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FIGS, Inc.·4

Mar 3, 5:19 PM ET

Hasson Heather L. 4

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FIGS Heather Hasson (10% Owner) Exercises Options, Sells Shares

What Happened
Heather L. Hasson (reported as a 10% owner) exercised stock options on 2026-03-02 and then completed share dispositions. The filing shows option exercises that resulted in acquired shares of 313,336 at $0.85 (cost $266,336) and 900,000 at $1.37 (cost $1,233,000). The issuer withheld 657,009 shares to satisfy the exercise price and tax withholdings (reported value $11,247,994). Separately, Hasson sold 556,327 shares in open-market transactions on 2026-03-03 for a weighted average price of $16.85, totaling about $9,375,334.

Key Details

  • Transaction dates: exercises and withholding on 2026-03-02; open-market sale on 2026-03-03. Filing date: 2026-03-03 (appears timely).
  • Exercise breakdown reported: 313,336 shares @ $0.85 ($266,336) and 900,000 shares @ $1.37 ($1,233,000).
  • Withholding to pay exercise price/taxes: 657,009 shares @ $17.12 (reported $11,247,994). Footnote F1 clarifies withheld shares are not a sale by the reporting person.
  • Open-market sale: 556,327 shares @ weighted avg $16.85 ($9,375,334). Footnote F2 notes sale prices ranged $16.31–$17.19 and the weighted average is reported.
  • Reported beneficial holdings (per footnote F3): 829,385 RSUs; 2,814,480 Class B shares (convertible); and 10,775,812 Class A shares underlying vested options. F5 notes all option shares underlying the exercised option(s) have vested.
  • F4 notes Hasson is managing member of Hollywood Capital Partners LLC and disclaims beneficial ownership of those LLC-held securities except to extent of pecuniary interest.

Context

  • This was an option exercise followed by share withholding to cover taxes/exercise costs (a common "cashless" or net-share settlement step) and a separate open-market sale. Footnote F1 emphasizes withheld shares are not a sale by Hasson; the open-market sale is the cash realization reported.
  • As a 10% owner, Hasson is a large shareholder; such transactions can reflect personal liquidity or routine option exercises rather than a signal about company fundamentals. The filing shows the exercises and the subsequent sale/withholding but does not state motivation.