Catherine Spear - Nov 15, 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 E. Spear
Stock symbol
FIGS
Transactions as of
Nov 15, 2021
Transactions value $
-$3,053,778
Form type
4
Date filed
11/17/2021, 08:06 PM
Previous filing
Sep 20, 2021
Next filing
Dec 1, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FIGS Class A Common Stock Sale -$3.05M -89.1K -4.94% $34.29* 1.72M Nov 15, 2021 Direct F1, F2
transaction FIGS Class A Common Stock Other $0 -83.6K -4.87% $0.00 1.63M Nov 16, 2021 Direct F3, 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 $0 +83.6K +16.35% $0.00 595K Nov 16, 2021 Class A Common Stock 83.6K Direct F3, F5
holding FIGS Class B Common Stock 1.47M Nov 15, 2021 Class A Common Stock 1.47M Held by the Catherine Spear Revocable Trust F5
holding FIGS Class B Common Stock 983K Nov 15, 2021 Class A Common Stock 983K Held by the Wingaersheek Irrevocable Trust I u/a/d 10/15/2020 F5
holding FIGS Class B Common Stock 983K Nov 15, 2021 Class A Common Stock 983K Held by the Wingaersheek Irrevocable Trust II u/a/d 10/15/2020 F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the aggregate number of shares sold by the Reporting Person to cover taxes and fees due upon the vesting and settlement of Restricted Stock Units ("RSUs"). The Reporting Person did not sell any of the shares reported on this Form 4 for any reason other than to cover required taxes and fees.
F2 The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $33.890 to $34.292 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
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 (the "Equity Award Exchange Right Agreement").
F4 All but 3,511 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 certain of the RSUs, certain 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 the Equity Award Exchange Right Agreement.
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.