Tulco, LLC - 21 Mar 2022 Form 4 Insider Report for FIGS, Inc. (FIGS)

Role
10%+ Owner
Signature
TULCO, LLC, By: /s/ Thomas J. Tull, CEO
Issuer symbol
FIGS
Transactions as of
21 Mar 2022
Net transactions value
$0
Form type
4
Filing time
23 Mar 2022, 16:16:40 UTC
Previous filing
20 Sep 2021
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 Conversion of derivative security $0 +6,300,000 +12% $0.000000 58,000,932 21 Mar 2022 Direct
transaction FIGS Class A Common Stock Other $0 -58,000,932 -100% $0.000000* 0 21 Mar 2022 Direct F1

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 Conversion of derivative security $0 -6,300,000 -100% $0.000000* 0 21 Mar 2022 Class A Common Stock 6,300,000 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Tulco, LLC is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 On March 21, 2022, Tulco, LLC distributed to its members in-kind, without consideration, all 58,000,932 shares of the Issuer's Class A Common Stock it held on a pro-rata basis. Of the shares distributed, 27,426,398 were distributed to Thomas J. Tull and certain entities affiliated with him. The above distribution did not involve any sale of shares by the reporting person.
F2 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.