FIGS, Inc. Reports Board Changes and Compensation Updates
Ticker: FIGS · Form: 8-K · Filed: 2024-12-19T00:00:00.000Z
Sentiment: neutral
Topics: board-changes, executive-compensation, regulation-fd
Related Tickers: FIGS
TL;DR
FIGS board shakeup & comp changes filed. Watch for new exec strategy.
AI Summary
On December 16, 2024, FIGS, Inc. filed an 8-K report detailing changes in its board of directors and executive compensation. The filing includes the election of new directors and updates to compensatory arrangements for certain officers, alongside a Regulation FD disclosure and financial statements.
Why It Matters
Changes in a company's board and executive compensation can signal shifts in strategy, governance, or financial outlook, impacting investor confidence and stock performance.
Risk Assessment
Risk Level: medium — Changes in board composition and executive compensation can indicate internal shifts that may affect future performance and strategy.
Key Numbers
- 001-40448 — SEC File Number (Identifies the company's filing history with the SEC.)
- 46-2005653 — IRS Employer Identification No. (Company's tax identification number.)
Key Players & Entities
- FIGS, Inc. (company) — Registrant
- Delaware (jurisdiction) — State of Incorporation
- December 16, 2024 (date) — Date of earliest event reported
- 2834 Colorado Avenue, Suite 100, Santa Monica, California 90404 (address) — Principal Executive Offices
- (424) 300-8330 (phone_number) — Registrant's Telephone Number
FAQ
What specific changes were made to the board of directors?
The filing indicates the election of directors, but the specific names and details of the changes are not provided in this summary section of the 8-K.
What are the key updates regarding compensatory arrangements for officers?
The filing mentions updates to compensatory arrangements for certain officers, but the specific details of these arrangements are not elaborated in this section.
What is the significance of the Regulation FD Disclosure?
A Regulation FD Disclosure ensures that material non-public information is broadly disseminated to the public, preventing selective disclosure.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on December 16, 2024.
What is the primary business of FIGS, Inc. based on the SIC code?
Based on the Standard Industrial Classification (SIC) code [2300], FIGS, Inc. is involved in Apparel & Other Finished Products of Fabrics & Similar Material.
Filing Stats: 1,203 words · 5 min read · ~4 pages · Grade level 10.9 · Accepted 2024-12-19 07:45:09
Key Financial Figures
- $0.0001 — which registered Class A common stock, $0.0001 par value per share FIGS New York Stock
- $50,000 — for (i) an annual cash retainer of (a) $50,000 for serving on the Board, (b) $15,000 f
- $15,000 — ) $50,000 for serving on the Board, (b) $15,000 for service as chairperson of the Compe
- $5,000 — n of the Compensation Committee and (c) $5,000 for service as a member of the Nominati
- $150,000, m — Company's Class A common stock equal to $150,000, multiplied by a fraction, (a) the numerat
- $150,000 — of Class A common stock with a value of $150,000, and that vests in full on the earlier
Filing Documents
- figs-20241216.htm (8-K) — 38KB
- figs-20241219xexhibit.htm (EX-99.1) — 13KB
- logo2.jpg (GRAPHIC) — 97KB
- 0001628280-24-051954.txt ( ) — 315KB
- figs-20241216.xsd (EX-101.SCH) — 2KB
- figs-20241216_lab.xml (EX-101.LAB) — 22KB
- figs-20241216_pre.xml (EX-101.PRE) — 13KB
- figs-20241216_htm.xml (XML) — 3KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On December 19, 2024, the Company issued a press release announcing the appointment of Ms. Whelan to the Board and the resignation of Mr. Lafley from the Board. The full text of that press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K (this " Report "). The information in Item 7.01 of this Report (including Exhibit 99.1 attached hereto) shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the " Exchange Act "), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly provided by specific reference in such a filing.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1* Press Release of the Company, dated December 19 , 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) * This exhibit related to Item 7.01 shall be deemed to be furnished, and not filed.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. FIGS, INC. Date: December 19, 2024 By: /s/ Todd Maron Name: Todd Maron Title: Chief Legal Officer