Thomas J. Tull - 11 Jan 2025 Form 4 Insider Report for FIGS, Inc. (FIGS)

Role
10%+ Owner
Signature
/s/ Thomas J. Tull
Issuer symbol
FIGS
Transactions as of
11 Jan 2025
Net transactions value
-$118,999,994
Form type
4
Filing time
14 Jan 2025, 17:48:12 UTC
Previous filing
10 Jan 2025
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 Exercise of in-the-money or at-the-money derivative security $118,999,994 -19,039,999 -74% $6.25 6,675,631 11 Jan 2025 By Tull Family Trust F1, F2, F3
holding FIGS Class A Common Stock 2,101,277 11 Jan 2025 Direct
holding FIGS Class A Common Stock 16,918 11 Jan 2025 By First Light Investors, LLC 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 Put Option (right to sell) Exercise of in-the-money or at-the-money derivative security $0 -19,039,999 -100% $0.000000 0 11 Jan 2025 Class A Common Stock 19,039,999 $6.25 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Thomas J. Tull is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 On January 11, 2025, pursuant to the Put-Call Agreement dated January 7, 2025 among BAMCO, Inc. (the "Buyer"), a wholly-owned subsidiary of Baron Capital Group, Inc., Thomas J. Tull, in his individual capacity ("Tull"), Thomas J. Tull, in his capacity as trustee of the Tull Family Trust, u/a/d August 1, 2005, as amended ("Tull Family Trust"), and First Light Investors, LLC, which is controlled by Tull's spouse ("First Light" and, collectively with Tull and Tull Family Trust, the "Sellers"), the Sellers exercised the right to require the Buyer to purchase from the Sellers 19,039,999 shares of Class A Common Stock of the Issuer at a price equal to $6.25 per share.
F2 Includes 45,455 shares of Class A Common Stock held by the Tull Family Trust and inadvertently omitted from prior filings.
F3 Represents securities held directly by the Tull Family Trust, of which the reporting person is the trustee. The reporting person disclaims beneficial ownership of the securities held by the Tull Family Trust, except to the extent of his pecuniary interest therein.
F4 Represents securities held directly by First Light Investors, LLC, which is controlled by the reporting person's spouse. The reporting person disclaims beneficial ownership of the securities held by First Light Investors, LLC, except to the extent of his pecuniary interest therein.