Form 4: FIGR Director-Affiliated Funds Liquidate Stock Holdings

A director of Figure Technology Solutions, Inc. reported the sale of over 216,000 Class A Common Stock shares through affiliated venture capital funds.

Summary

• Sachin Chand Jaitly, a Director of Figure Technology Solutions, Inc. (FIGR), reported the sale of 216,713 shares of Class A Common Stock.
• The sales were executed on March 10, 2026, through two affiliated entities: Tessera Venture Capital Fund, LP and Tessera Venture Capital Fund II, LP (collectively, the "Tessera Funds").
• Tessera Venture Capital Fund, LP sold a total of 185,742 shares in two tranches: 156,947 shares at a weighted average price of $33.5012 (ranging from $33.00 to $33.98) and 28,795 shares at a weighted average price of $34.3848 (ranging from $34.00 to $34.76).
• Tessera Venture Capital Fund II, LP sold a total of 30,971 shares in two tranches: 26,170 shares at a weighted average price of $33.5012 (ranging from $33.00 to $33.98) and 4,801 shares at a weighted average price of $34.3848 (ranging from $34.00 to $34.76).
• Following these transactions, both Tessera Venture Capital Fund, LP and Tessera Venture Capital Fund II, LP hold zero shares of Figure Technology Solutions, Inc. Class A Common Stock.
• Mr. Jaitly, as a Managing Partner of the general partners for both Tessera Funds, disclaims beneficial ownership of these securities except to the extent of his pecuniary interest, citing an ethical wall that prevents his participation in investment or voting decisions related to the Issuer's shares held by the Tessera Funds.

Sentiment

Score: 3

Explanation: StockSavvy.ai views this as a moderately negative development due to the complete liquidation of holdings by director-affiliated funds, which typically signals a lack of confidence. However, the explicit ethical wall disclaimer somewhat mitigates the direct implication of the director's personal sentiment.

Negatives

• The filing indicates a complete liquidation of Figure Technology Solutions, Inc. Class A Common Stock holdings by venture capital funds associated with a company director.
• Significant insider selling, even if indirect and with disclaimers, can be perceived negatively by the market as it might suggest a lack of future growth potential or a strategic exit.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Management Comments

• "The reporting person undertakes to provide the Issuer, any security holder 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 in this footnote."
• "The reporting person is a Managing Partner of each of Tessera Venture Capital Fund GP, LLC and Tessera Venture Capital Fund II GP, LLC, and may be deemed to beneficially own the securities reported herein, but disclaims beneficial ownership except to the extent of his pecuniary interest, if any, therein."
• "Due to an ethical wall between the reporting person and each of Tessera Venture Capital Fund, LP and Tessera Venture Capital Fund II, LP (the 'Tessera Funds') that prevents (i) the sharing of information related to the Issuer between the reporting person and the Tessera Funds and their respective representatives, and (ii) participation in investment or voting decisions with respect to the shares of Class A common stock of the Issuer held by the Tessera Funds. As a result thereof, the reporting person disclaims any beneficial or pecuniary interest in any of the shares sold by the Tessara Funds. Following the reported transaction, the Tessera Funds held zero shares of the Issuer's Class A common stock."

Industry Context

StockSavvy.ai notes that insider selling, particularly a complete liquidation by affiliated funds, can sometimes signal a lack of confidence in future prospects or a strategic portfolio rebalancing. However, the explicit disclaimer regarding an ethical wall and non-participation in investment decisions by the director complicates a direct interpretation of the director's personal sentiment towards Figure Technology Solutions, Inc.

Corporate Governance

Related Party Transactions

• The sales of Class A Common Stock by Tessera Venture Capital Fund, LP and Tessera Venture Capital Fund II, LP are considered related party transactions, as the reporting person (Sachin Chand Jaitly), a Director of Figure Technology Solutions, Inc., is a Managing Partner of the general partners for both funds.

Stakeholder Impact

• Shareholders may interpret the significant insider selling as a negative signal, potentially leading to downward pressure on the stock price.
• Investment professionals may scrutinize the reasons behind the complete liquidation by the affiliated funds, despite the ethical wall disclaimer.

Key Dates

Recommendation

The significant sale of shares by funds associated with a director, resulting in zero holdings, typically signals a negative outlook. However, the explicit disclaimer regarding an 'ethical wall' and non-participation in investment decisions by the director complicates a direct interpretation of personal sentiment. Without further company-specific news or financial updates, a 'hold' recommendation is prudent, advising investors to monitor future developments and the company's performance.

Keywords

Figure Technology Solutions, FIGR, Insider Trading, Form 4, Director Sale, Equity Sale, Tessera Venture Capital, Class A Common Stock