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Figure Technology Solutions, Inc.·4

May 15, 4:57 PM ET

Cagney Michael Scott 4

Research Summary

AI-generated summary

Updated

Figure (FIGR) 10% Owner Cagney Scott Sells 35,190 Shares

What Happened
Cagney Michael Scott, a 10% owner of Figure Technology Solutions, converted Class B shares to Class A and sold 35,190 shares in open‑market transactions on May 13, 2026, for aggregate proceeds of approximately $1.34 million (weighted‑average prices across multiple trades). Separately on May 10, 2026, 31,496 shares were disposed to satisfy tax liability/exercise cost at $37.63 per share (reported as a derivative/tax withholding transaction totaling ~$1.185M) — this was not a market sale.

Key Details

  • Transaction dates: May 10, 2026 (tax/withholding); May 13, 2026 (conversion and market sales).
  • Open‑market sales on May 13: 35,190 shares sold in multiple trades at weighted average prices ranging roughly from $35.18 to $40.47, total proceeds ≈ $1,344,274.
  • Tax/withholding on May 10: 31,496 shares at $37.63 → $1,185,194 (shares withheld to satisfy tax liability; not a public sale).
  • Sales executed pursuant to a Rule 10b5‑1 trading plan adopted Dec 12, 2025 (footnote F2).
  • Conversion note: Class B shares are convertible into Class A shares and convert automatically on transfer (footnote F1).
  • Filing dated May 15, 2026; the May 10 transaction appears to have been reported after the Form 4 two‑business‑day window (i.e., filing may be late for that item).
  • Shares owned after the transactions: not specified in the information provided.

Context

  • These transactions combine a conversion of convertible (Class B) shares to Class A and routine sales under a pre‑established 10b5‑1 plan. Conversions allowed the holder to sell Class A shares; the sales themselves were planned under the trading plan.
  • The May 10 disposal was a tax/withholding event (common on vesting/exercise) and is not a market sale — such withholdings reduce share count but do not reflect a discretionary sale decision.
  • As a 10% owner (not labeled as CEO/CFO here), Scott’s sales are ownership‑level transactions rather than typical executive buy/sell signals; investors should view these as informative but not necessarily indicative of company outlook.