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Warby Parker Inc.

For the period ended Jun 8, 2026. Filed Apr 28, 2026.

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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.

Jun 8, 2026 · Filed Apr 28, 2026

WRBY$25.48-2.3%Stored close · as of Nov 6, 2026
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APPENDIX A A-1

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APPENDIX A

KEY PERFORMANCE MEASURES

“Active Customer” is defined as a unique customer that has made at least one purchase in the preceding 12-month period.

“Average Revenue per Customer” is defined as the sum of the total net revenues in the preceding 12-month period divided by the current period Active Customers.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

This proxy statement refers to “Adjusted EBITDA,” “Adjusted EBITDA Margin,” and “Free Cash Flow” which are not defined by generally accepted accounting principles (“GAAP”) and are considered non-GAAP financial measures, as defined by SEC Regulation G. For each of these non-GAAP financial measures, we have provided below a reconciliation of the differences between the non-GAAP measures to the most directly comparable financial measures calculated in accordance with GAAP. We believe these non-GAAP financial measures may be useful in evaluating our financial information and comparing period-to-period performance, and we have incorporated Adjusted EBITDA as a performance measure in the Company’s annual performance-based cash bonus program. However, these measures should not be considered in isolation and should be viewed in addition to, and not as an alternative to, our reported results prepared in accordance with GAAP. In addition, our non-GAAP financial information may not be comparable to similarly titled measures reported by other companies.

“Adjusted EBITDA” is defined as net income (loss) before interest and other income, taxes, and depreciation and amortization as further adjusted for asset impairment costs, stock-based compensation expense and related employer payroll taxes, amortization of cloud-based software implementation costs, non-cash charitable donations, charges for certain legal matters outside the ordinary course of business, and non-recurring costs such as restructuring costs and major system implementation costs.

“Adjusted EBITDA Margin” is defined as Adjusted EBITDA divided by net revenue.

“Free Cash Flow” is defined as net cash provided by operating activities minus purchases of property and equipment.

Warby Parker Inc. and Subsidiaries

Reconciliation of GAAP to Non-GAAP Measures (Unaudited)

The following table reconciles adjusted EBITDA and adjusted EBITDA margin to the most directly comparable GAAP measure, which is net income (loss):

​ · ​ · ​ · Year Ended · ​
​ · ​ · ​ · December 31, 2025 · ​ · ​ · December 31, 2024 · ​
​ · ​ · ​ · (unaudited, in thousands) · ​
Net income (loss)​​​$1,641​​​​$(20,390)​​
Adjusted to exclude the following:​​​​​​​​​​​​​
Interest and other income, net​​​​(8,379)​​​​​(10,596)​​
Provision for income taxes​​​​1,402​​​​​875​​
Depreciation and amortization expense​​​​50,280​​​​​45,865​​
Asset impairment charges​​​​557​​​​​816​​
Stock-based compensation expense(1)​​​​36,097​​​​​48,409​​
Non-cash charitable donations(2)​​​​2,821​​​​​2,196​​
Amortization of cloud-based software implementation costs​​​​3,405​​​​​3,704​​
System implementation costs(3)​​​​1,883​​​​​—​​
Inventory write-downs(4)​​​​2,456​​​​​—​​
Other costs(5)​​​​3,048​​​​​2,232​​
Adjusted EBITDA​​​$95,211​​​​$73,111​​
Adjusted EBITDA margin​​​​10.9%​​​​​9.5%​​

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(1)

Represents expenses related to the Company’s equity-based compensation programs and related employer payroll taxes, which may vary significantly from period to period depending upon various factors including the timing, number, and the valuation of awards granted, vesting of awards including the satisfaction of performance conditions. For the twelve months ended December 31, 2025, and December 31, 2024, the amount includes $1.6 million and $1.1 million of employer payroll costs, respectively, associated with releases of RSUs and option exercises.

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(2)

Represents charitable expense recorded in connection with the donation of 178,572 shares of Class A common stock in both May 2025 and May 2024 to the Warby Parker Impact Foundation.

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(3)

Represents costs related to the implementation of major new enterprise software systems.

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(4)

Represents one-time inventory write-downs primarily related to the decision in the second quarter of 2025 to sunset our Home-Try On program at the end of 2025.

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(5)

Primarily represents restructuring costs incurred in the second quarter of 2025 and the fourth quarter of 2024 and charges for certain legal matters outside the ordinary course of business.

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The following table reflects a reconciliation of free cash flow to its most directly comparable financial measure prepared in accordance with GAAP:

​ · ​ · ​ · Year Ended · ​
​ · ​ · ​ · December 31, 2025 · ​ · ​ · December 31, 2024 · ​
​ · ​ · ​ · (unaudited, in thousands) · ​
Net cash provided by operating activities​​​$110,785​​​​$98,744​​
Purchases of property and equipment​​​​(67,048)​​​​​(64,032)​​
Free cash flow​​​$43,737​​​​$34,712​​

WARBY PARKER INC.233 SPRING STREET, 6TH FLOOR EASTNEW YORK, NY 10013SCAN TOVIEW MATERIALS & VOTEVOTE BY INTERNETBefore The Meeting - Go to www.proxyvote.com or scan the QR Barcode aboveUse the Internet to transmit your voting instructions and for electronic delivery of information.Vote by 11:59 P.M. Eastern Time on June 7, 2026. Have your proxy card in hand when youaccess the web site and follow the instructions to obtain your records and to create anelectronic voting instruction form.During The Meeting - Go to www.virtualshareholdermeeting.com/WRBY2026You may attend the meeting via the Internet and vote during the meeting. Have the informationthat is printed in the box marked by the arrow available and follow the instructions.VOTE BY PHONE -1-800-690-6903 Use any touch-tone telephone to transmit your voting instructions. Vote by 11:59 P.M.Eastern Time on June 7, 2026. Have your proxy card in hand when you call and then followthe instructions.VOTE BY MAILMark, sign and date your proxy card and return it in the postage-paid envelope wehave provided or return it to Vote Processing, c/o Broadridge, 51 Mercedes Way,Edgewood, NY 11717.TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS:KEEP THIS PORTION FOR YOUR RECORDSTHIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.DETACH AND RETURN THIS PORTION ONLYWARBY PARKER INC.The Board of Directors recommends you vote FOR thefollowing Class II director nominees:WARBY PARKER INC.The Board of Directors recommends you vote FOR thefollowing Class II director nominees:To withhold authority to vote for any individualnominee(s), mark "For All Except" and write thenumber(s) of the nominee(s) on the line below.1. Election of DirectorsNominees:01) David ("Dave") Gilboa02) Youngme Moon03) Ronald WilliamsThe Board of Directors recommends you vote FOR the following proposal:2. Ratification of the appointment of Ernst & Young LLP as the Company's independent registered public accounting firm for the fiscal year endingDecember 31, 2026.The Board of Directors recommends you vote FOR the following proposal:3. Approval, on an advisory (non-binding) basis, of the compensation of the Company’s named executive officers.NOTE: Such other business as may properly come before the meeting or any adjournment, continuation, or postponement thereof.For Against AbstainFor Against AbstainPlease sign exactly as your name(s) appear(s) hereon. When signing as attorney, executor,administrator, or other fiduciary, please give full title as such. Joint owners should each signpersonally. All holders must sign. If a corporation or partnership, please sign in full corporateor partnership name by authorized officer.Signature [PLEASE SIGN WITHIN BOX] DateSignature (Joint Owners) Date

Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting:The Proxy Statement and Form 10-K are available at www.proxyvote.com.WARBY PARKER INC.Annual Meeting of StockholdersJune 8, 2026 3:30 PM EDTThis proxy is solicited by the Board of DirectorsThe undersigned stockholder(s) of Warby Parker Inc. hereby appoint(s) Neil Blumenthal, Dave Gilboa and Chris Utecht, or any of them, as proxies, each with the power to appoint his substitute, and hereby authorize(s) them to represent and to vote, as designated on the reverse side of this proxy card, all of the shares of Class A common stock and/or Class B common stock, as applicable, of Warby Parker Inc. that the stockholder(s) is/are entitled to vote at the Annual Meeting of Stockholders to be held at 3:30 PM EDT on June 8, 2026, via a live webcast at www.virtualshareholdermeeting.com/WRBY2026, and any adjournment, continuation or postponement thereof. Such proxies are authorized to vote in their discretion (x) for the election of any person to the Board of Directors if any nominee named herein becomes unable to serve or for good cause will not serve, (y) on any matter that the Board of Directors did not know would be presented at the Annual Meeting by a reasonable time before the proxy solicitation was made, and (z) on such other business as may properly be brought before the meeting or any adjournment, continuation, or postponement thereof.THIS PROXY, WHEN PROPERLY EXECUTED, WILL BE VOTED IN THE MANNER DIRECTED BY THE UNDERSIGNEDSTOCKHOLDER(S). IF NO SUCH DIRECTION IS MADE, THIS PROXY WILL BE VOTED IN ACCORDANCE WITH THE BOARD OF DIRECTORS' RECOMMENDATIONS.Continued and to be signed on reverse side

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