Catherine Spear - Jun 1, 2021 Form 4 Insider Report for FIGS, Inc. (FIGS)

Role
Co-Chief Executive Officer, Director, 10%+ Owner
Signature
/s/ Danielle Warner, Attorney-in-Fact for Catherine Spear
Stock symbol
FIGS
Transactions as of
Jun 1, 2021
Transactions value $
-$2,662,346
Form type
4
Date filed
6/2/2021, 09:34 PM
Previous filing
May 27, 2021
Next filing
Sep 20, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FIGS Class A Common Stock Award $0 +114K +4.97% $0.00 2.4M Jun 1, 2021 Direct F1
transaction FIGS Class A Common Stock Tax liability -$2.66M -83.8K -3.49% $31.76 2.32M Jun 1, 2021 Direct F2
transaction FIGS Class A Common Stock Other $0 -512K -22.09% $0.00 1.8M Jun 1, 2021 Direct F3
transaction FIGS Class A Common Stock Other $0 -2.3M -100% $0.00* 0 Jun 1, 2021 Held by the Catherine Spear Revocable Trust F4
transaction FIGS Class A Common Stock Other $0 -1.3M -100% $0.00* 0 Jun 1, 2021 Held by the Wingaersheek Irrevocable Trust I u/a/d 10/15/2020 F4
transaction FIGS Class A Common Stock Other $0 -1.3M -100% $0.00* 0 Jun 1, 2021 Held by the Wingaersheek Irrevocable Trust II u/a/d 10/15/2020 F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction FIGS Class B Common Stock Other +512K 512K Jun 1, 2021 Class A Common Stock 512K Direct F3, F5
transaction FIGS Class B Common Stock Other +2.3M 2.3M Jun 1, 2021 Class A Common Stock 2.3M Held by the Catherine Spear Revocable Trust F4, F5
transaction FIGS Class B Common Stock Other +1.3M 1.3M Jun 1, 2021 Class A Common Stock 1.3M Held by the Wingaersheek Irrevocable Trust I u/a/d 10/15/2020 F4, F5
transaction FIGS Class B Common Stock Other +1.3M 1.3M Jun 1, 2021 Class A Common Stock 1.3M Held by the Wingaersheek Irrevocable Trust I u/a/d 10/15/2020 F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These restricted stock units vest as to 1/16th of the shares of Class A Common Stock on each quarterly anniversary following May 26, 2021, subject to the grantee's continued service through the applicable vesting date.
F2 All but 511,507 of these securities are RSUs, each representing a contingent right to receive one share of the Issuer's Class A Common Stock. Upon vesting and settlement of the RSUs, the shares of the Issuer's Class A Common Stock held by the Reporting Person may be exchanged at a 1:1 ratio for shares of the Issuer's Class B Common Stock at the election of the Reporting Person pursuant to an equity award exchange right agreement between the Issuer and the Reporting Person, as previously approved by the Issuer's board of directors.
F3 Upon vesting and settlement of RSUs for shares of the Issuer's Class A Common Stock, such shares were exchanged at a 1:1 ratio for shares of the Issuer's Class B Common Stock at the election of the Reporting Person pursuant to an equity award exchange right agreement between the Issuer and the Reporting Person, as previously approved by the Issuer's board of directors
F4 Immediately prior to the completion of the Issuer's initial public offering of Class A Common stock, the shares of the Issuer's Class A Common Stock held by the Reporting Person were exchanged at a 1:1 ratio for shares of the Issuer's Class B Common Stock pursuant to an exchange agreement between the Issuer and Reporting Person, as previously approved by the Issuer's board of directors.
F5 Each share of Class B Common Stock is convertible at any time at the option of the Reporting Person into one share of Class A Common Stock. In addition, each share of Class B common stock will automatically convert into one share of Class A Common Stock upon transfer or certain other events as described in the Issuer's Amended and Restated Certificate of Incorporation. All shares of Class B Common Stock, if not previously converted, will automatically convert into Class A Common Stock on June 1, 2031.