Catherine Eva Spear - 01 Jun 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
Issuer symbol
FIGS
Transactions as of
01 Jun 2021
Net transactions value
-$2,662,346
Form type
4
Filing time
02 Jun 2021, 21:34:19 UTC
Previous filing
27 May 2021
Next filing
20 Sep 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FIGS Class A Common Stock Award $0 +113,637 +5% $0.000000 2,399,731 01 Jun 2021 Direct F1
transaction FIGS Class A Common Stock Tax liability $2,662,346 -83,827 -3.5% $31.76 2,315,904 01 Jun 2021 Direct F2
transaction FIGS Class A Common Stock Other $0 -511,507 -22% $0.000000 1,804,397 01 Jun 2021 Direct F3
transaction FIGS Class A Common Stock Other $0 -2,300,076 -100% $0.000000* 0 01 Jun 2021 Held by the Catherine Spear Revocable Trust F4
transaction FIGS Class A Common Stock Other $0 -1,302,750 -100% $0.000000* 0 01 Jun 2021 Held by the Wingaersheek Irrevocable Trust I u/a/d 10/15/2020 F4
transaction FIGS Class A Common Stock Other $0 -1,302,750 -100% $0.000000* 0 01 Jun 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 +511,507 511,507 01 Jun 2021 Class A Common Stock 511,507 Direct F3, F5
transaction FIGS Class B Common Stock Other +2,300,076 2,300,076 01 Jun 2021 Class A Common Stock 2,300,076 Held by the Catherine Spear Revocable Trust F4, F5
transaction FIGS Class B Common Stock Other +1,302,750 1,302,750 01 Jun 2021 Class A Common Stock 1,302,750 Held by the Wingaersheek Irrevocable Trust I u/a/d 10/15/2020 F4, F5
transaction FIGS Class B Common Stock Other +1,302,750 1,302,750 01 Jun 2021 Class A Common Stock 1,302,750 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.