Sequoia entities add 1,466,852 Figma (FIG) shares in open-market buys

Rhea-AI Filing Summary

Figma, Inc. director-associated investment entities reported significant open-market purchases of Class A common stock. Funds managed by SC Expansion Fund II Management, L.P. bought a total of 1,466,852 shares in multiple transactions at weighted average prices around $23.95–$25.90 per share.

The purchases on February 20, 2026 and February 23, 2026 were executed through entities affiliated with Sequoia Capital, and the reporting person disclaims beneficial ownership beyond his pecuniary interest. The filing also updates indirect holdings across several Sequoia funds and related entities.

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^*

Reed Andrew Phillips

(Last) (First) (Middle)

2800 SAND HILL ROAD

SUITE 101

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
02/20/2026

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

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

X	Form filed by One Reporting Person
	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	02/20/2026		P		554,103	A	$25.9038(3)	554,103	I	SC Expansion Fund II Management, L.P.(1)
Class A Common Stock	02/23/2026		P		42,362	A	$23.9503(4)	596,465	I	SC Expansion Fund II Management, L.P.(1)
Class A Common Stock	02/23/2026		P		870,387	A	$24.3215(5)	1,466,852	I	SC Expansion Fund II Management, L.P.(1)
Class A Common Stock								22,152,394	I	Sequoia Capital U.S. Growth Fund VIII, L.P.(1)
Class A Common Stock								1,077,911	I	SC U.S. Growth IX Management, L.P.(1)
Class A Common Stock								1,971,015	I	SC US/E Growth X Management, L.P.(1)
Class A Common Stock								60,000	I	Sequoia Capital US/E Expansion Fund I, L.P.(1)
Class A Common Stock								7,130,668	I	Sequoia Grove II, LLC(2)
Class A Common Stock								145,329	I	Sequoia Grove UK, L.P.(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

Explanation of Responses:

1. 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.

2. 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.

3. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $25.1000 to $26.0000. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff at the Securities and Exchange Commission, upon request, the full information regarding the number of shares sold at each separate price within the range set forth above.

4. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $23.8300 to $24.0000. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff at the Securities and Exchange Commission, upon request, the full information regarding the number of shares sold at each separate price within the range set forth above.

5. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $24.0001 to $24.5000. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff at the Securities and Exchange Commission, upon request, the full information regarding the number of shares sold at each separate price within the range set forth above.

	/s/ Jung Yeon Son, by power of attorney for Andrew Reed	02/24/2026
	** Signature of Reporting Person	Date
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FAQ

What insider activity did Figma (FIG) disclose in this Form 4?

Figma disclosed that entities associated with director Reed Andrew Phillips made open-market purchases of 1,466,852 Class A shares. These transactions were executed by Sequoia-managed funds, with the reporting person disclaiming beneficial ownership beyond his pecuniary interest.

How many Figma (FIG) shares were bought and at what prices?

Sequoia-affiliated entities acquired a total of 1,466,852 Figma Class A shares. The weighted average prices came from multiple trades in ranges of $25.10–$26.00, $23.83–$24.00, and $24.0001–$24.50 per share, according to the Form 4 footnotes.

Who actually holds the Figma (FIG) shares reported in this Form 4?

The shares are held indirectly through entities such as SC Expansion Fund II Management, L.P. and various Sequoia Capital funds and vehicles. The reporting person is affiliated with these entities but disclaims beneficial ownership except for his pecuniary interest.

Were the Figma (FIG) insider transactions open-market purchases or another type?

The Form 4 classifies the key transactions as open-market purchases of Class A common stock, coded "P". These are standard buy transactions executed on the market, not option exercises or gifts, and are reported with detailed weighted average price ranges.

Does this Figma (FIG) Form 4 show any insider sales?

The Form 4 data show no reported sales of Figma Class A common stock. All coded transactions with share amounts are classified as purchases, and the overall transaction summary reflects a net-buy position of 1,466,852 shares for the associated entities.

What indirect Figma (FIG) holdings are updated by this Form 4?

The filing updates indirect holdings totals for several entities, including Sequoia Capital U.S. Growth Fund VIII, L.P., SC U.S. Growth IX Management, L.P., SC US/E Growth X Management, L.P., and Sequoia Grove vehicles, reflecting large existing positions in Figma shares.