FIGS CEO Catherine Eva Spear Sells About 62% Of Reported Stake For $79.7 Million
The block sale followed option exercises; Spear retains Class B shares and vested options beyond her reported Class A holdings.
Catherine Eva Spear, chief executive of Figs, which designs and sells apparel for healthcare professionals, sold $79.7 million of stock Monday, according to an SEC insider-trading filing. The block transaction represented about 62% of her reported pre-filing stake—not 62% of FIGS shares outstanding.
Options Into A Block Sale
Spear sold 4,044,284 Class A shares at an average price of $19.70. The sale came from shares obtained by exercising options, rather than from the separate shares the company kept to pay exercise costs and taxes.
Exercise prices of $0.85 for 7,695,000 shares and $1.37 for 900,000 shares covered Spear's 8,595,000-share option exercise. The two expiration deadlines were February 2028 and June 2028.
Figs retained 4,550,716 shares at $21.58 apiece to cover the exercise prices and required tax payments. That withholding was a separate disposition, not stock sold by Spear.
Her First Sale Since September 2021
Spear's previous common-share sale was in September 2021, excluding transactions solely covering taxes and fees when restricted stock units vested and settled. FIGS shares rose about 75% this year through Friday's close.
Figs sells mainly through its website and mobile app, with physical stores called Community Hubs. Its TEAMS business supplies uniforms to healthcare institutions, medical offices and clinics.
Core scrubwear generated over 60% of net revenue in 2025. The company had approximately 2.9 million active customers as of December 31, 2025, and operates five Community Hubs.
Shares And Options Still Held
Spear reported 2,469,068 remaining securities, comprising 1,671,854 held directly and 797,214 through a trust and Hollywood Capital Partners. Their estimated value was $53.3 million at Monday's close.
The reported holdings include 855,987 restricted stock units—conditional rights to receive Class A shares. Spear can also convert her 5,469,161 Class B shares into Class A shares at any time.
Spear also retains vested options covering 11,389,366 Class A shares, leaving her exposure to Figs extending beyond the securities she already holds.
Sources
- Form 4 — Catherine Eva Spear (FIGS) — SEC EDGAR
