FIGS, Inc. Files 2024 Proxy Statement

Ticker: FIGS · Form: DEF 14A · Filed: 2024-04-24T00:00:00.000Z

Sentiment: neutral

Topics: FIGS, DEF 14A, Proxy Statement, Executive Compensation, Corporate Governance

TL;DR

<b>FIGS, Inc. has filed its 2024 proxy statement detailing executive compensation and corporate governance for the 2023 fiscal year.</b>

AI Summary

FIGS, Inc. (FIGS) filed a Proxy Statement (DEF 14A) with the SEC on April 24, 2024. FIGS, Inc. filed a DEF 14A on April 24, 2024, for the fiscal year ending December 31, 2023. The filing details executive compensation and other corporate governance matters. Key personnel mentioned include Catherine Spear and Heather Hasson. The company's principal executive offices are located at 2834 Colorado Avenue, Suite 100, Santa Monica, CA 90404. The filing covers equity awards granted and vested during the covered year.

Why It Matters

For investors and stakeholders tracking FIGS, Inc., this filing contains several important signals. This filing provides shareholders with crucial information regarding how executive compensation is structured and awarded, enabling informed voting decisions. It outlines the company's governance practices, including details on equity awards, which can impact shareholder value and company performance.

Risk Assessment

Risk Level: — FIGS, Inc. shows moderate risk based on this filing. The filing is a routine DEF 14A, which is standard for public companies and does not contain new material financial information or significant operational changes.

Analyst Insight

Review the executive compensation details and voting proposals to make informed decisions before the shareholder meeting.

Key Numbers

Key Players & Entities

FAQ

When did FIGS, Inc. file this DEF 14A?

FIGS, Inc. filed this Proxy Statement (DEF 14A) with the SEC on April 24, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by FIGS, Inc. (FIGS).

Where can I read the original DEF 14A filing from FIGS, Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by FIGS, Inc..

What are the key takeaways from FIGS, Inc.'s DEF 14A?

FIGS, Inc. filed this DEF 14A on April 24, 2024. Key takeaways: FIGS, Inc. filed a DEF 14A on April 24, 2024, for the fiscal year ending December 31, 2023.. The filing details executive compensation and other corporate governance matters.. Key personnel mentioned include Catherine Spear and Heather Hasson..

Is FIGS, Inc. a risky investment based on this filing?

Based on this DEF 14A, FIGS, Inc. presents a moderate-risk profile. The filing is a routine DEF 14A, which is standard for public companies and does not contain new material financial information or significant operational changes.

What should investors do after reading FIGS, Inc.'s DEF 14A?

Review the executive compensation details and voting proposals to make informed decisions before the shareholder meeting. The overall sentiment from this filing is neutral.

How does FIGS, Inc. compare to its industry peers?

FIGS, Inc. operates in the apparel industry, specifically focusing on healthcare apparel. This filing is a standard proxy statement required for publicly traded companies.

Are there regulatory concerns for FIGS, Inc.?

The filing is made under Schedule 14A of the Securities Exchange Act of 1934, which governs the solicitation of proxies from shareholders.

Industry Context

FIGS, Inc. operates in the apparel industry, specifically focusing on healthcare apparel. This filing is a standard proxy statement required for publicly traded companies.

Regulatory Implications

The filing is made under Schedule 14A of the Securities Exchange Act of 1934, which governs the solicitation of proxies from shareholders.

What Investors Should Do

  1. Review the detailed executive compensation packages for named executive officers.
  2. Analyze the proposals being put forth for shareholder vote, such as director elections or advisory resolutions.
  3. Understand the company's approach to equity awards and their potential impact on dilution and shareholder value.

Key Dates

Year-Over-Year Comparison

This is a DEF 14A filing, which is a routine annual disclosure. Specific comparative data from the previous year's filing is not detailed within this extract.

Filing Stats: 4,878 words · 20 min read · ~16 pages · Grade level 11.5 · Accepted 2024-04-24 16:29:41

Key Financial Figures

Filing Documents

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 35 Compensation Discussion and Analysis 35

Executive Compensation Tables

Executive Compensation Tables 45 Summary Compensation Table 45 Grants of Plan-Based Awards in Fiscal 2023 45 Narrative Disclosure to Summary Compensation Table and Grants of Plan-Based Awards Table 46 Outstanding Equity Awards at Fiscal Year-End Table 47 Option Exercises and Stock Vested in Fiscal 2023 49 Potential Payments Upon Termination or Change in Control 49 Pay Versus Performance Table 51 CEO Pay Ratio 55 Compensation Risk Assessment 55 DIRECTOR COMPENSATION 57 EQUITY COMPENSATION PLAN INFORMATION 59

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT 60 CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS 63 STOCKHOLDERS' PROPOSALS 65 OTHER MATTERS 65 SOLICITATION OF PROXIES 65 4 Table of Contents FIGS' ANNUAL REPORT ON FORM 10-K 66 APPENDIX A-1 5 Table of Contents FIGS, INC. 2834 Colorado Avenue, Suite 100 Santa Monica, California 90404 NOTICE OF ANNUAL MEETING OF STOCKHOLDERS TO BE HELD WEDNESDAY, JUNE 5, 2024 The Annual Meeting of Stockholders (the "Annual Meeting") of FIGS, Inc., a Delaware corporation (the "Company"), will be held at 1:30 p.m. Pacific time on Wednesday, June 5, 2024. The Annual Meeting will be a completely virtual meeting, which will be conducted via live webcast. You will be able to attend the Annual Meeting online and submit your questions during the meeting by visiting www.virtualshareholdermeeting.com/FIGS2024 and entering your 16-digit control number included in your Notice of Internet Availability of Proxy Materials, on your proxy card or on the instructions that accompanied your proxy materials. The Annual Meeting will be held for the following purposes: To elect A.G. Lafley, Jeffrey Wilke and J. Martin Willhite as Class III Directors to serve until the 2027 Annual Meeting of Stockholders, and until their respective successors have been duly elected and qualified; To ratify the appointment of Ernst & Young LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2024; To approve, on an advisory (non-binding) basis, the compensation of our named executive officers; and To transact such other business as may properly come before the Annual Meeting or any continuation, postponement or adjournment of the Annual Meeting. Holders of record of our Class A common stock and Class B common stock as of the close of business on April 10, 2024 are entitled to notice of and to vote at the Annual Meeting, or any continuation, postponement or adjournment o

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