Form 4: FIGS Inc. Executive Chair Heather Hasson Reports Stock Sale to Cover Tax Obligations

Heather Hasson, Executive Chair of FIGS, Inc., reports the sale of 1,931 shares of Class A Common Stock to cover tax obligations related to the vesting and settlement of Restricted Stock Units (RSUs).

Summary

• On March 10, 2025, Heather Hasson, Executive Chair of FIGS, Inc., sold 1,931 shares of Class A Common Stock at a price of $4.8292 per share.
• The sale was executed to cover tax obligations arising from the vesting and settlement of Restricted Stock Units (RSUs).
• The sale was conducted under a pre-arranged 10b5-1 trading plan established on May 9, 2023.
• Following the transaction, Hasson directly owns 352,290 shares of Class A Common Stock, including 7,102 RSUs.
• Hasson also indirectly owns 8,338 shares through the Heather Hasson Revocable Trust and 141 shares through Hollywood Capital Partners LLC.
• Additionally, Hasson indirectly owns 2,814,480 shares of Class B Common Stock and has vested options for 14,994,877 shares of Class A Common Stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral. The filing represents a routine transaction related to executive compensation and tax obligations. The use of a 10b5-1 plan suggests a proactive approach to compliance.

Industry Context

This Form 4 filing is a routine disclosure related to executive stock transactions and is common for publicly traded companies. The use of a 10b5-1 plan is a standard practice to allow insiders to sell shares while avoiding accusations of insider trading.

Comparison to Industry Standards

• The use of 10b5-1 trading plans is a common practice among executives in publicly traded companies, including those in the apparel and retail sectors, such as Lululemon, Nike, and Under Armour, to manage their stock sales and avoid insider trading concerns.
• The reported stock sales to cover tax obligations related to RSU vesting are also typical for executives receiving equity compensation, aligning with practices observed in similar companies.

Stakeholder Impact

• The stock sale is unlikely to have a significant impact on shareholders, as it is a relatively small transaction executed under a pre-arranged trading plan.
• The transaction does not directly affect employees, customers, suppliers, or creditors.

Key Dates