Heather Hasson - Dec 2, 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
Dec 2, 2021
Transactions value $
-$2,181,535
Form type
4
Date filed
12/6/2021, 07:41 PM
Previous filing
Dec 1, 2021
Next filing
Mar 4, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FIGS Class A Common Stock Sale -$2.18M -71.3K -4.38% $30.60 1.56M Dec 2, 2021 Direct F1, F2
transaction FIGS Class A Common Stock Other $0 -97.8K -6.28% $0.00 1.46M Dec 3, 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 +97.8K +13.94% $0.00 799K Dec 3, 2021 Class A Common Stock 97.8K Direct F3, F5
holding FIGS Class B Common Stock 942K Dec 2, 2021 Class A Common Stock 942K Held by The Maple Tree Irrevocable Trust u/a/d 10/16/2020 F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 THIS FORM 4 CONCERNS THE VESTING AND SETTLEMENT OF RESTRICTED STOCK UNITS ("RSUs"), WHICH SERVE TO INCREASE THE NUMBER OF SHARES OF THE OUTSTANDING CAPITAL STOCK OF THE ISSUER OWNED BY THE REPORTING PERSON, THE RELATED SALE OF CERTAIN SHARES REQUIRED TO SATISFY THE TAX OBLIGATIONS OWED IN CONNECTION WITH THE VESTING AND SETTLEMENT OF SUCH RSUs AND THE EXCHANGE BY THE REPORTING PERSON OF CERTAIN SHARES OF THE ISSUER'S CLASS A COMMON STOCK FOR SHARES OF THE ISSUER'S CLASS B COMMON STOCK. SEE ADDITIONAL FOOTNOTES BELOW FOR MORE INFORMATION.
F2 REPRESENTS THE AGGREGATE NUMBER OF SHARES SOLD BY THE REPORTING PERSON SOLELY TO COVER REQUIRED TAXES AND FEES DUE UPON THE VESTING AND SETTLEMENT OF RSUs. THE REPORTING PERSON DID NOT SELL OR OTHERWISE DISPOSE OF ANY OF THE SHARES REPORTED ON THIS FORM 4 FOR ANY REASON OTHER THAN TO COVER REQUIRED TAXES AND FEES.
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 8,338 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.

Remarks:

The number of shares listed in column 5 of Table I and column 9 of Table II do not include stock options held by the Reporting Person.