Figma (FIG) director moves Sequoia fund shares in-kind
Rhea-AI Filing Summary
For Figma, Inc. (FIG), director Reed Andrew Phillips reported a series of code J restructurings of Class A Common Stock involving Sequoia-affiliated funds. On August 25 and 27, 2026, entities such as Sequoia Capital U.S. Growth Fund VIII, L.P., Sequoia Grove II, LLC and Sequoia Grove UK, L.P. made pro rata in-kind distributions of shares for no consideration, while Sequoia Capital Fund, L.P., Sequoia Capital Fund Parallel, LLC and Phillips’ direct holdings acquired shares in related in-kind movements. Footnotes state these were pro rata in-kind distributions to partners or members and that Phillips disclaims beneficial ownership of the fund-held securities except to the extent of his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 5,410,279 shares
Net Sell
16 txns
Insider
Reed Andrew Phillips
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Class A Common Stock F1, F2 | 2,215,239 | $0.00 | $0.00 |
| Other | Class A Common Stock F1, F3 | 713,067 | $0.00 | $0.00 |
| Other | Class A Common Stock F1, F3 | 14,533 | $0.00 | $0.00 |
| Other | Class A Common Stock F1, F4 | 143,536 | $0.00 | $0.00 |
| Other | Class A Common Stock F1, F4 | 35,223 | $0.00 | $0.00 |
| Other | Class A Common Stock F1 | 58,892 | $0.00 | $0.00 |
| Other | Class A Common Stock F1, F2 | 2,215,239 | $0.00 | $0.00 |
| Other | Class A Common Stock F1, F3 | 713,067 | $0.00 | $0.00 |
| Other | Class A Common Stock F1, F3 | 14,533 | $0.00 | $0.00 |
| Other | Class A Common Stock F1, F4 | 143,536 | $0.00 | $0.00 |
| Other | Class A Common Stock F1, F4 | 35,320 | $0.00 | $0.00 |
| Other | Class A Common Stock F1 | 58,892 | $0.00 | $0.00 |
| holding | Class A Common Stock F2 | -- | -- | -- |
| holding | Class A Common Stock F2 | -- | -- | -- |
| holding | Class A Common Stock F2 | -- | -- | -- |
| holding | Class A Common Stock F2 | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 17,721,916 shares (Indirect, Sequoia Capital U.S. Growth Fund VIII, L.P.);
Class A Common Stock — 5,704,534 shares (Indirect, Sequoia Grove II, LLC);
Class A Common Stock — 116,263 shares (Indirect, Sequoia Grove UK, L.P.);
Class A Common Stock — 287,072 shares (Indirect, Sequoia Capital Fund, L.P.);
Class A Common Stock — 70,543 shares (Indirect, Sequoia Capital Fund Parallel, LLC);
Class A Common Stock — 130,199 shares (Direct);
Class A Common Stock — 1,077,911 shares (Indirect, SC U.S. Growth IX Management, L.P.);
Class A Common Stock — 1,971,015 shares (Indirect, SC US/E Growth X Management, L.P.);
Class A Common Stock — 60,000 shares (Indirect, Sequoia Capital US/E Expansion Fund I, L.P.);
Class A Common Stock — 1,466,852 shares (Indirect, SC Expansion Fund II Management, L.P.)
Footnotes (4)
- F1. Represents a pro rata in-kind distribution of shares of Class A Common Stock of the Issuer to partners or members for no consideration and includes subsequent pro rata in-kind distributions by general partners or managing members to their respective partners or members for no consideration.
- F2. The Reporting Person is a director and stockholder of SC US (TTGP), Ltd. SC US (TTGP), Ltd. is (i) the general partner of SC U.S. Growth IX Management, L.P., (ii) the general partner of SC US/E Growth X Management, L.P., (iii) the general partner of SC U.S. Growth VIII Management, L.P., which is the general partner of Sequoia Capital U.S. Growth Fund VIII, L.P., (iv) the general partner of SC US/E Expansion Fund I Management, L.P, which is the general partner of Sequoia Capital US/E Expansion Fund I, L.P. and (v) the general partner of SC Expansion Fund II Management, L.P. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes.
- F3. The Reporting Person is a member of Sequoia Grove II, LLC and a limited partner of Sequoia Grove UK, L.P. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes.
- F4. The Reporting Person is a director and stockholder of SC US (TTGP), Ltd. SC US (TTGP), Ltd. is the general partner of Sequoia Capital Fund Management, L.P., which is the general partner of Sequoia Capital Fund, LP (SCF) and the managing member of Sequoia Capital Fund Parallel, LLC (SCFP). The Reporting Person disclaims beneficial ownership of the shares held by SCF or SCFP except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes.
Key Figures
Shares distributed by Sequoia Capital U.S. Growth Fund VIII, L.P. on 2026-08-27: 2,215,239 shares of Class A Common Stock
Shares distributed by Sequoia Capital U.S. Growth Fund VIII, L.P. on 2026-08-25: 2,215,239 shares of Class A Common Stock
Shares acquired by Sequoia Capital Fund, L.P. on 2026-08-27: 143,536 shares of Class A Common Stock
+5 more
8 metrics
Shares distributed by Sequoia Capital U.S. Growth Fund VIII, L.P. on 2026-08-27
2,215,239 shares of Class A Common Stock
Pro rata in-kind distribution for no consideration; indirect disposition
Shares distributed by Sequoia Capital U.S. Growth Fund VIII, L.P. on 2026-08-25
2,215,239 shares of Class A Common Stock
Pro rata in-kind distribution for no consideration; indirect disposition
Shares acquired by Sequoia Capital Fund, L.P. on 2026-08-27
143,536 shares of Class A Common Stock
Code J other acquisition, indirect ownership
Shares acquired by Sequoia Capital Fund Parallel, LLC on 2026-08-27
35,223 shares of Class A Common Stock
Code J other acquisition, indirect ownership
Shares acquired directly by Reed Andrew Phillips on 2026-08-27
58,892 shares of Class A Common Stock
Code J other acquisition, direct ownership
Indirect holding SC U.S. Growth IX Management, L.P.
1,077,911 shares of Class A Common Stock
Total shares following transaction as of 2026-08-25; indirect
Indirect holding SC US/E Growth X Management, L.P.
1,971,015 shares of Class A Common Stock
Total shares following transaction as of 2026-08-25; indirect
Indirect holding SC Expansion Fund II Management, L.P.
1,466,852 shares of Class A Common Stock
Total shares following transaction as of 2026-08-25; indirect
Key Terms
pro rata in-kind distribution, beneficial ownership, pecuniary interest, Section 16, +1 more
5 terms
pro rata in-kind distribution financial
"Represents a pro rata in-kind distribution of shares of Class A Common"
beneficial ownership financial
"The Reporting Person disclaims beneficial ownership of these securities except"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"except to the extent of his pecuniary interest therein, and the inclusion"
Section 16 regulatory
"deemed an admission of beneficial ownership of the reported securities for purposes of Section 16"
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
code J regulatory
"transaction_code": "J", "transaction_code_description": "Other acquisition or disposition""
FAQ
What insider transactions were reported at Figma, Inc. (FIG)?
Director Reed Andrew Phillips reported multiple code J restructurings of Class A Common Stock on August 25 and 27, 2026, involving pro rata in-kind distributions and related acquisitions among Sequoia-affiliated funds and his direct holdings, all at a reported price of $0.00 per share.
Were the FIG transactions ordinary market buys or sells?
No cash-market buys or sells were reported. All entries use code J, described as “Other acquisition or disposition,” and footnotes characterize them as pro rata in-kind distributions and related in-kind acquisitions for no consideration among Sequoia-affiliated entities and Reed Andrew Phillips.
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