FIGS, Inc. Files 8-K: Board Changes & Compensation Updates

Ticker: FIGS · Form: 8-K · Filed: 2025-04-03T00:00:00.000Z

Sentiment: neutral

Topics: board-changes, executive-compensation, regulation-fd

Related Tickers: FIGS

TL;DR

FIGS board shakeup and comp plan changes filed. Watch for new exec direction.

AI Summary

On March 31, 2025, FIGS, Inc. filed an 8-K report detailing changes in its board of directors and executive compensation arrangements. The filing includes the departure of certain directors and the election of new ones, alongside updates to compensatory plans for its officers. This report also covers Regulation FD disclosures and financial statement exhibits.

Why It Matters

Changes in board composition and executive compensation can signal shifts in company strategy, governance, and future financial performance.

Risk Assessment

Risk Level: medium — Changes in board and executive compensation can indicate strategic shifts or internal adjustments that may impact future performance.

Key Players & Entities

FAQ

What specific changes were made to the board of directors?

The filing indicates the departure of certain directors and the election of new directors, though specific names are not detailed in the provided excerpt.

What is the nature of the updates to compensatory arrangements?

The filing mentions updates to compensatory arrangements for certain officers, but the specific details of these arrangements are not provided in the excerpt.

What is the primary purpose of this 8-K filing?

The primary purpose is to report significant corporate events, including the departure and election of directors, and changes to executive compensation, as of March 31, 2025.

When was this report filed with the SEC?

This report was filed on April 3, 2025.

What is the company's principal executive office address?

The company's principal executive office is located at 2834 Colorado Avenue, Suite 100, Santa Monica, California 90404.

From the Filing

0001628280-25-016376.txt : 20250403 0001628280-25-016376.hdr.sgml : 20250403 20250403082522 ACCESSION NUMBER: 0001628280-25-016376 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20250331 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20250403 DATE AS OF CHANGE: 20250403 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIGS, Inc. CENTRAL INDEX KEY: 0001846576 STANDARD INDUSTRIAL CLASSIFICATION: APPAREL & OTHER FINISHED PRODS OF FABRICS & SIMILAR MATERIAL [2300] ORGANIZATION NAME: 04 Manufacturing EIN: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-40448 FILM NUMBER: 25807591 BUSINESS ADDRESS: STREET 1: 2834 COLORADO AVENUE STREET 2: SUITE 100 CITY: SANTA MONICA STATE: CA ZIP: 90404 BUSINESS PHONE: 420-500-8209 MAIL ADDRESS: STREET 1: 2834 COLORADO AVENUE STREET 2: SUITE 100 CITY: SANTA MONICA STATE: CA ZIP: 90404 8-K 1 figs-20250331.htm 8-K figs-20250331 0001846576 FALSE 0001846576 2025-03-31 2025-03-31 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 31, 2025 FIGS, Inc. (Exact name of Registrant as Specified in Its Charter) Delaware 001-40448 46-2005653 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.)           2834 Colorado Avenue , Suite 100   Santa Monica , California   90404 (Address of Principal Executive Offices)   (Zip Code) Registrant’s Telephone Number, Including Area Code: (424) 300-8330 Not Applicable (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Class A common stock, $0.0001 par value per share FIGS New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On March 31, 2025, the board of directors (the “ Board ”) of FIGS, Inc. (the “ Company ”) appointed Jerry Jao to serve as a member of the Board, effective April 1, 2025 (the “ Effective Date ”). Mr. Jao will serve as a Class III director with a term expiring at the 2027 annual meeting of stockholders and until his successor is elected and qualified or his earlier death, disqualification, resignation or removal. The Board also app

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