FIGS Form 4: Hasson RSU grant and option repricing reduces exercise price to $6.63
Rhea-AI Filing Summary
FIGS, Inc. insider Heather L. Hasson reported multiple equity transactions on August 12, 2025. The filing shows 947,868 RSUs were acquired with $0 price and 1,298,197 shares of Class A common stock reported as beneficially owned following the RSU grant. The reporting person also holds 2,814,480 Class B shares convertible into Class A and 11,449,396 Class A shares underlying vested options (not reported on this Form 4). The filing discloses a one-time option repricing effective August 12, 2025 that reduced exercise prices for two previously granted, fully vested option pools: 727,097 options from $22.00 to $6.63 and 2,863,828 options from $11.79 to $6.63, with vesting schedules extended and no change to expiration dates or option counts. Some shares are held indirectly through a trust and Hollywood Capital Partners LLC.
Positive
- None.
Negative
- None.
Insights
TL;DR: Insider received RSUs and a material repricing of vested options lowering exercise prices to $6.63, with extended vesting but unchanged expirations.
The Option Repricing effective August 12, 2025 materially amends exercise prices for two large pools of fully vested options previously granted at $22.00 and $11.79 to $6.63, the closing price on the repricing date. The filing states vesting schedules were extended while expiration dates and share counts remain unchanged. The Reporting Person also received 947,868 RSUs that vest quarterly beginning August 1, 2025 and holds substantial additional convertible Class B and vested option exposure not reported on this Form 4. These are material governance actions affecting insider compensation and potential future share issuance.
TL;DR: Large option repricing and new RSUs change the insider's option economics and disclose meaningful equity positions.
The filing documents acquisition of 947,868 RSUs and a repricing that reduces exercise prices for 3,590,925 previously granted options to $6.63 per share, while keeping the number of underlying shares and expiration dates intact. The report also confirms significant additional holdings: 2,814,480 Class B shares convertible to Class A and 11,449,396 shares underlying vested options not recorded on this Form 4. The disclosure quantifies the insider's convertible and option-based equity exposure and clarifies the amended vesting timelines for the repriced options.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Option (Right to Buy) | 727,097 | $0.00 | -- |
| Grant/Award | Stock Option (Right to Buy) | 727,097 | $0.00 | -- |
| Disposition | Stock Option (Right to Buy) | 2,863,828 | $0.00 | -- |
| Grant/Award | Stock Option (Right to Buy) | 2,863,828 | $0.00 | -- |
| Grant/Award | Class A Common Stock | 947,868 | $0.00 | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Footnotes (1)
- These Restricted Stock Units ("RSUs") vest as to 1/16th of the shares of Class A Common Stock underlying the RSUs on each quarterly anniversary following August 1, 2025, subject to the Reporting Person's continued service through the applicable vesting date. 947,868 of these securities are RSUs, each representing a contingent right to receive one share of the Issuer's Class A Common Stock. In addition to the securities reported in this column, the Reporting Person holds 2,814,480 shares of the Issuer's Class B Common Stock directly and indirectly through various trusts, which are convertible at any time at the option of the Reporting Person into an equal number of shares of Class A Common Stock, and 11,449,396 shares of the Issuer's Class A Common Stock underlying vested options, neither of which are reported on this Form 4. The Reporting Person is a managing member of Hollywood Capital Partners LLC and disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein. All shares underlying this option have vested. The transactions reported herein reflect a one-time stock option repricing (the "Option Repricing") effective on August 12, 2025 (the "Repricing Date"). The Option Repricing applies to (i) 727,097 fully vested options originally granted to the Reporting Person on May 26, 2021 with an original exercise price of $22.00 and (ii) 2,863,828 fully vested options originally granted to the Reporting Person on August 9, 2022 with an original exercise price of $11.79. Pursuant to the Option Repricing, the exercise prices of the repriced options have been amended to reduce the exercise price to $6.63 per share, the closing price of the Issuer's Class A Common Stock on the Repricing Date. The vesting schedules of the repriced options have also been extended as reported herein. There is no change to the expiration dates of, or number of shares underlying, the repriced options. For more information, see Part II, Item 5. "Other Information" in the Issuer's Form 10-Q filed with the SEC on 8/7/2025. The option vests and becomes exercisable in 24 equal monthly installments, with the first installment vesting on September 12, 2025. The option vests and becomes exercisable in 48 equal monthly installments, with the first installment vesting on September 12, 2025.
