FIGS chair sells 32,385 shares for RSU tax cover
FIGS, Inc. Executive Chairman Heather L. Hasson reported an open-market sale of 32,385 shares of Class A Common Stock at a weighted average price of $14.3339 per share.
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Form Type
4
Rhea-AI Filing Summary
FIGS, Inc. Executive Chairman Heather L. Hasson reported an open-market sale of 32,385 shares of Class A Common Stock at a weighted average price of $14.3339 per share. According to the filing, all shares were sold solely to cover taxes and fees owed on vesting RSUs under a pre-arranged Rule 10b5-1 instruction letter.
Following the sale, Hasson directly holds 1,433,807 Class A shares. She also has indirect holdings of 141 Class A shares through Hollywood Capital Partners LLC and 8,338 Class A shares through the Heather Hasson Revocable Trust, along with 984,368 RSUs, 2,814,480 Class B shares convertible into Class A, and 10,995,729 Class A shares underlying vested options.
Insider Trade Summary 10b5-1
Net Seller: 32,385 shares
Net Sell
3 txns
Insider
Hasson Heather L.
Role
Executive Chairman
Sold
32,385 shs ($464K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 32,385 | $14.3339 | $464K |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 1,433,807 shares (Direct);
Class A Common Stock — 8,338 shares (Indirect, Held by the Heather Hasson Revocable Trust);
Class A Common Stock — 141 shares (Indirect, Held by Hollywood Capital Partners LLC)
Footnotes (5)
- F1. THIS FORM 4 CONCERNS THE VESTING AND SETTLEMENT OF RESTRICTED STOCK UNITS ("RSUs"), WHICH SERVE TO INCREASE THE NUMBER OF SHARES OF THE OUTSTANDING CAPITAL STOCK OF THE ISSUER OWNED BY THE REPORTING PERSON, AND THE RELATED SALE OF CERTAIN SHARES REQUIRED PURSUANT TO A 10B5-1 INSTRUCTION LETTER TO SATISFY THE TAX OBLIGATIONS OWED IN CONNECTION WITH THE VESTING AND SETTLEMENT OF SUCH RSUs. SEE ADDITIONAL FOOTNOTES BELOW FOR MORE INFORMATION.
- F2. REPRESENTS THE AGGREGATE NUMBER OF SHARES SOLD BY THE REPORTING PERSON SOLELY TO COVER REQUIRED TAXES AND FEES DUE UPON THE VESTING AND SETTLEMENT OF RSUs. THE SALES WERE MADE PURSUANT TO A 10B5-1 INSTRUCTION LETTER DELIVERED TO THE ISSUER ON MAY 9, 2023, AND NONE OF THE SHARES REPORTED ON THIS FORM 4 WERE SOLD FOR ANY REASON OTHER THAN TO COVER REQUIRED TAXES AND FEES.
- F3. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $14.160 to $14.344 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F4. 984,368 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 beneficially owns 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 one share of Class A Common Stock, and 10,995,729 shares of the Issuer's Class A Common Stock underlying vested options.
- F5. 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.
Key Figures
Shares sold: 32,385 shares
Weighted average sale price: $14.3339 per share
Direct Class A holdings after sale: 1,433,807 shares
+5 more
8 metrics
Shares sold
32,385 shares
Class A Common Stock sold to cover RSU taxes
Weighted average sale price
$14.3339 per share
Open-market sale of 32,385 Class A shares
Direct Class A holdings after sale
1,433,807 shares
Shares of FIGS Class A Common Stock held directly post-transaction
RSUs outstanding
984,368 RSUs
Each RSU represents a contingent right to one Class A share
Class B holdings
2,814,480 shares
Class B shares convertible into Class A at the holder’s option
Vested options
10,995,729 shares
Class A shares underlying vested stock options
Indirect Class A via trust
8,338 shares
Held by the Heather Hasson Revocable Trust
Indirect Class A via LLC
141 shares
Held by Hollywood Capital Partners LLC
Key Terms
restricted stock units ("RSUs"), 10b5-1 instruction letter, weighted average price, pecuniary interest, +1 more
5 terms
restricted stock units ("RSUs") financial
"THIS FORM 4 CONCERNS THE VESTING AND SETTLEMENT OF RESTRICTED STOCK UNITS ("RSUs"), WHICH SERVE TO INCREASE..."
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
10b5-1 instruction letter regulatory
"THE SALES WERE MADE PURSUANT TO A 10B5-1 INSTRUCTION LETTER DELIVERED TO THE ISSUER ON MAY 9, 2023..."
weighted average price financial
"The price reported is a weighted average price. These shares were sold in multiple transactions..."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
pecuniary interest financial
"disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein."
beneficially owns financial
"the Reporting Person beneficially owns 2,814,480 shares of the Issuer's Class B Common Stock directly and indirectly..."
Beneficially owns means a person or entity enjoys the economic benefits and control of a security even if the legal title or registration is held in another name. Think of it like having the keys and profits from a car that is registered to a friend: you use it, benefit from it, and make decisions about it even though the official paperwork lists someone else. For investors, this matters because it reveals who truly controls shares, affects voting power, potential conflicts of interest, and regulatory disclosure obligations.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did FIGS (FIGS) executive Heather Hasson report in this Form 4?
Heather L. Hasson reported selling 32,385 FIGS Class A shares at a weighted average price of $14.3339. The filing states these shares were sold only to cover taxes and fees from vesting restricted stock units under a pre-arranged Rule 10b5-1 instruction letter.
What additional FIGS (FIGS) equity interests are reported for Heather Hasson?
The filing notes 984,368 restricted stock units, each representing one Class A share. Hasson also beneficially owns 2,814,480 Class B shares convertible into Class A, and 10,995,729 Class A shares underlying vested options, illustrating a substantial remaining equity stake beyond the reported tax-related sale.
AI-generated analysis. How Rhea-AI works. Not financial advice.
