FIGS, Inc.
For the period ended Dec 31, 2024. Filed Apr 24, 2025.
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Dec 31, 2024 · Filed Apr 24, 2025
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Contents
Summary Compensation Table
The following table contains information about the compensation earned by each of our NEOs during the years ended December 31, 2022, 2023 and 2024. The dollar amounts shown are in U.S. dollars.
| Name and PrincipalPosition · Year · Salary($) · Bonus($)(1) · Stock Awards ($)(2) · Option Awards ($)(2) · Non-Equity Incentive Compensation Plan ($)(3) · All OtherCompensation ($)(4) · Total($) | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Catherine Spear Chief Executive Officer | 2024 | 1,000,000 | 85,700 | 3,606,522 | -- | 257,100 | 20,742 | 4,970,064 | |||
| 2023 | 1,000,000 | 192,600 | 3,449,132 | 3,000,002 | 723,750 | 22,851 | 8,388,335 | ||||
| 2022 | 1,000,000 | -- | -- | -- | -- | 40,737 | 1,040,737 | ||||
| Heather HassonExecutive Chair | 2024 | -- | -- | -- | -- | -- | 42 | 42 | |||
| 2023 | -- | -- | -- | -- | -- | 351 | 351 | ||||
| 2022 | 593,956 | -- | 11,320,485 | 13,603,183 | -- | 43 | 25,517,667 | ||||
| Sarah OughtredChief Financial Officer(5) | 2024 | 209,833 | 10,996 | 4,172,142 | -- | 32,988 | -- | 4,425,959 | |||
| Kevin FostyFormer Interim Chief Financial Officer(6) | 2024 | 304,250 | 46,519 | 256,831 | -- | 19,556 | 18,297 | 645,453 | |||
| Daniella TurenshineFormer Chief Financial Officer(7) | 2024 | 153,846 | -- | -- | -- | -- | 24,574 | 178,420 | |||
| 2023 | 500,000 | 72,225 | 862,285 | 750,002 | 217,125 | 22,851 | 2,424,488 | ||||
| 2022 | 500,000 | -- | -- | -- | -- | 18,138 | 518,138 | ||||
(1)Amounts represent (i) bonuses earned by our NEOs based on individual performance under the Individual Performance Component of our 2024 Bonus Program and (ii) for Mr. Fosty, two bonuses related to his service as Interim CFO. For a description of the 2024 Bonus Program, see “—Compensation Discussion and Analysis—Elements of Compensation—Cash Incentive Compensation” above.
(2)Amounts reflect the full grant-date fair value of RSU awards and stock options granted during the applicable fiscal year computed in accordance with ASC Topic 718, rather than the amounts paid to or realized by the named individual. We provide information regarding the assumptions used to calculate the value of all stock awards made to our NEOs in 2024 in Note 2 to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2024. For Ms. Oughtred, the amount includes the incremental fair value of $992,115 resulting from a modification to the vesting schedule of her new-hire equity grant, which was made to correct a scrivener’s error in the vesting commencement date provided for in the Compensation Committee’s initial approval.
(3)Amounts represent bonuses earned by our NEOs based on the Company’s achievement of pre-established financial metrics under the Financial Performance Components of our 2024 Bonus Program. For a description of the 2024 Bonus Program, see “—Compensation Discussion and Analysis—Elements of Compensation—Cash Incentive Compensation” above.
(4)Amount for 2024 includes (i) for Ms. Spear, 401(k) match in the amount of $20,700 and Company-paid life insurance premiums; (ii) for Ms. Hasson, Company-paid life insurance premiums; (iii) for Mr. Fosty, 401(k) match in the amount of $18,255 and Company-paid life insurance premiums; and (iv) for Ms. Turenshine, 401(k) match in the amount of $23,000, consulting fees for advisory services provided to the Company on an hourly basis following her termination of employment and Company-paid life insurance premiums.
(5)On June 7, 2024, Ms. Oughtred was appointed by our Board as Chief Financial Officer, effective as of August 9, 2024. From July 29, 2024 to August 9, 2024, Ms. Oughtred was employed as an Advisor. As a result, amounts for Ms. Oughtred reflect a partial year of service. Ms. Oughtred’s salary was converted from Canadian dollars to U.S. dollars for this table using the Bank of Canada’s average exchange rate for fiscal year 2024 of CDN$1.00 to USD$0.73. Ms. Oughtred’s payouts under the Individual Performance Component and Financial Performance Components of our 2024 Bonus Program were converted from Canadian dollars to U.S. dollars for this table using the Bank of Canada’s exchange rate on the date of payment of CDN$1.00 to USD$0.70.
(6)Mr. Fosty served as Interim Chief Financial Officer from April 12, 2024 to August 9, 2024, on which date he assumed his previous role of VP, Controller.
(7)Ms. Turenshine resigned from her position as Chief Financial Officer, effective as of April 12, 2024. As a result, amounts for Ms. Turenshine reflect a partial year of service. Following her resignation, Ms. Turenshine served as a consultant to the Company from April 13, 2024 to May 15, 2024.
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