---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-001440"
form_type: "8-K"
ticker: "FIGS"
cik: "0001846576"
company_name: "FIGS, Inc."
filed_at: "2025-01-14T23:59:59+00:00"
generated_at: "2026-05-28T02:16:58.993502+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# FIGS enters binding term sheet with Baron Capital; standstill and voting restrictions imposed

## Summary
- Binding Term Sheet signed Jan 13, 2025 with Baron Capital; parties to execute a stockholders agreement.
- Baron restricted from buying additional equity without consent while holding at least 17.5% of Class A common stock, excluding certain Put-Call Shares.
- During standstill, Baron must vote shares exceeding 25% of outstanding in favor of company-nominated directors.
- Put-Call Shares from Jan 7 agreement with Thomas J. Tull are carved out from purchase and transfer restrictions.
- SHA to grant Baron customary demand, piggyback, and shelf registration rights.

## SEC filing metadata
- accession: 0001628280-25-001440
- form_type: 8-K
- ticker: FIGS
- cik: 0001846576
- company_name: FIGS, Inc.
- filed_at: 2025-01-14T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1846576/000162828025001440/0001628280-25-001440-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1846576/000162828025001440/figs-20250113.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-001440
- JSON: https://secwatch.observer/filing/0001628280-25-001440.json
- Plain text: https://secwatch.observer/filing/0001628280-25-001440.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.