Form 4: Figure CEO Tannenbaum Trades Shares Under 10b5-1 Plan

Michael Tannenbaum, CEO of Figure Technology Solutions, Inc., reported transactions involving the acquisition and sale of Class A Common Stock under a Rule 10b5-1 trading plan.

Summary

• Michael Tannenbaum, CEO and Director of Figure Technology Solutions, Inc. (FIGR), executed a series of transactions on May 19th and May 20th, 2026.
• These transactions included the acquisition of 14,871 shares on May 19th at $4.82 per share and 2,031 shares on May 20th at $4.82 per share, likely related to stock options.
• Concurrently, Tannenbaum sold a total of 16,600 shares of Class A Common Stock across these two days.
• Specifically, 14,562 shares were sold on May 19th at a weighted average price of $37.2485, and 309 shares were sold at a weighted average price of $38.145.
• On May 20th, 2,031 shares were sold at a weighted average price of $36.027.
• All sales were conducted under a Rule 10b5-1 trading plan adopted on December 3, 2025, which provides an affirmative defense against insider trading allegations.
• Following these transactions, Tannenbaum beneficially owns 3,193,641 shares of Class A Common Stock directly.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing. While there are significant sales by the CEO, they are conducted under a pre-established Rule 10b5-1 plan, which is a standard compliance mechanism.

Positives

• The transactions were executed under a pre-arranged Rule 10b5-1 trading plan, indicating adherence to compliance and governance standards.
• Acquisition of shares at a lower price ($4.82) suggests potential for future gains if the stock price appreciates.
• The CEO continues to hold a significant number of shares (3,193,641) after the reported sales.

Negatives

• Significant sale of Class A Common Stock by the CEO, totaling 16,600 shares.
• The sales occurred at prices substantially higher than the acquisition price, indicating the CEO is realizing gains.
• The weighted average sale prices ranged from $36.027 to $38.145, while shares were acquired at $4.82.

Risks

• The Rule 10b5-1 plan was adopted on December 3, 2025, and the sales occurred in May 2026, indicating a potential shift in the CEO's outlook or liquidity needs.
• While the plan provides a defense, significant sales by a CEO can sometimes be interpreted negatively by the market, potentially impacting share price.

Future Outlook

The filing does not contain explicit forward-looking statements or guidance. However, the execution of a Rule 10b5-1 plan implies a pre-determined strategy for future transactions.

Management Comments

• The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted on December 3, 2025.
• 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.

Industry Context

StockSavvy.ai notes that Form 4 filings are routine for executives and directors, detailing changes in their beneficial ownership. The use of a Rule 10b5-1 plan is a common and accepted practice for managing personal stock transactions while mitigating insider trading concerns, especially for companies in dynamic sectors like technology.

Corporate Governance

Stakeholder Impact

• Shareholders: The sale of shares by the CEO, even under a 10b5-1 plan, may be perceived by some investors as a signal of reduced confidence or a need for liquidity, potentially influencing short-term stock price sentiment.
• Management: Demonstrates adherence to corporate governance best practices by utilizing a Rule 10b5-1 plan for personal stock transactions.
• Regulatory Bodies: The filing ensures transparency and compliance with SEC regulations regarding insider transactions.

Next Steps

• Continued execution of the Rule 10b5-1 trading plan as per its terms.
• Potential future filings of Form 4 to report further changes in beneficial ownership.

Key Dates

Keywords

Form 4, SEC Filing, Insider Trading, Rule 10b5-1, Stock Options, Class A Common Stock, Beneficial Ownership, Michael Tannenbaum, Figure Technology Solutions, FIGR, Stock Sale, Stock Acquisition