 31, 2026.

On September 11, 2026 (the “Appointment Date”), the Company’s Board of Directors (the “Board”) appointed Paige Thomas as the Company’s Chief Executive Officer, principal executive officer,President and member of the Board, effective as of September 14, 2026 (the “Effective Date”). Pursuant to the Employment Agreement between Paige Thomas and the Company dated September 11, 2026, she will receive an annual base salary of $650,000, a target annual bonus equal to 100% of her annual base salary, and a grant of restricted stock units and performance stock units pursuant to the Company’s Amended 2021 Plan.

In connection with Ms. Thomas’ appointment, on the Appointment Date, Ms. Bariquit stepped down as the Company’s Interim Chief Executive Officer and President and was appointed by the Board to serve as non-executive Chair of the Board, effective as of the Effective Date. In connection with Ms. Bariquit’s appointment, Dhiren Fonseca stepped down as Executive Chairman and will continue to serve as a Class III director of the Board.