Heather Hasson - Sep 16, 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 Heather L. Hasson
Stock symbol
FIGS
Transactions as of
Sep 16, 2021
Transactions value $
-$99,505,862
Form type
4
Date filed
9/20/2021, 09:47 PM
Previous filing
Jun 14, 2021
Next filing
Nov 17, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FIGS Class A Common Stock Options Exercise $2.1M +2.47M +136.98% $0.85* 4.28M Sep 16, 2021 Direct F1
transaction FIGS Class A Common Stock Tax liability -$2.1M -51.7K -1.21% $40.66* 4.22M Sep 16, 2021 Direct F2
transaction FIGS Class A Common Stock Sale -$97.4M -2.42M -57.29% $40.25* 1.8M Sep 20, 2021 Direct

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 Stock Option (Right to Buy) Options Exercise -$2.1M -2.47M -72.27% $0.85* 948K Sep 16, 2021 Class A Common Stock 2.47M $0.85 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 1,804,397 of these securities are restricted stock units ("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.
F2 Represents shares that have been withheld by the Issuer upon the net exercise of options underlying 2,471,669 shares of the Issuer's Class A Common Stock and does not represent a sale by the Reporting Person.
F3 The Form 3 filed by the Reporting Person on May 27, 2021 erroneously indicated that these options carried an exercise price of $0.86. The correct exercise price is $0.85.
F4 All shares underlying this option have vested.