Form 4: FIGS Director Melanie Whelan Receives Annual Equity Grant of 29,412 Restricted Stock Units

FIGS, Inc. Director Melanie Whelan was granted 29,412 restricted stock units (RSUs) as part of her annual equity compensation, increasing her total beneficial ownership to 40,227 shares.

Summary

• Melanie Whelan, a Director of FIGS, Inc., acquired 29,412 shares of Class A Common Stock in the form of Restricted Stock Units (RSUs) on June 4, 2025.
• The RSUs were granted at a price of $0 per share, consistent with an equity compensation grant.
• This grant is part of the Issuer's Non-Employee Director Compensation Program and was automatically issued on the date of the 2025 annual meeting of stockholders.
• Following this transaction, Melanie Whelan beneficially owns a total of 40,227 securities, of which 29,412 are RSUs.
• The RSUs are scheduled to vest in full on the earlier of the one-year anniversary of June 4, 2025, or the date of the Issuer's next annual meeting of stockholders following June 4, 2025, contingent on continued service.

Sentiment

Score: 6

Explanation: The sentiment is mildly positive as it reflects a standard, expected compensation event for a director, aligning their interests with the company's performance. It does not indicate any negative operational or financial news.

Positives

• The grant of Restricted Stock Units aligns the interests of Director Melanie Whelan with those of shareholders, as the value of her compensation is tied to the company's stock performance.
• This RSU grant is part of a standard, pre-defined Non-Employee Director Compensation Program, indicating a structured approach to executive and director remuneration.

Future Outlook

The document indicates future vesting events for the granted Restricted Stock Units, contingent on the director's continued service, aligning future compensation with ongoing contributions.

Industry Context

This Form 4 filing reflects a routine equity compensation event for a director, a common practice across publicly traded companies to incentivize and retain board members by aligning their financial interests with long-term shareholder value. It does not provide broader industry trends but highlights standard corporate governance practices in director remuneration.

Comparison to Industry Standards

• The grant of Restricted Stock Units (RSUs) as part of a non-employee director compensation program is a common practice among publicly traded companies, including those in the apparel and healthcare industries, such as Lululemon Athletica Inc. (LULU) or Crocs, Inc. (CROX), which often use equity-based awards to align director incentives with shareholder interests.
• The vesting schedule, tied to continued service and the next annual meeting, is typical for such grants, ensuring ongoing commitment from board members.

Corporate Governance

Related Party Transactions

• The acquisition of 29,412 Restricted Stock Units by Melanie Whelan, a Director of FIGS, Inc., constitutes a related party transaction as it involves compensation from the company to a member of its board of directors.

Stakeholder Impact

• Shareholders: The grant of RSUs to a director aligns their interests with shareholders, as the value of the compensation is tied to the company's stock performance. However, it also represents a minor potential for future dilution upon vesting.
• Employees: No direct impact on employees is indicated by this specific filing.

Next Steps

• The granted Restricted Stock Units (RSUs) are expected to vest in full on the earlier of the one-year anniversary of June 4, 2025, or the date of the Issuer's next annual meeting of stockholders following June 4, 2025, subject to Melanie Whelan's continued service.

Key Dates

Keywords

FIGS Inc., Melanie Whelan, Restricted Stock Units, RSUs, Director Compensation, Equity Grant, SEC Form 4, Beneficial Ownership, Class A Common Stock, Corporate Governance