Form 4: Figma Director Hamid Reports Significant Share Distributions

Mamoon Hamid, a Director and 10% owner of Figma, Inc., reported several pro rata distributions of Class A Common Stock from various Kleiner Perkins entities for no consideration.

Summary

• Mamoon Amjad Hamid, a Director and 10% owner of Figma, Inc. (FIG), reported changes in beneficial ownership of Class A Common Stock.
• On February 25, 2026, Kleiner Perkins Caufield & Byers XVII, LLC (KPCB XVII) distributed 4,763,981 shares of Figma's Class A Common Stock to its limited partners for no consideration.
• Following this distribution, KPCB XVII's indirect beneficial ownership stands at 42,875,831 shares.
• KPCB XVII Associates, LLC received 1,190,996 shares of Class A Common Stock as a pro rata distribution from KPCB XVII, bringing its indirect ownership to 1,190,996 shares.
• KPCB XVII Associates, LLC subsequently distributed 1,188,289 shares of Class A Common Stock for no consideration, reducing its indirect beneficial ownership to 2,707 shares.
• Mamoon Hamid directly acquired 295,454 shares of Class A Common Stock as a pro rata distribution from KPCB XVII Associates.
• KPCB XVII Founders Fund, LLC distributed 155,962 shares of Class A Common Stock for no consideration, resulting in 1,403,660 shares remaining under its indirect beneficial ownership.
• Mamoon Hamid directly acquired an additional 9,525 shares of Class A Common Stock as a pro rata distribution from KPCB XVII Founders, bringing his total direct beneficial ownership to 304,979 shares.
• Indirect beneficial ownership also includes 78,416 shares by Kleiner Perkins Select Founders Fund, LLC and 3,086,524 shares by Kleiner Perkins Select Fund, LLC.
• All distributions were made for no consideration and in accordance with exemptions afforded by Rules 16a-13 and/or 16a-9 of the Securities Exchange Act of 1934.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event for Figma's operational performance, reflecting a change in the beneficial ownership structure of a significant institutional shareholder rather than a direct operational or financial update.

Positives

• Mamoon Hamid, the reporting person, directly acquired 295,454 shares and 9,525 shares of Class A Common Stock through pro rata distributions, increasing his direct stake in Figma.

Negatives

• Significant distributions by major institutional shareholders like Kleiner Perkins entities could signal a reduction in their overall exposure to Figma, potentially leading to future selling pressure in the market.

Industry Context

StockSavvy.ai notes that pro rata distributions by venture capital firms to their limited partners are a common practice as funds mature and seek to return capital or rebalance portfolios. These distributions often precede potential market sales by the individual recipients.

Comparison to Industry Standards

• Distributions of portfolio company shares by venture capital funds to their limited partners are a standard operational procedure within the private equity and venture capital industry as investments reach maturity or exit opportunities arise. This aligns with typical fund lifecycle management.

Related Party Transactions

• The distributions involve various Kleiner Perkins entities (KPCB XVII, KPCB XVII Associates, KPCB XVII Founders Fund, Kleiner Perkins Select Founders Fund, Kleiner Perkins Select Fund) and Mamoon Hamid, who is a managing member of some of these entities and a Director of Figma. These transactions are inherent to the structure of venture capital fund distributions to their principals and limited partners.

Stakeholder Impact

• Shareholders may experience increased trading volume or potential selling pressure if the recipients of these distributed shares decide to sell them in the open market.
• The reporting person, Mamoon Hamid, has increased his direct beneficial ownership, aligning his interests more closely with other shareholders.

Key Dates

Recommendation

The filing primarily details a change in beneficial ownership structure through pro rata distributions by a major institutional shareholder and a director. While it doesn't reflect on the company's operational performance, the significant volume of shares distributed by a 10% owner and director could indicate potential future selling pressure, warranting a cautious 'hold' rather than a 'buy' or 'sell' based solely on this information.

Keywords

Figma, FIG, Mamoon Hamid, Kleiner Perkins, SEC Form 4, beneficial ownership, stock distribution, insider transaction, director, 10% owner