Tulco, LLC - Jun 1, 2021 Form 4 Insider Report for FIGS, Inc. (FIGS)

Role
10%+ Owner
Signature
TULCO, LLC, By: /s/ Thomas J. Tull, CEO
Stock symbol
FIGS
Transactions as of
Jun 1, 2021
Transactions value $
-$565,574,966
Form type
4
Date filed
6/2/2021, 09:39 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 Sale -$566M -25.7M -28.54% $22.00 64.4M Jun 1, 2021 Direct F1
transaction FIGS Class A Common Stock Other $0 -6.3M -9.79% $0.00 58.1M Jun 1, 2021 Direct F1, F2

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 +6.3M 6.3M Jun 1, 2021 Class A Common Stock 6.3M Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Thomas J. Tull, founder, Chairman and Chief Executive Officer of Tulco, LLC and a member of its board of directors, may control Tulco, LLC. Mr. Tull may be deemed to have or share beneficial ownership of the Class A and Class B common stock held directly by Tulco, LLC. Mr. Tull disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.
F2 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 Tulco, LLC 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 Tulco, LLC, as previously approved by the Issuer's board of directors.
F3 Each share of Class B Common Stock is convertible at any time at the option of Tulco, LLC 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.