Figma Insider Withholding: 9,409 Shares Net-Settled for Taxes

Rhea-AI Filing Summary

Brendan Mulligan, General Counsel and Secretary of Figma, Inc. (FIG), reported a transaction dated 09/01/2025 in which 9,409 shares of Class A Common Stock were disposed of at a price of $70.28 per share. The filing explains these shares were withheld by the issuer to satisfy tax withholding obligations arising from the net settlement of restricted stock units.

After the withholding, Mr. Mulligan beneficially owns 956,214 shares of Class A Common Stock. The Form 4 was signed on 09/03/2025. The disclosure is a routine insider tax-withholding transaction rather than an open-market sale or purchase.

Positive

• Disclosure compliance: The reporting person timely filed a Form 4 with specific transaction details.
• Retention of ownership: After withholding, Mr. Mulligan still beneficially owns 956,214 Class A shares, reflecting continued substantial ownership.

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine tax-withholding via net settlement; indicates compliance with required reporting and no change in compensation intent.

The Form 4 documents a standard issuer-withheld share disposition to satisfy tax obligations from RSU vesting. This method conserves cash for the executive and is commonly used for vested equity compensation. The filing shows ongoing beneficial ownership of 956,214 Class A shares, and the disclosure timeline (transaction 09/01/2025, signature 09/03/2025) meets Section 16 reporting norms.

Securities Analyst

TL;DR: Small, non-market-sale disposal; unlikely to be material for valuation or signal company-specific news.

The disposition of 9,409 shares at $70.28 reflects issuer withholding rather than an open-market transaction, so it does not indicate executive liquidity needs or intent to reduce exposure. Retained beneficial ownership of 956,214 shares remains substantial; the transaction value (~$660k) is modest relative to that holding. No derivative activity is reported.

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

OMB APPROVAL

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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^*

Mulligan Brendan

(Last) (First) (Middle)

C/O FIGMA, INC.

760 MARKET STREET, FLOOR 10

(Street)

SAN FRANCISCO CA 94102

(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		10% Owner
X	Officer (give title below)		Other (specify below)
	General Counsel and Secretary

3. Date of Earliest Transaction (Month/Day/Year)
09/01/2025

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	09/01/2025		F(1)		9,409	D	$70.28	956,214	D

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 transaction represents the number of shares of Class A Common Stock withheld by the Issuer to satisfy tax withholding liabilities in connection with the net settlement of restricted stock units.

	/s/ Brendan Mulligan	09/03/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did Brendan Mulligan report on Form 4 for FIG?

The Form 4 reports the withholding of 9,409 Class A shares on 09/01/2025 to satisfy tax withholding from the net settlement of restricted stock units.

At what price were the shares withheld in the FIG Form 4?

The withheld shares are reported at a price of $70.28 per share.

How many FIG shares does Brendan Mulligan beneficially own after the transaction?

Following the withholding, Mr. Mulligan beneficially owns 956,214 shares of Class A Common Stock.

Was the disposition an open-market sale or a tax withholding?

The filing explicitly states the shares were withheld by the issuer to satisfy tax withholding liabilities from RSU net settlement, not an open-market sale.

When was the Form 4 signed?

The Form 4 bears the reporting persons signature dated 09/03/2025.