Heather Hasson - Jul 11, 2023 Form 4 Insider Report for FIGS, Inc. (FIGS)

Role
Executive Chair, Director, 10%+ Owner
Signature
/s/ Danielle Warner, Attorney-in-Fact for Heather L. Hasson
Stock symbol
FIGS
Transactions as of
Jul 11, 2023
Transactions value $
-$433,408
Form type
4
Date filed
7/13/2023, 05:24 PM
Previous filing
Jul 6, 2023
Next filing
Jul 18, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FIGS Class A Common Stock Options Exercise $9.64K +11.3K +0.85% $0.85* 1.34M Jul 11, 2023 Direct
transaction FIGS Class A Common Stock Sale -$90.9K -11.3K -0.85% $8.01 1.33M Jul 11, 2023 Direct F1, F2
transaction FIGS Class A Common Stock Options Exercise $4.19K +4.93K +0.37% $0.85* 1.34M Jul 12, 2023 Direct
transaction FIGS Class A Common Stock Sale -$39.8K -4.93K -0.37% $8.07 1.33M Jul 12, 2023 Direct F1, F3
transaction FIGS Class A Common Stock Options Exercise $37.4K +44K +3.31% $0.85* 1.38M Jul 13, 2023 Direct
transaction FIGS Class A Common Stock Sale -$354K -44K -3.2% $8.05 1.33M Jul 13, 2023 Direct F1, F4, F5
holding FIGS Class A Common Stock 8.34K Jul 11, 2023 Held by the Heather Hasson Revocable Trust
holding FIGS Class A Common Stock 141 Jul 11, 2023 Held by Hollywood Capital Partners LLC F6

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 $0 -11.3K -2.82% $0.00 391K Jul 11, 2023 Class A Common Stock 11.3K $0.85 Direct F7
transaction FIGS Stock Option (Right to Buy) Options Exercise $0 -4.93K -1.26% $0.00 386K Jul 12, 2023 Class A Common Stock 4.93K $0.85 Direct F7
transaction FIGS Stock Option (Right to Buy) Options Exercise $0 -44K -11.4% $0.00 342K Jul 13, 2023 Class A Common Stock 44K $0.85 Direct F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 The reported sale occurred pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on 3/16/2023, as previously disclosed on her Schedule 13D/A filed on 3/21/2023.
F2 The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $8.00 to $8.02 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 The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $8.00 to $8.19 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.
F4 The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $8.00 to $8.095 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.
F5 All but 264,045 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 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 an equity award exchange right agreement between the Issuer and the Reporting Person. In addition to the securities reported in this column, the Reporting Person beneficially owns 2,617,943 shares of the Issuer's Class B Common Stock directly and indirectly through various trusts, which are convertible at any time at the option of the Reporting Person into one share of Class A Common Stock, and 12,942,820 shares of the Issuer's Class A Common Stock underlying vested options (inclusive of those reported in column 9 of Table II).
F6 The Reporting Person is a managing member of Hollywood Capital Partners LLC and disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.
F7 All shares underlying this option have vested.