In a small bowl, combine the softened unsalted butter, fresh thyme leaves, and minced garlic. Mix well until all ingredients are incorporated.

Shape the mixture into a log using parchment paper and refrigerate until firm, about 30 minutes.

Preheat your grill or a heavy skillet over medium-high heat. If using a skillet, add the olive oil and let it heat until shimmering.

Generously season both sides of the ribeye steaks with salt and freshly cracked black pepper.

Place the steaks on the grill or in the skillet. Cook for about 4-5 minutes on each side for medium-rare, or until the internal temperature reaches your desired doneness.

In a small saucepan, combine the balsamic vinegar and fig preserves. Bring the mixture to a simmer over medium heat, stirring occasionally, until it thickens slightly, about 5-7 minutes.

Once the steaks are cooked, remove them from the heat and brush the balsamic-fig glaze over both sides of the steaks. Let them rest for a few minutes.

Slice the compound butter into rounds and place a slice on top of each ribeye steak. Drizzle any remaining balsamic glaze over the steaks and garnish with fresh thyme and optional fresh figs.