Form 4: FIGS Inc. Interim CFO Kevin Fosty Reports Stock Sale to Cover Tax Obligations

Interim CFO of FIGS, Inc., Kevin Fosty, reports the sale of shares to cover tax obligations related to the vesting and settlement of restricted stock units (RSUs).

Summary

• Kevin Fosty, the Interim CFO of FIGS, Inc., filed a Form 4 detailing changes in beneficial ownership.
• On June 4, 2024, Fosty sold 19 shares of Class A Common Stock at a price of $5.1864 per share.
• The sale was executed under a pre-arranged 10b5-1 trading plan to cover tax obligations arising from the vesting and settlement of RSUs.
• Following the transaction, Fosty beneficially owns 66,995 shares, the majority of which are RSUs representing a contingent right to receive one share of the Issuer's Class A Common Stock.
• Fosty also owns 27,973 shares of the Issuer's Class A Common Stock underlying vested options.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the filing reports a routine transaction (stock sale for tax obligations) by an insider, which is a normal part of corporate governance.

Industry Context

Form 4 filings are standard practice for company insiders to report transactions in their company's stock, providing transparency to investors.

Stakeholder Impact

• The transaction is unlikely to have a significant impact on stakeholders as it is a routine sale to cover tax obligations.

Key Dates