# EDGAR Filing Document

**Accession Number:** 0001846576
**File Stem:** 0001628280-23-005681
**Filing Date:** 2023-3
**Character Count:** 19624
**Document Hash:** 8a0dd05d5159e84ec1f588a0399d2474
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-23-005681.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0001628280-23-005681

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 6

**REFERENCES 429**: 333-256585

**FILED AS OF DATE**: 20230301

**DATE AS OF CHANGE**: 20230228

**EFFECTIVENESS DATE**: 20230301

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIGS, Inc.
- **CENTRAL INDEX KEY:** 0001846576
- **STANDARD INDUSTRIAL CLASSIFICATION:** APPAREL & OTHER FINISHED PRODS OF FABRICS & SIMILAR MATERIAL [2300]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-270150
- **FILM NUMBER:** 23688902

**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

**As filed with the Securities and Exchange Commission on February 28, 2023** 

**Registration No. 333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;** 

_______________________________________________________________________________________________________________________________________

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549**

_______________________________________________________________________________________________________________________________________

**FORM S-8** 

**REGISTRATION STATEMENT** 

**Under** 

**The Securities Act of 1933**

_______________________________________________________________________________________________________________________________________

**FIGS, INC.** 

**(Exact name of registrant as specified in its charter)** 

_______________________________________________________________________________________________________________________________________

---

| | |
|:---|:---|
| **Delaware** | **46-2005653** |
| **(State or other jurisdiction of**<br>**incorporation or organization)** | **(I.R.S. Employer**<br>**Identification No.)** |

---

**2834 Colorado Avenue, Suite 100** 

**Santa Monica, California 90404** 

**(Address, including zip code, of Registrant's principal executive offices)** 

**FIGS, INC. 2021 EQUITY INCENTIVE AWARD PLAN** 

**FIGS, INC. 2021 EMPLOYEE STOCK PURCHASE PLAN** 

**(Full title of the plans)** 

**Catherine Spear** 

**Chief Executive Officer** 

**FIGS, Inc.** 

**2834 Colorado Avenue, Suite 100** 

**Santa Monica, California 90404** 

**(424) 500-8209** 

**(Name, address, including zip code, and telephone number, including area code, of agent for service)** 

***Copies to:***

**Marc D. Jaffe, Esq.** 

**Ian D. Schuman, Esq.** 

**Alison A. Haggerty, Esq.** 

**Latham & Watkins LLP** 

**1271 Avenue of the Americas** 

**New York, NY 10020** 

**(212) 906-1200** 

_______________________________________________________________________________________________________________________________________

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☒ | Accelerated filer | ☐ |
| Non-accelerated filer | ☐ | Smaller reporting company | ☐ |
| | | 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 7(a)(2)(B) of the Securities Act. ☐

____________________________________________________________________________________________________________

------

**EXPLANATORY NOTE**

This Registration Statement on Form S-8 is being filed with the Securities and Exchange Commission (the "<u>Commission</u>") for the purpose of registering an additional 6,508,929 shares of Class A common stock, par value $0.0001 per share (the "<u>Class A Common Stock</u>"), of FIGS, Inc. (the "<u>Registrant</u>"), issuable under the following employee benefit plans for which a registration statement of the Registrant on Form S-8 (File No. 333-256585) is effective: (i) the FIGS, Inc. 2021 Equity Incentive Award Plan (the "<u>2021 Plan</u>") and (ii) the FIGS, Inc. 2021 Employee Stock Purchase Plan (the "<u>2021 ESPP</u>").

Pursuant to General Instruction E of Form S-8, the contents of the above-referenced prior registration statement are incorporated into this Registration Statement by reference to the extent not modified or superseded hereby or by any subsequently filed document, which is incorporated by reference herein or therein.

_______________________________________________________________________________________________________________________________________

------

**Item 8. Exhibits.** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | Incorporated by Reference | Incorporated by Reference | Incorporated by Reference | Filed Herewith |
| Exhibit<br>Number | Exhibit Description | Form | Date | Exhibit | Filed Herewith |
| &nbsp;&nbsp;&nbsp;&nbsp;4.1 | <u>[Amended and Restated Certificate of Incorporation of FIGS, Inc.](https://www.sec.gov/Archives/edgar/data/1846576/000162828023005575/figs-20221231xexx31.htm)</u> | 10-K | 02/28/2023 | 3.1 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.2 | <u>[Amended and Restated Bylaws of FIGS, Inc.](https://www.sec.gov/Archives/edgar/data/1846576/000162828023005575/figs-20221231xexx32.htm)</u> | 10-K | 02/28/2023 | 3.2 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.3 | <u>[Form of Certificate of Class A Common Stock](http://www.sec.gov/Archives/edgar/data/1846576/000119312521151936/d29047dex41.htm)</u> | S-1 | 05/05/2021 | 4.1 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.1 | <u>[Opinion of Latham & Watkins LLP](ex51lwopinionandconsent.htm)</u> |  |  |  | \* |
| 23.1 | <u>[Consent of Ernst & Young, LLP](ex231consentofernstyoungllp.htm)</u> |  |  |  | \* |
| 23.2 | <u>[Consent of Latham & Watkins LLP (included in Exhibit 5.1)](ex51lwopinionandconsent.htm)</u> |  |  |  | \* |
| 24.1 | <u>[Power of Attorney (included on signature page)](#i75db3dfca1464adc9bf934b0392d2443_127)</u> |  |  |  |  |
| 99.1 | <u>[FIGS, Inc. 2021 Equity Incentive Award Plan](https://www.sec.gov/Archives/edgar/data/1846576/000162828023005575/figs-20221231xexx103.htm)</u> | 10-K | 02/28/2023 | 10.3 |  |
| 99.1.1 | <u>[Form of Stock Option Grant Notice and Agreement under 2021 Equity Incentive](http://www.sec.gov/Archives/edgar/data/1846576/000119312521167195/d29047dex106.htm)[Award](http://www.sec.gov/Archives/edgar/data/1846576/000119312521167195/d29047dex106.htm)[Plan](http://www.sec.gov/Archives/edgar/data/1846576/000119312521167195/d29047dex106.htm)</u> | S-1/A | 05/20/2021 | 10.6 |  |
| 99.1.2 | <u>[Form of Restricted Stock Unit Grant Notice and Agreement under 2021 Equity Incentive](http://www.sec.gov/Archives/edgar/data/1846576/000119312521167195/d29047dex107.htm)[Award](http://www.sec.gov/Archives/edgar/data/1846576/000119312521167195/d29047dex107.htm)[Plan](http://www.sec.gov/Archives/edgar/data/1846576/000119312521167195/d29047dex107.htm)</u> | S-1/A | 05/20/2021 | 10.7 |  |
| 99.2 | <u>[FIGS, Inc. 2021 Employee Stock Purchase Plan](https://www.sec.gov/Archives/edgar/data/1846576/000162828023005575/figs-20221231xexx106.htm)</u> | 10-K | 02/28/2023 | 10.6 |  |
| 107.1 | <u>[Filing Fee Table](ex1071filingfeetable.htm)</u> |  |  |  | \* |

---

------

**SIGNATURES** 

Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Santa Monica, State of California, on this 28th day of February, 2023.

---

| | |
|:---|:---|
| **FIGS, INC.** | **FIGS, INC.** |
| By | /s/ Catherine Spear |
| | Catherine Spear |
| | *Chief Executive Officer* |

---

**SIGNATURES AND POWER OF ATTORNEY** 

We, the undersigned officers and directors of FIGS, Inc., hereby severally constitute and appoint Catherine Spear and Daniella Turenshine, and each of them singly (with full power to each of them to act alone), our true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution in each of them for him or her and in his or her name, place and stead, and in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement and all documents relating thereto, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite or necessary to be done in and about the premises, as full to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them, or their or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities held on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Catherine Spear | Chief Executive Officer and Director | February 28, 2023 |
| Catherine Spear | *(Principal Executive Officer)* |  |
| /s/ Daniella Turenshine | Chief Financial Officer | February 28, 2023 |
| Daniella Turenshine | *(Principal Financial and Accounting Officer)* |  |
| /s/ Heather Hasson | Director | February 28, 2023 |
| Heather Hasson |  |  |
| /s/ Sheila Antrum | Director | February 28, 2023 |
| Sheila Antrum |  |  |
| /s/ A.G. Lafley | Director | February 28, 2023 |
| A.G. Lafley |  |  |
| /s/ Kenneth Lin | Director | February 28, 2023 |
| Kenneth Lin |  |  |
| /s/ Michael Soenen | Director | February 28, 2023 |
| Michael Soenen |  |  |
| /s/ Jeffrey Wilke | Director | February 28, 2023 |
| Jeffrey Wilke |  |  |
| /s/ J. Martin Willhite | Director | February 28, 2023 |
| J. Martin Willhite |  |  |

---

## Ex-Filing

**Exhibit 107.1**

**Calculation of Filing Fee Table**

**Form S-8**

(Form Type)

**FIGS, Inc.** 

(Exact Name of Registrant as Specified in its Charter)

**Table 1—Newly Registered Securities**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Plan** | **Security Type** | **Security Class Title** | **Fee Calculation Rule** | **Amount Registered**(1) | **Proposed Maximum Offering Price Per Unit** | **Maximum Aggregate Offering Price** | **Fee Rate** | **Amount of Registration Fee** |
| 2021 Equity Incentive Award Plan | Equity | Class A common stock, par value $0.0001 per share | Rule 457(c) <br>and 457(h) | 4866365<sup>(2)</sup> | $8.68<sup>(4)</sup> | $42240048.20 | $110.20 per million dollars | $4654.85 |
| 2021 Employee Stock Purchase Plan | Equity | Class A common stock, par value $0.0001 per share | Rule 457(c) <br>and 457(h) | 1642564<sup>(3)</sup> | $8.68<sup>(4)</sup> | $14257455.52 | $110.20 per million dollars | $1571.17 |
|  | **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** |  | $56,497.503.72 |  | $6226.02 |
|  | **Total Fee Offsets**<sup>(5)</sup> | **Total Fee Offsets**<sup>(5)</sup> | **Total Fee Offsets**<sup>(5)</sup> | **Total Fee Offsets**<sup>(5)</sup> |  |  |  | $— |
|  | **Net Fee Due** | **Net Fee Due** | **Net Fee Due** | **Net Fee Due** |  |  |  | $6226.02 |

---

 (1) Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "<u>Securities Act</u>"), the shares of Class A Common Stock, par value $0.0001 per share (the "<u>Common Stock</u>"), of FIGS, Inc. (the "<u>Registrant</u>") being registered hereunder include such indeterminate number of shares of the Common Stock as may issuable with respect to the shares of the Common Stock being registered hereunder as a result of stock dividends, stock splits, recapitalization, or other similar transactions.

(2) Represents (i) an aggregate of 1,241,480 shares of the Registrant's Common Stock that were automatically added to the shares authorized for issuance under the Registrant's 2021 Equity Incentive Award Plan (the "<u>2021 Plan</u>") on January 1, 2022 and January 1, 2023 pursuant to an "evergreen" provision contained in the 2021 Plan, (ii) 3,329,478 shares of Common Stock that would have been issuable upon the vesting or exercise of awards originally made under the Registrant's Amended 2016 Equity Award Plan (the "<u>2016 Plan</u>"), but that expired, lapsed or were terminated, exchanged for or settled in cash, surrendered, repurchased, cancelled or forfeited, or were delivered to the Registrant to satisfy the applicable exercise or purchase price of an award and/or any applicable tax withholding obligation with respect to the award, and as such again became available for issuance under the 2021 Plan pursuant to its terms, and (iii) 295,407 shares of Common Stock that would have been issuable upon the vesting of restricted stock unit awards granted under the 2021 Plan, but that were canceled or forfeited prior to vesting, or withheld by the Registrant to satisfy any applicable tax withholding, and as such again became available for issuance under the 2021 Plan pursuant to its terms.

(3) Represents the aggregate shares of Common Stock that were automatically added to the shares authorized for issuance under the Registrant's 2021 Employee Stock Purchase Plan (the "<u>2021 ESPP</u>") on January 1, 2022 pursuant to an "evergreen" provision contained in the 2021 ESPP.

------

(4) Estimated in accordance with Rule 457(c) and 457(h) of the Securities Act solely for the purpose of calculating the registration fee, based upon the average of the high and low prices of the Company's Common Stock as reported on the New York Stock Exchange on February 24, 2023, which date is within five business days prior to filing this Registration Statement.

(5) The Registrant does not have any fee offsets.

## Exhibit 5.1

![](ex51lwopinionandconsent001.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1271 Avenue of the Americas New York, New York 10020-1401 Tel: +1.212.906.1200 Fax: +1.212.751.4864 www.lw.com FIRM / AFFILIATE OFFICES Austin Milan Beijing Munich Boston New York Brussels Orange County Century City Paris Chicago Riyadh Dubai San Diego Düsseldorf San Francisco Frankfurt Seoul Hamburg Shanghai Hong Kong Silicon Valley Houston Singapore London Tel Aviv Los Angeles Tokyo Madrid Washington, D.C. February 28, 2023 FIGS, Inc. 2834 Colorado Avenue, Suite 100 Santa Monica, California 90404 Re: Registration Statement on Form S-8 with respect to shares of Class A common stock of FIGS, Inc. To the addressee set forth above: We have acted as special counsel to FIGS, Inc., a Delaware corporation (the "Company"), in connection with the preparation and filing by the Company on the date hereof with the Securities and Exchange Commission (the "Commission") of a Registration Statement (the "Registration Statement") on Form S-8 under the Securities Act of 1933, as amended (the "Act"), relating to the issuance of up to an aggregate of 6,508,929 shares of Class A common stock of the Company, par value $0.0001 per share (the "Shares"), 4,886,365 of which may be issued pursuant to the Company's 2021 Equity Incentive Award Plan (the "2021 Plan") and 1,642,564 of which may be issued pursuant to the Company's 2021 Employee Stock Purchase Plan (the "2021 ESPP" and, together with the 2021 Plan, the "Plans"). This opinion is being furnished in connection with the requirements of Item 601(b)(5) of Regulation S-K under the Act, and no opinion is expressed herein as to any matter pertaining to the contents of the Registration Statement or prospectuses forming a part thereof, other than as expressly stated herein with respect to the issuance of the Shares. As such counsel, we have examined such matters of fact and questions of law as we have considered appropriate for purposes of this letter. With your consent, we have relied upon the foregoing and upon certificates and other assurances of officers of the Company and others as to factual matters without having independently verified such factual matters. We are opining herein only as to the General Corporation Law of the State of Delaware, as amended (the "DGCL"), and we express no opinion with respect to any other laws. Subject to the foregoing and the other matters set forth herein, it is our opinion that as of the date hereof, when the Shares shall have been duly registered on the books of the transfer agent and registrar therefor in the name or on behalf of the recipients thereof, and have been issued by the Company for legal consideration in excess of par value in the circumstances contemplated by the Plans, assuming in each case that the individual issuances, grants or awards

------

![](ex51lwopinionandconsent002.jpg)

February 28, 2023 Page 2 under the Plans are duly authorized by all necessary corporate action and duly issued, granted or awarded and exercised in accordance with the requirements of law and the Plans (and the agreements duly adopted thereunder and in accordance therewith), the issue and sale of the Shares will have been duly authorized by all necessary corporate action of the Company, and such Shares will be validly issued, fully paid and non-assessable. In rendering the foregoing opinion, we have assumed that the Company will comply with all applicable notice requirements regarding uncertificated shares provided in the DGCL. This opinion is for your benefit in connection with the Registration Statement and may be relied upon by you and by persons entitled to rely upon it pursuant to the applicable provisions of the Act. We consent to your filing this opinion as an exhibit to the Registration Statement. In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission thereunder. Sincerely, /s/ Latham and Watkins LLP

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## Exhibit 23.1

**Consent of Independent Registered Public Accounting Firm**

We consent to the incorporation by reference in the Registration Statement (Form S-8) pertaining to the 2021 Equity Incentive Award Plan and 2021 Employee Stock Purchase Plan of FIGS, Inc. of our reports dated February 28, 2023, with respect to the financial statements of FIGS Inc., and the effectiveness of internal control over financial reporting of FIGS, Inc. included in its Annual Report (Form 10-K) for the year ended December 31, 2022, filed with the Securities and Exchange Commission.

/s/ Ernst & Young LLP

Los Angeles, California

February 28, 2023

<br>