FIGR insider filing: 530,135 options, 297,171 shares sold at $25
Rhea-AI Filing Summary
Figure Technology Solutions insider transactions by CEO/director Michael B. Tannenbaum: The filing reports equity activity on 07/31/2025 and 09/12/2025. On 07/31/2025 the reporting person was issued a stock option for 530,135 shares with a $10.51 exercise price exercisable immediately and expiring 07/31/2035. On 09/12/2025 preferred shares automatically converted into 8,263 Class A shares and the reporting person reached 5,126,537 shares beneficially owned before subsequent transactions that day. Also on 09/12/2025 736,790 shares were withheld to satisfy tax withholding related to RSU vesting (not a market sale) and 297,171 shares were sold at $25 per share, leaving 4,092,576 Class A shares beneficially owned after the reported transactions.
Positive
- None.
Negative
- None.
Insights
TL;DR: Insider exercised options and reduced holdings via a sale and tax-withholding; transactions are routine for post-IPO vesting.
The 07/31/2025 option grant/exercise of 530,135 shares at a $10.51 exercise price increases potential dilution but is standard for executive compensation. The 09/12/2025 entries show an automatic conversion of preferred to 8,263 Class A shares, withholding of 736,790 shares to cover taxes related to RSU vesting, and a reported sale of 297,171 shares at $25. The withholding is explicitly noted as not a market sale. Net beneficial ownership after these actions is reported as 4,092,576 Class A shares, with 530,135 options outstanding exercisable into the same class.
TL;DR: Transactions reflect compensation mechanics and typical insider liquidity following an IPO-related vesting schedule.
The filing documents conversion of preferred stock upon IPO, routine RSU tax withholding, and a partial sale. The option vesting schedule noted (one-quarter vested by 04/23/2025, remainder in 36 monthly installments) clarifies long-term alignment. All actions are reported under Section 16; disclosures appear complete and include an attorney-in-fact signature.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Series C-1 Preferred Stock | 8,263 | $0.00 | -- |
| Conversion | Class A Common Stock | 8,263 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 736,790 | $25.00 | $18.42M |
| Sale | Class A Common Stock | 297,171 | $25.00 | $7.43M |
| Grant/Award | Stock Option | 530,135 | $0.00 | -- |
Footnotes (1)
- Immediately prior to the closing of the Issuer's initial public offering, each share of preferred stock of the Issuer automatically converted into one share of Class A Common Stock. Represents shares withheld to satisfy tax obligations in connection with vesting of the Reporting Person's restricted stock units. Not a market sale. This transaction occurred prior to the Issuer's registration of a class of equity securities under Section 12 of the Securities Exchange Act of 1934, as amended, in connection with the Issuer's initial public offering, and is reported herein pursuant to Rule 16a-2(a). The option vested with respect to one quarter of the underlying shares on April 23, 2025, and vests with respect to the remaining shares in 36 monthly installments thereafter.
