Kleiner Perkins (NYSE: FIG) funds shift Figma ownership via in-kind moves

Rhea-AI Filing Summary

Figma, Inc. reported a series of ownership reclassifications involving Kleiner Perkins entities rather than open‑market trades. On February 25, 2026, Kleiner Perkins Caufield & Byers XVII, LLC made a pro-rata in-kind distribution of Class A Common Stock to its members, including KPCB XVII Associates, LLC, covering millions of shares at a stated price of $0.00 per share. Related entities, including KPCB XVII Founders Fund, LLC and KPCB XVII Associates, LLC, also carried out pro-rata in-kind distributions and a change in the form of ownership. Footnotes specify these moves were not purchases or sales and occurred without additional consideration, with managing members exercising shared voting and dispositive control and disclaiming beneficial ownership beyond their pecuniary interests.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Kleiner Perkins Caufield & Byers XVII, LLC

(Last) (First) (Middle)

2750 SAND HILL ROAD

(Street)

MENLO PARK CA 94025

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Figma, Inc. [ FIG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/25/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	02/25/2026		J(1)		4,763,981	D	$0	42,875,831	D(2)
Class A Common Stock	02/25/2026		J(3)		155,962	D	$0	1,403,660	I	By KPCB XVII Founders Fund, LLC(2)
Class A Common Stock	02/25/2026		J(4)		1,190,996	A	$0	1,190,996	I	By KPCB XVII Associates, LLC(2)
Class A Common Stock	02/25/2026		J(5)		1,188,289	D	$0	2,707	I	By KPCB XVII Associates, LLC(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

Kleiner Perkins Caufield & Byers XVII, LLC

(Last) (First) (Middle)

2750 SAND HILL ROAD

(Street)

MENLO PARK CA 94025

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

KPCB XVII Associates, LLC

(Last) (First) (Middle)

2750 SAND HILL ROAD

(Street)

MENLO PARK CA 94025

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. Represents a pro-rata in-kind distribution, and not a purchase or sale, without additional consideration by Kleiner Perkins Caufield & Byers XVII, LLC ("KPCB XVII") of Class A Common Stock of the Issuer to its members, including KPCB XVII Associates, LLC ("KPCB XVII Associates," and such distribution, the "KPCB XVII Distribution").

2. These securities are held for convenience in the name of "KPCB Holdings, Inc., as nominee" for the accounts of these entities. The managing member of KPCB XVII and KPCB XVII Founders Fund, LLC ("KPCB XVII Founders") is KPCB XVII Associates. Theodore E. Schlein, Beth Seidenberg, Mamoon Hamid and Ilya Fushman, the managing members of KPCB XVII Associates, exercise shared voting and dispositive control over the shares held by KPCB XVII and KPCB XVII Founders. Such managing members disclaim beneficial ownership of all shares held by KPCB XVII and KPCB XVII Founders except to the extent of their pecuniary interest therein.

3. Represents a pro-rata in-kind distribution, and not a purchase or sale, without additional consideration by KPCB XVII Founders of Class A Common Stock of the Issuer to its members.

4. Represents a change in the form of ownership as a result of the receipt by KPCB XVII Associates of shares of Class A Common Stock of the Issuer in the KPCB XVII Distribution.

5. Represents a pro-rata in-kind distribution, and not a purchase or sale, without additional consideration by KPCB XVII Associates of Class A Common Stock of the Issuer to its members.

	/s/ Kleiner Perkins Caufield & Byers XVII, LLC By: /s/ Susan Biglieri, Chief Financial Officer	02/27/2026
	/s/ KPCB XVII Associates, LLC By: /s/ Susan Biglieri, Chief Financial Officer	02/27/2026
	** Signature of Reporting Person	Date
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FAQ

What insider activity did Kleiner Perkins entities report in Figma (FIG) shares?

Kleiner Perkins-related entities reported pro-rata in-kind distributions of Figma Class A Common Stock. These were internal reallocations among fund members and affiliates, described as not being purchases or sales and occurring without additional cash consideration according to the disclosed footnotes.

Did Kleiner Perkins buy or sell Figma (FIG) stock in this Form 4?

No, the filing states the transactions were pro-rata in-kind distributions, not purchases or sales. The shares were distributed without additional consideration, reflecting internal ownership reallocation among Kleiner Perkins entities rather than market buying or selling of Figma stock.

Which Kleiner Perkins entities are involved in the Figma (FIG) ownership changes?

Entities include Kleiner Perkins Caufield & Byers XVII, LLC, KPCB XVII Associates, LLC and KPCB XVII Founders Fund, LLC. Footnotes explain their relationships, with KPCB XVII Associates acting as managing member and certain individuals sharing voting and dispositive control over the reported Figma shares.

What does the Form 4 say about beneficial ownership of Figma (FIG) shares?

The filing notes managing members of KPCB XVII Associates share voting and dispositive control over Figma shares held by related funds. These individuals disclaim beneficial ownership of those shares except to the extent of their pecuniary interest, limiting personal economic attribution in the reported positions.

How did the Form 4 describe changes in Figma (FIG) share ownership form?

One footnote states a transaction represents a change in the form of ownership following receipt of Figma Class A shares in the KPCB XVII distribution. Another describes a subsequent pro-rata in-kind distribution by KPCB XVII Associates, again without additional consideration or classification as a purchase or sale.