Form 4: FIGS Inc. Director Mario Marte Reports Acquisition of Restricted Stock Units

Director Mario Marte acquired 28,143 restricted stock units (RSUs) of FIGS Inc. on June 5, 2024, as part of the company's Non-Employee Director Compensation Program.

Summary

• On June 5, 2024, Mario Marte, a director of FIGS, Inc., acquired 28,143 restricted stock units (RSUs).
• These RSUs were granted automatically as part of the Issuer's Non-Employee Director Compensation Program following the company's 2024 annual meeting of stockholders.
• The RSUs will vest on the earlier of June 5, 2025, or the date of the next annual meeting of stockholders, contingent upon Mr. Marte's continued service.
• Following the transaction, Mr. Marte beneficially owns 41,178 shares of Class A Common Stock, including the RSUs.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard director compensation practices, aligning interests with shareholders.

Positives

• The acquisition of RSUs aligns the director's interests with those of the shareholders.
• The vesting schedule incentivizes continued service and commitment to the company.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting schedule of the RSUs.

Industry Context

This filing is a routine disclosure related to director compensation, which is a common practice in publicly traded companies to align the interests of directors with those of shareholders.

Comparison to Industry Standards

• Director compensation packages, including RSUs, are standard practice among publicly traded companies like FIGS, Inc.
• Companies such as Lululemon, Nike, and Under Armour also utilize equity-based compensation to incentivize their directors and key employees.
• The vesting schedules and terms of these grants are generally comparable across the industry, with variations based on company size, performance, and specific compensation strategies.

Stakeholder Impact

• Shareholders may view the equity grant as a positive sign, aligning the director's interests with the company's long-term success.
• The director is incentivized to contribute to the company's growth and profitability to maximize the value of the RSUs.

Next Steps

• The RSUs will vest based on the specified vesting schedule, contingent upon the director's continued service.

Key Dates