Grant4

Reformation Inc.

Total Value

$10.4M

Filing Date

Jul 31, 2026

3 transactions

Trade Summary

On Jul 29, 2026 through Jul 31, 2026, Borenstein Hali, CEO and President, Director, reported $10.4M of Reformation Inc. (REF) across 3 transactions. The filing covers Common Stock and reflects balanced net activity of $0. Reported prices ranged from $6.61 to $15.00. Insider transactions are sourced from SEC Form 4 disclosures and should be reviewed alongside company fundamentals and the insider's broader trading history.

Insider Information

Name: Borenstein Hali
Role: CEO and President, Director
Location: VERNON, CA

Filing Details

Filing Date: Jul 31, 2026
Transaction Date: Jul 29, 2026
Accession Number: 0001104659-26-089350
Form Type: 4

Non-Derivative Transactions

Date	Security	Shares	Price	Type	Value
Jul 29, 2026	Common Stock	300,000	—	Grant/Award	—
Jul 29, 2026	Common Stock	666,666	—	Grant/Award	—
Jul 29, 2026	Common Stock	166,666	—	Grant/Award	—
Jul 31, 2026	Common Stock	170,876	$13.95	Disposition	$2.4M

Derivative Transactions

Date	Security	Shares	Exercise Price	Type	Value
Jul 29, 2026	REF derivative	294,155	$15.00	Grant/Award	$4.4M
Jul 29, 2026	REF derivative	538,410	$6.61	Disposition	$3.6M

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Footnotes

(F1)Represents 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.
(F2)Represents 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.
(F3)Represents 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.
(F4)Represents securities purchased by the Issuer in a synthetic secondary transaction in connection with the Issuer's initial public offering.
(F5)Consists of 300,000 shares of common stock underlying PSUs and 833,332 shares of common stock underlying RSUs.
(F6)These 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.
(F7)One-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.
(F8)These options are fully vested.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Borenstein Hali

(Last)

(First)

(Middle)

5801 S. 2ND ST.

(Street)

VERNON

90058

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Reformation Inc. [ REF ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	CEO and President

3. Date of Earliest Transaction (Month/Day/Year)
07/29/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	07/29/2026		A		300,000⁽¹⁾	A	$0	470,876	D
Common Stock	07/29/2026		A		666,666⁽²⁾	A	$0	1,137,542	D
Common Stock	07/29/2026		A		166,666⁽³⁾	A	$0	1,304,208	D
Common Stock	07/31/2026		D		170,876⁽⁴⁾	D	$13.95	1,133,332⁽⁵⁾	D
Common Stock								61,075	I	By Borenstein Irrevocable Trust⁽⁶⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (right to buy)	$15	07/29/2026		A		294,155		⁽⁷⁾	07/29/2036	Common Stock	294,155	$0	294,155	D
Stock Option (right to buy)	$6.61	07/29/2026		D			538,410⁽⁴⁾	⁽⁸⁾	05/01/2034	Common Stock	538,410	$13.95	1,395,768	D

Explanation of Responses:

1. Represents 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.

2. Represents 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.

3. Represents 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.

4. Represents securities purchased by the Issuer in a synthetic secondary transaction in connection with the Issuer's initial public offering.

5. Consists of 300,000 shares of common stock underlying PSUs and 833,332 shares of common stock underlying RSUs.

6. These 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.

7. One-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.

8. These options are fully vested.

	/s/ Christina Halliday, as attorney-in-fact	07/31/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Form 4 as rendered by the SEC from accession 0001104659-26-089350.

Reformation Inc.

Trade Summary

Company Information

Insider Information

Filing Details

Non-Derivative Transactions

Derivative Transactions

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Footnotes

SEC Form 4

SEC Filing

SEC Form 4