Tannenbaum Michael Benjamin 4

What Happened

• Michael Benjamin Tannenbaum, CEO of Figure Technology Solutions (FIGR), exercised 12,567 options at $4.82 each (cost ≈ $60,573) on April 28, 2026 and conducted multiple open‑market sales totaling 184,194 shares for approximately $6,064,355 on April 28–29, 2026. The sales were carried out in several blocks at weighted average prices between about $31.84 and $34.10 (see detailed ranges below). These were dispositions (sales), not purchases — commonly routine monetization rather than a bullish purchase signal.

Key Details

• Transaction dates: April 28–29, 2026. Form filed April 30, 2026 (timely — within the Form 4 reporting window).
• Exercise/acquisition: 12,567 shares acquired at $4.82 each (total ≈ $60,573).
• Dispositions (open market sales), grouped by reported line (weighted avg price / gross proceeds / price range per footnotes):
  • 30,135 shares @ $32.31 — $973,547 (range $31.69–$32.68) (F2)
  • 49,692 shares @ $33.26 — $1,652,731 (range $32.70–$33.68) (F3)
  • 47,542 shares @ $34.10 — $1,621,101 (range $33.725–$34.36) (F4)
  • 47,875 shares @ $31.84 — $1,524,345 (range $31.38–$32.285) (F5)
  • 8,844 shares @ $32.69 — $289,077 (range $32.395–$33.39) (F6)
  • 106 shares @ $33.53 — $3,554 (range $33.525–$33.5275) (F7)
  • Total shares sold: 184,194; total gross proceeds ≈ $6,064,355.
• Additional derivative line: 12,567 shares listed as a conversion/exercise with $0 proceeds (reported as a derivative disposition) — represents the derivative conversion/settlement related to the option exercise (see F8).
• Shares owned after the transactions: not specified in the provided excerpt of the filing.
• Plan/authorization: Sales were effected pursuant to a Rule 10b5‑1 trading plan adopted December 3, 2025 (F1).

Context

• The filing shows an option exercise plus substantial open‑market sales. Because the sales were executed under a pre‑arranged 10b5‑1 plan, they are typically considered routine sell‑side activity under an automated plan rather than a real‑time trading decision.
• F8 notes the option vesting schedule: one quarter vested April 22, 2025, with the remainder vesting in 36 monthly installments thereafter. The $0 derivative line reflects the mechanics of converting/exercising the option rather than cash proceeds.