Quote Originally Posted by LaZodiac View Post
It's a literal flashback with a metaphorical bent. The panels of it after showing that guy (who is a little roughed up and holding a hand out to stop someone) are her, the mask cracking off, holding a bloody box cutter. This is the memory of her first kill, or at least first human kill.
See I don’t agree. The order of the panels is her fitting in with others with the mask, focus on the mask, someone who looks like Deku winding up a punch, then the mask starts to crack.

It’s not intended to be literal, because her obsession with Deku comes later. It’s symbolic of her seeing someone not trying to fit in and realising it was an option for her as well. And we know that was originally Stain, but has been replaced with Deku because that’s how her head works, she becomes obsessed with an individual to the point she wants to kill and become them.