KPCB XVII Associates, LLC 4

What Happened
Kleiner Perkins Caufield & Byers XVII, LLC (KPCB XVII), reported multiple in‑kind distributions and related transfers of Figma (FIG) Class A common stock on February 25, 2026. Reported transactions (all at $0.00 per share) include dispositions of 4,763,981; 155,962; and 1,188,289 shares, and an acquisition of 1,190,996 shares. Total disposed = 6,108,232 shares; total acquired = 1,190,996 shares; net reduction/reallocation = 4,917,236 shares. These were recorded as non‑cash, pro‑rata in‑kind distributions and internal changes of ownership form—not open‑market sales.

Key Details

• Transaction date: 2026-02-25; filing accession dated 2026-02-27 (appears timely).
• Prices and value: $0.00 per share; aggregate proceeds/consideration reported = $0.
• Shares after transaction: not specified in the provided excerpt of the Form 4.
• Footnotes of note:
  • F1/F3/F5: Transactions represent pro‑rata in‑kind distributions to members (not purchases/sales).
  • F4: Some entries reflect change in form of ownership when KPCB XVII Associates received shares in the distribution.
  • F2: Securities are held in the name of a nominee ("KPCB Holdings, Inc., as nominee") for accounts; several managing members share voting/dispositive control and disclaim beneficial ownership except for pecuniary interest.
• Insider type: KPCB XVII is an institutional 10% owner (not an individual executive).

Context
These transactions appear to be internal fund/member reallocations (in‑kind distributions and ownership form changes). Because no cash changed hands and the moves were between related entities/members, they do not represent open‑market selling pressure or a clear insider bullish/bearish signal for retail investors. Institutional reorganizations like this are common and mainly affect how ownership is held or allocated among related funds or members.