Form 4: Figma General Counsel Sells Shares for Tax Obligations

Figma's General Counsel and Secretary, Brendan Mulligan, sold 9,343 shares of Class A Common Stock on December 1, 2025, to cover tax withholding obligations.

Summary

• Brendan Mulligan, General Counsel and Secretary of Figma, Inc. (FIG), reported a transaction on December 1, 2025.
• He sold 9,343 shares of Class A Common Stock.
• The shares were sold at a weighted average price of $35.4481 per share.
• The sale was a 'sell to cover' transaction, specifically to satisfy tax withholding obligations in connection with the vesting and settlement of restricted stock units, and does not represent a discretionary transaction.
• Following the transaction, Mulligan beneficially owns 890,296 shares of Class A Common Stock directly.

Sentiment

Score: 5

Explanation: Neutral. The transaction is a routine 'sell to cover' for tax obligations, not a discretionary sale, and therefore has no significant positive or negative implications for the company or its stock price.

Future Outlook

NA

Management Comments

• The sales reported in this line item represent shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units.
• The sales were to satisfy tax withholding obligations to be funded by a 'sell to cover' transaction and do not represent discretionary transactions by the Reporting Person.
• The Reporting Person undertakes to provide to the Issuer, any securityholder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein to the block trades.

Industry Context

NA

Stakeholder Impact

• Shareholders: The sale represents a minor dilution of outstanding shares, but its non-discretionary nature limits negative perception regarding management's confidence.

Key Dates

Recommendation

The reported transaction is a non-discretionary 'sell to cover' to satisfy tax obligations related to restricted stock unit vesting. This is a common occurrence for executives and does not reflect a change in management's confidence in the company's future prospects. Therefore, it does not warrant a change in investment recommendation based solely on this filing.

Keywords

Figma, FIG, Brendan Mulligan, Form 4, Insider Trading, Stock Sale, Tax Withholding, Restricted Stock Units, Corporate Governance