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

FIGS, Inc. Director Sheila Antrum was granted 29,412 restricted stock units as part of her annual equity compensation, vesting over the next year.

Summary

• Sheila Antrum, 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.
• This grant is part of the Issuer's Non-Employee Director Compensation Program and was automatically issued on the date of the company's 2025 annual meeting of stockholders.
• The RSUs vest in full on the earlier of (i) the one-year anniversary of June 4, 2025, or (ii) the date of FIGS, Inc.'s next annual meeting of stockholders following June 4, 2025, contingent upon Ms. Antrum's continued service.
• Following this transaction, Sheila Antrum beneficially owns a total of 100,207 securities, of which 29,412 are these newly granted RSUs.

Sentiment

Score: 5

Explanation: The document reports a routine compensation event (equity grant to a director) which is neutral in sentiment, reflecting standard corporate governance practices rather than a positive or negative operational or financial outcome.

Positives

• The grant of Restricted Stock Units aligns the director's interests with those of shareholders, promoting long-term commitment and performance.
• The automatic nature of the grant indicates a standardized and transparent non-employee director compensation program.

Negatives

• No specific negative aspects are identified in this routine compensation filing.

Future Outlook

The Restricted Stock Units granted to Director Sheila Antrum are set to vest in full on the earlier of the one-year anniversary of the grant date (June 4, 2025) or the date of the Issuer's next annual meeting of stockholders following June 4, 2025, subject to her continued service.

Industry Context

This Form 4 filing reflects a standard practice in corporate governance where non-employee directors receive equity compensation, such as Restricted Stock Units, to align their long-term interests with those of the company's shareholders. This is a common component of director compensation packages across various industries.

Comparison to Industry Standards

• The grant of Restricted Stock Units (RSUs) as part of non-employee director compensation is a common practice across publicly traded companies, including those in the apparel and healthcare apparel sectors like FIGS, Inc. This method is widely used to incentivize long-term commitment and align director interests with shareholder value.
• Companies such as Lululemon Athletica Inc. (LULU) and Under Armour, Inc. (UAA) also utilize equity-based compensation for their non-employee directors, often including RSUs or stock options, reflecting a broad industry standard for attracting and retaining qualified board members.

Related Party Transactions

• The transaction involves an equity grant from FIGS, Inc. to Sheila Antrum, a Director of the company, which constitutes a related party transaction as part of her compensation.

Stakeholder Impact

• Shareholders: The grant of RSUs to a director aligns their interests with shareholders by incentivizing long-term performance and value creation.
• Employees: This specific filing does not directly impact general employees, as it pertains to director compensation.

Next Steps

• The Restricted Stock Units granted to Sheila Antrum are expected to vest on the earlier of June 4, 2026, or the date of FIGS, Inc.'s next annual meeting of stockholders following June 4, 2025, provided her continued service.

Key Dates

Keywords

FIGS Inc., FIGS, Restricted Stock Units, RSU, Equity Grant, Director Compensation, SEC Form 4, Insider Transaction, Class A Common Stock