Figure Technology (FIGR) director Cagney sells 35,190 shares under 10b5-1 plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Figure Technology Solutions director Michael Scott Cagney reported a net sale of 35,190 shares of Class A Common Stock. On May 13, 2026, he converted 35,190 shares of Class B Common Stock into Class A and then sold 35,190 Class A shares in multiple open-market transactions at weighted average prices between $35.175 and $40.935, under a Rule 10b5-1 trading plan adopted on December 12, 2025.
On May 10, 2026, 31,496 Class B shares were disposed of to satisfy tax liability on vesting of restricted stock units, which was not a market sale. After these transactions, he continues to hold substantial indirect interests, including 17,661 Class A shares held by a family trust, 6,128,993 Class A shares held by his spouse, and several million Class B shares held through children’s and family trusts.
Positive
- None.
Negative
- None.
Insights
Routine 10b5-1 sale funded by a derivative conversion, with large holdings remaining.
Michael Scott Cagney converted 35,190 Class B shares into Class A, then sold 35,190 Class A shares in open-market trades on May 13, 2026. These trades were executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 12, 2025, indicating a scheduled liquidity event rather than a discretionary timing decision.
Separately, 31,496 Class B shares were disposed of on May 10, 2026 to cover tax obligations on restricted stock unit vesting, which the filing clarifies is not a market sale. Despite the net sale, Cagney retains large indirect positions: millions of Class A and Class B shares held via his spouse and several family and children’s trusts.
Overall, the filing shows a net-sell of 35,190 shares against a backdrop of substantial continuing ownership, including derivative Class B positions convertible into Class A. Subsequent filings may further detail any future activity under the same Rule 10b5-1 plan.
Insider Trade Summary 10b5-1
Net Seller: 35,190 shares ($1,344,274)
Net Sell
14 txns
Insider
Cagney Michael Scott
Role
null
Sold
35,190 shs ($1.34M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Class B Common Stock | 35,190 | $0.00 | -- |
| Conversion | Class A Common Stock | 35,190 | $0.00 | -- |
| Sale | Class A Common Stock | 2,394 | $35.6786 | $85K |
| Sale | Class A Common Stock | 5,849 | $36.6052 | $214K |
| Sale | Class A Common Stock | 10,105 | $37.5654 | $380K |
| Sale | Class A Common Stock | 6,202 | $38.2952 | $238K |
| Sale | Class A Common Stock | 2,958 | $39.4848 | $117K |
| Sale | Class A Common Stock | 7,682 | $40.4653 | $311K |
| Tax Withholding | Class B Common Stock | 31,496 | $37.63 | $1.19M |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Class B Common Stock — 32,074,189 shares (Direct, null);
Class A Common Stock — 35,190 shares (Direct, null);
Class B Common Stock — 4,313,645 shares (Indirect, By Family Trust);
Class A Common Stock — 6,128,993 shares (Indirect, By Spouse)
Footnotes (1)
- Each outstanding share of Class B Common Stock will be convertible at any time at the option of the holder into one share of Class A Common Stock. In addition, each share of Class B Common Stock will convert automatically into one share of Class A Common Stock upon any transfer, whether or not for value, except for certain permitted transfers. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted on December 12, 2025. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $35.175 to $35.995. 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 price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $36.02 to $36.995. 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 price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $37.005 to $37.995. 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 price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $38.00 to $38.965. 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 price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $39.00 to $39.98. 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 price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $40.00 to $40.935. 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. Represents shares withheld by the Issuer to satisfy tax liability on vesting of restricted stock units. Not a market sale. Reflects shares acquired in a transaction exempt from reporting pursuant to Rule 16a-13.
Key Figures
Class A shares sold: 35,190 shares
Sale price ranges: $35.175–$40.935 per share
Class B converted: 35,190 shares
+3 more
6 metrics
Class A shares sold
35,190 shares
Open-market sales on May 13, 2026
Sale price ranges
$35.175–$40.935 per share
Weighted-average prices across multiple trades
Class B converted
35,190 shares
Converted to Class A on May 13, 2026
Tax-withholding shares
31,496 shares
Class B withheld at $37.63 to cover RSU tax
Indirect Class A by spouse
6,128,993 shares
Held indirectly by spouse
Indirect Class B by family trust
4,313,645 shares
Convertible into Class A; held by family trust
Key Terms
Rule 10b5-1 trading plan, weighted average price, restricted stock units, tax liability, +2 more
6 terms
Rule 10b5-1 trading plan regulatory
"The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted on December 12, 2025."
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
weighted average price financial
"The price reported in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
restricted stock units financial
"Represents shares withheld by the Issuer to satisfy tax liability on vesting of restricted stock units."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
tax liability financial
"Represents shares withheld by the Issuer to satisfy tax liability on vesting of restricted stock units."
derivative security financial
"Conversion of derivative security"
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
Rule 16a-13 regulatory
"Reflects shares acquired in a transaction exempt from reporting pursuant to Rule 16a-13."
FAQ
What did Michael Scott Cagney report in this Form 4 for FIGR?
He reported converting 35,190 Class B shares into Class A, then selling 35,190 Class A shares in open-market trades on May 13, 2026. The filing also shows a tax-withholding disposition related to restricted stock units on May 10, 2026.
Was the FIGR insider sale by Michael Scott Cagney made under a Rule 10b5-1 plan?
Yes. The filing states the sales were effected pursuant to a Rule 10b5-1 trading plan adopted on December 12, 2025. Such plans pre-schedule trades, indicating the timing of these sales was arranged in advance rather than chosen opportunistically.
What is the tax-withholding transaction reported for Figure Technology (FIGR)?
On May 10, 2026, 31,496 Class B shares were withheld by the issuer to satisfy tax liability on vesting of restricted stock units at $37.63 per share. The filing clarifies this disposition was not a market sale but a tax-payment mechanism.
What does the Form 4 say about Michael Scott Cagney’s derivative Class B holdings in FIGR?
The filing notes Class B shares are convertible at any time into Class A on a one-for-one basis and automatically convert upon most transfers. Derivative summaries show several million Class B shares held indirectly through children’s and family trusts at a stated exercise price of $0.00.