Form 4: FIGS Inc. Executive Chair Heather Hasson Sells Shares to Cover Tax Obligations

Heather Hasson, Executive Chair of FIGS, Inc., sold 3,011 shares of Class A Common Stock to cover tax obligations related to the vesting and settlement of restricted stock units (RSUs).

Summary

• Heather Hasson, the Executive Chair of FIGS, Inc., reported a transaction on June 4, 2024, involving the sale of 3,011 shares of Class A Common Stock.
• The sale was executed at a price of $5.1864 per share.
• This transaction was conducted to cover tax obligations arising from the vesting and settlement of restricted stock units (RSUs).
• The sales were made pursuant to a 10b5-1 instruction letter delivered to the issuer on May 9, 2023.
• Following the reported transaction, Hasson directly owns 465,859 shares of Class A Common Stock.
• Hasson also indirectly owns 8,338 shares through the Heather Hasson Revocable Trust and 141 shares through Hollywood Capital Partners LLC.
• Hasson also beneficially owns 2,814,480 shares of Class B Common Stock and 14,167,278 shares of Class A Common Stock underlying vested options.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the transaction is a routine sale of shares to cover tax obligations and doesn't necessarily indicate a positive or negative outlook for the company.

Industry Context

Sales of shares to cover tax obligations are a common practice among executives who receive equity compensation. The use of a 10b5-1 plan indicates that the sales were pre-planned and not based on insider information.

Key Dates