Figure Technology director sells 67,840 shares
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Form Type
4
Rhea-AI Filing Summary
Figure Technology Solutions director and 10% owner Michael Scott Cagney converted 67,840 shares of Class B Common Stock into Class A Common Stock, then sold the same 67,840 Class A shares in three open-market transactions on April 15, 2026 at weighted average prices of $33.8475, $35.1422, and $35.9328. These sales were made under a pre-arranged Rule 10b5-1 trading plan adopted on December 12, 2025. After the transactions, he reported no direct Class A holdings but continued to hold 29,903,863 shares of Class B Common Stock directly and additional substantial indirect Class A and Class B interests through family trusts, an LLC, children’s trusts, and his spouse.
Insights
Cagney executes planned sale of 67,840 shares while retaining large indirect stake.
Michael Scott Cagney converted 67,840 Class B shares into Class A and sold all of them in three open-market trades on April 15, 2026, at weighted average prices of $33.8475, $35.1422, and $35.9328. The filing classifies the transactions as open-market sales.
A footnote states the sales occurred under a Rule 10b5-1 trading plan adopted on December 12, 2025, indicating they were pre-scheduled rather than opportunistic. Following the sales, he reports no direct Class A holdings but still owns 29,903,863 Class B shares directly and large indirect positions via trusts and his spouse, so his overall economic exposure remains significant based on this filing.
Insider Trade Summary 10b5-1
Exercise and Sale: 67,840 shares ($2.39M approx. pre-tax spread)
Exercise and Sale
11 txns
Insider
Cagney Michael Scott
Role
Director, 10% Owner
Sold
67,840 shs ($2.39M)
Approx. gross sale proceeds
$2.39M
Approx. exercise cost
$0.00
Approx. pre-tax spread
$2.39M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Class B Common Stock | 67,840 | $0.00 | $0.00 |
| Conversion | Class A Common Stock | 67,840 | $0.00 | $0.00 |
| Sale | Class A Common Stock | 14,121 | $33.8475 | $478K |
| Sale | Class A Common Stock | 26,158 | $35.1422 | $919K |
| Sale | Class A Common Stock | 27,561 | $35.9328 | $990K |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Class B Common Stock — 29,903,863 contracts (Direct);
Class A Common Stock — 0 shares (Direct);
Class B Common Stock — 4,313,645 contracts (Indirect, By Family Trust);
Class B Common Stock — 2,237,012 contracts (Indirect, By Rockfish LLC);
Class B Common Stock — 3,185,970 contracts (Indirect, By Children's Trust 1);
Class B Common Stock — 3,185,970 contracts (Indirect, By Children's Trust 2);
Class A Common Stock — 6,128,993 shares (Indirect, By Spouse);
Class A Common Stock — 17,661 shares (Indirect, By Family Trust)
Footnotes (6)
- F1. Each outstanding share of Class B Common Stock will be convertible at any time at the option of the holder into one share of Class A Common Stock. In addition, each share of Class B Common Stock will convert automatically into one share of Class A Common Stock upon any transfer, whether or not for value, except for certain permitted transfers.
- F2. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted on December 12, 2025.
- F3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $33.56 to $34.395. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $34.595 to $35.58. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $35.605 to $36.35. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F6. Reflects shares acquired in a transaction exempt from reporting pursuant to Rule 16a-9.
Key Figures
Class B to Class A conversion: 67,840 shares
Total shares sold: 67,840 shares
Sale price 1: $33.8475 per share
+5 more
8 metrics
Class B to Class A conversion
67,840 shares
Class B Common Stock converted into Class A on April 15, 2026
Total shares sold
67,840 shares
Class A Common Stock sold in three open-market transactions
Sale price 1
$33.8475 per share
Weighted average price for 14,121 Class A shares sold
Sale price 2
$35.1422 per share
Weighted average price for 26,158 Class A shares sold
Sale price 3
$35.9328 per share
Weighted average price for 27,561 Class A shares sold
Direct Class B holdings after transactions
29,903,863 shares
Class B Common Stock held directly, convertible 1:1 into Class A
Family trust Class B holdings
4,313,645 shares
Class B Common Stock held indirectly by a family trust
Spouse Class A holdings
6,128,993 shares
Class A Common Stock held indirectly by spouse
Key Terms
Rule 10b5-1 trading plan, Class B Common Stock, weighted average price, Conversion of derivative security, +1 more
5 terms
Rule 10b5-1 trading plan financial
"The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted on December 12, 2025."
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
Class B Common Stock financial
"Each outstanding share of Class B Common Stock will be convertible at any time at the option of the holder into one share of Class A Common Stock."
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
weighted average price financial
"The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $33.56 to $34.395."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
Conversion of derivative security financial
"transaction_code_description: Conversion of derivative security"
Rule 16a-9 financial
"Reflects shares acquired in a transaction exempt from reporting pursuant to Rule 16a-9."
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Michael Scott Cagney do in this Form 4 for FIGR?
He converted 67,840 shares of Class B Common Stock into Class A and sold all 67,840 Class A shares in three open-market transactions on April 15, 2026, as reported in this Form 4 filing.
Was the FIGR insider sale by Michael Scott Cagney under a Rule 10b5-1 plan?
Yes. A footnote states the sales were effected under a Rule 10b5-1 trading plan adopted on December 12, 2025, meaning the transactions were pre-arranged rather than decided at the time of sale.
What are Michael Scott Cagney’s remaining direct holdings in Figure Technology after the sale?
After selling all 67,840 directly held Class A shares, he reported no direct Class A ownership. He still held 29,903,863 shares of Class B Common Stock directly, which are convertible into the same number of Class A shares under the terms described.
Does Michael Scott Cagney still have indirect ownership in Figure Technology Solutions (FIGR)?
Yes. The filing shows indirect holdings through a family trust, Rockfish LLC, two children’s trusts, and his spouse, including millions of Class B shares convertible into Class A, plus additional indirect Class A shares held by family accounts.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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