Form 4: FIGS Inc. Executive Chair Sells Shares to Cover Tax Obligations Following RSU Vesting

Heather Hasson, Executive Chair of FIGS Inc., sold 3,076 shares of Class A Common Stock to cover tax obligations related to the vesting of restricted stock units (RSUs).

Summary

• Heather Hasson, the Executive Chair of FIGS Inc., sold 3,076 shares of Class A Common Stock at a price of $5.1868 per share.
• This sale was conducted on December 4, 2024, and was solely to cover tax obligations and fees associated with the vesting of restricted stock units (RSUs).
• The sale was executed under a pre-arranged 10b5-1 trading plan established on May 9, 2023.
• Following the transaction, Ms. Hasson directly owns 381,076 shares of Class A Common Stock.
• She also indirectly owns 8,338 shares through the Heather Hasson Revocable Trust and 141 shares through Hollywood Capital Partners LLC.
• Additionally, Ms. Hasson holds 110,227 RSUs, each representing a contingent right to receive one share of Class A Common Stock.
• She also beneficially owns 2,814,480 shares of Class B Common Stock and 14,850,681 shares of Class A Common Stock underlying vested options.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation and tax obligations. There is no indication of any negative or positive sentiment, it is a standard process.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. The use of a 10b5-1 plan indicates a pre-planned approach to managing tax obligations.

Comparison to Industry Standards

• The use of 10b5-1 trading plans is a common practice among executives at publicly traded companies to avoid accusations of insider trading.
• The sale of shares to cover tax obligations is a standard procedure when restricted stock units vest.
• Many companies such as Nike, Lululemon, and Under Armour have similar executive compensation structures that include RSUs and stock options.

Stakeholder Impact

• The sale of shares by an executive may have a minor impact on the stock price, but this is a routine transaction and is unlikely to cause significant volatility.

Key Dates

Keywords

FIGS Inc., Heather Hasson, Executive Chair, Class A Common Stock, Restricted Stock Units, RSUs, 10b5-1 Trading Plan, Tax Obligations, Share Sale, Beneficial Ownership