Form 4: Figma CTO Sells Shares for Tax and Pre-Planned Reasons

Figma CTO Kris Rasmussen reported sales of Class A Common Stock totaling 195,597 shares in early January 2026, primarily for tax obligations and under a pre-arranged 10b5-1 trading plan.

Summary

• Kris Rasmussen, Chief Technology Officer of Figma, Inc. (FIG), reported multiple sales of Class A Common Stock.
• A total of 195,597 shares were disposed of across several transactions on January 2, 2026, and January 5, 2026.
• Sales on January 2, 2026, totaling 14,252 shares (7,235 and 7,017 shares), were executed to cover tax withholding obligations related to the vesting and settlement of restricted stock units, and are considered non-discretionary.
• Additional sales on January 5, 2026, totaling 181,345 shares (119,406, 53,277, and 8,662 shares), were conducted pursuant to a Rule 10b5-1 trading plan adopted by Mr. Rasmussen on August 6, 2025.
• The weighted average sale prices ranged from $36.8967 to $38.3831 per share.
• Following these transactions, Mr. Rasmussen beneficially owns 10,698,648 shares of Class A Common Stock directly.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While insider selling can sometimes be a negative signal, the sales are largely non-discretionary (tax withholding) or pre-planned under a 10b5-1 plan, which mitigates concerns about discretionary selling. The remaining beneficial ownership is substantial.

Negatives

• Insider selling, even when pre-planned or for tax purposes, can sometimes be perceived negatively by the market as it reduces insider ownership, though the reasons here mitigate significant concern.

Risks

• While not explicitly stated as a risk in the filing, a pattern of significant insider selling, even for pre-planned reasons, could be interpreted by some investors as a potential signal regarding future company performance or valuation.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding Figma, Inc.'s future financial performance or strategic direction.

Management Comments

• Sales reported to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units do not represent discretionary transactions by the Reporting Person.
• Other sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 6, 2025.

Industry Context

This insider transaction report is a routine disclosure required by the SEC and does not inherently provide direct insights into broader industry trends or competitive landscape. It reflects individual executive compensation and personal financial planning within the tech sector.

Stakeholder Impact

• Shareholders: The reduction in Kris Rasmussen's direct ownership is noted, but the reasons for the sales (tax obligations, pre-planned 10b5-1) suggest these are routine and not indicative of a change in confidence. His remaining holding of over 10 million shares maintains significant alignment with shareholder interests.

Next Steps

• The Reporting Person undertakes to provide full information regarding the number of shares sold at each separate price within the reported ranges upon request to the Issuer, any securityholder, or the SEC staff.

Key Dates

Recommendation

The reported sales by Figma's CTO, Kris Rasmussen, are primarily for tax withholding obligations related to vested restricted stock units and pre-scheduled under a Rule 10b5-1 trading plan. These are generally non-discretionary or pre-planned transactions and do not necessarily indicate a change in management's outlook on the company's future. The remaining beneficial ownership is substantial, suggesting continued alignment with shareholder interests. Therefore, a 'hold' recommendation is appropriate as this filing does not present new fundamental information to alter an investment thesis.

Keywords

Figma, FIG, Kris Rasmussen, CTO, Insider Trading, Form 4, Stock Sale, 10b5-1 Plan, Equity Compensation, Tax Withholding