Tull Thomas 4
4 · FIGS, Inc. · Filed Jun 2, 2021
Insider Transaction Report
Form 4
FIGS, Inc.FIGS
Tulco, LLC
10% Owner
Transactions
- Other
Class A Common Stock
2021-06-01−6,300,000→ 58,067,602 total - Sale
Class A Common Stock
2021-06-01$22.00/sh−25,707,953$565,574,966→ 64,367,602 total - Other
Class B Common Stock
2021-06-01+6,300,000→ 6,300,000 total→ Class A Common Stock (6,300,000 underlying)
Footnotes (3)
- [F1]Thomas J. Tull, founder, Chairman and Chief Executive Officer of Tulco, LLC and a member of its board of directors, may control Tulco, LLC. Mr. Tull may be deemed to have or share beneficial ownership of the Class A and Class B common stock held directly by Tulco, LLC. Mr. Tull disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.
- [F2]Immediately prior to the completion of the Issuer's initial public offering of Class A Common stock, the shares of the Issuer's Class A Common Stock held by Tulco, LLC were exchanged at a 1:1 ratio for shares of the Issuer's Class B Common Stock pursuant to an exchange agreement between the Issuer and Tulco, LLC, as previously approved by the Issuer's board of directors.
- [F3]Each share of Class B Common Stock is convertible at any time at the option of Tulco, LLC into one share of Class A Common Stock. In addition, each share of Class B common stock will automatically convert into one share of Class A Common Stock upon transfer or certain other events as described in the Issuer's Amended and Restated Certificate of Incorporation. All shares of Class B Common Stock, if not previously converted, will automatically convert into Class A Common Stock on June 1, 2031.