Form 4: Figma CEO Dylan Field Sells Shares Under 10b5-1 Plan

Figma President and CEO Dylan Field executed pre-planned sales of 312,500 Class A Common Stock on January 14, 2026, following conversions of Class B shares.

Summary

• Dylan Field, President & CEO, Director, and 10% Owner of Figma, Inc. (FIG), reported transactions on January 14, 2026.
• The transactions involved the acquisition of 312,500 Class A Common Stock (250,000 directly and 62,500 indirectly via LLL Investments LLC) at $0, likely through conversion of Class B shares.
• Concurrently, Field disposed of a total of 312,500 Class A Common Stock (250,000 directly and 62,500 indirectly via LLL Investments LLC) through multiple sales.
• The sales were executed under a Rule 10b5-1 trading plan adopted on August 4, 2025, indicating pre-scheduled transactions.
• Weighted average sale prices for the direct sales ranged from $32.4607 to $34.1133 per share, and for indirect sales from $32.4608 to $34.1133 per share.
• Following these specific transactions, Field's direct and indirect beneficial ownership of Class A Common Stock from these reported lines is 0.
• Field continues to beneficially own a significant number of Class B Common Stock, convertible to Class A, both directly (35,209,828 shares) and indirectly through LLL Investments LLC (14,817,017 shares), Dylan Field 2024 Annuity Trust (1,135,325 shares), and Field 2021 Descendants Trust (1,122,908 shares).

Sentiment

Score: 5

Explanation: The filing reports routine insider transactions (conversion and sale) executed under a pre-planned 10b5-1 program. While insider selling can sometimes be viewed negatively, the pre-planned nature mitigates concerns, making the sentiment neutral.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, which suggests a planned diversification or liquidity event rather than a reaction to new negative information.

Negatives

• Insider selling, even if pre-planned, can sometimes be perceived negatively by investors as it reduces the executive's direct equity stake in the company.

Future Outlook

The filing does not contain any forward-looking statements or guidance.

Industry Context

This Form 4 filing reports routine insider transactions by a key executive. Such transactions are common in the tech industry, particularly for founders and long-term executives seeking to diversify their personal holdings or manage liquidity, especially when executed under a pre-arranged 10b5-1 plan. It does not provide broader industry trends or competitive insights.

Related Party Transactions

• Indirect beneficial ownership of Class A Common Stock and Class B Common Stock is reported through LLL Investments LLC, Dylan Field 2024 Annuity Trust, and Field 2021 Descendants Trust, all associated with the Reporting Person.

Stakeholder Impact

• Shareholders: The sale of shares by a key executive, even if pre-planned, could lead to minor short-term market speculation, but the overall impact is likely minimal given the pre-scheduled nature and the executive's continued significant beneficial ownership.
• Employees: No direct impact on employees is indicated by this filing.
• Customers/Suppliers/Creditors: No direct impact on these stakeholders is indicated by this filing.

Key Dates

Recommendation

The Form 4 filing details pre-planned insider sales by CEO Dylan Field under a Rule 10b5-1 plan. These transactions are routine for executives managing their personal wealth and do not typically signal a change in the company's fundamental outlook or performance. While a large volume of shares were sold, they were also acquired (likely converted from Class B), indicating a planned liquidity event rather than a bearish signal. Given the pre-scheduled nature and the executive's continued substantial beneficial ownership, this filing alone does not warrant a change in investment recommendation. A 'hold' recommendation is appropriate as the filing provides no new information to alter the investment thesis.

Keywords

Figma, FIG, Dylan Field, Insider Trading, Form 4, SEC Filing, Stock Sale, 10b5-1 Plan, Class A Common Stock, Class B Common Stock, Beneficial Ownership