Form 4: FIGS Executive Chairman Sells Shares for Tax Obligations

Executive Chairman Heather Hasson sold 32,385 shares of FIGS, Inc. to satisfy tax withholding obligations related to RSU vesting.

Summary

• Executive Chairman Heather Hasson sold 32,385 shares of Class A Common Stock on May 4, 2026.
• The shares were sold at a weighted average price of $14.3339 per share.
• The transaction was executed pursuant to a Rule 10b5-1 trading plan established on May 9, 2023.
• The sale was conducted solely to cover tax withholding obligations resulting from the vesting and settlement of Restricted Stock Units (RSUs).

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, as the transaction is a routine administrative action related to tax obligations rather than a strategic shift.

Positives

• The sale was non-discretionary and executed under a pre-existing Rule 10b5-1 plan, indicating the transaction was for tax compliance rather than a change in outlook on the company.

Negatives

• The transaction results in a reduction of the direct shareholding of the Executive Chairman.

Risks

• Reliance on Rule 10b5-1 plans for liquidity and tax obligations.
• Market volatility affecting the value of remaining holdings in Class A and Class B common stock.

Future Outlook

No specific forward-looking guidance regarding company operations was provided in this filing.

Management Comments

• The sales were made pursuant to a 10b5-1 instruction letter and none of the shares were sold for any reason other than to cover required taxes and fees.

Industry Context

StockSavvy.ai notes that insider sales for tax coverage upon RSU vesting are standard corporate governance practices and generally do not signal a lack of confidence in the company's long-term strategy.

Comparison to Industry Standards

• The use of Rule 10b5-1 plans for tax-related divestment is a standard practice among executives in the apparel and retail sector to ensure compliance with SEC regulations.

Corporate Governance

Related Party Transactions

• The reporting person holds shares through the Heather Hasson Revocable Trust and Hollywood Capital Partners LLC.

Stakeholder Impact

• Minimal impact on shareholders as the sale was pre-planned and limited to tax obligations.

Next Steps

• Continued reporting of beneficial ownership changes as required by Section 16(a) of the Securities Exchange Act.

Key Dates

Keywords

FIGS, Insider Trading, Form 4, Executive Compensation, Tax Withholding, Rule 10b5-1