Tannenbaum Michael Benjamin 4
4 · Figure Technology Solutions, Inc. · Filed May 21, 2026
Research Summary
AI-generated summary of this filing
Figure (FIGR) CEO Michael Tannenbaum Exercises Options, Sells Shares
What Happened
Michael Benjamin Tannenbaum, CEO of Figure Technology Solutions (FIGR), exercised stock options on May 19–20, 2026 to acquire a total of 16,902 shares (14,871 on 5/19 and 2,031 on 5/20) at $4.82 per share (cost ≈ $81,467). He sold essentially the same number of shares in open-market transactions the same days, generating gross proceeds of about $627,371 (sales: 14,562 shares @ $37.25 WAP; 309 shares @ $38.15 WAP; 2,031 shares @ $36.03 WAP). Net cash proceeds before taxes and fees were roughly $546K.
Key Details
- Transaction dates: exercised options 2026-05-19 and 2026-05-20; open-market sales on 2026-05-19 and 2026-05-20.
- Exercise price/cost: $4.82 per share; total acquisition cost ≈ $81,467.
- Sales (gross proceeds): total ≈ $627,371 (14,562 @ $37.25 WAP; 309 @ $38.15 WAP; 2,031 @ $36.03 WAP). Footnotes note these are weighted-average prices with ranges: $36.91–$37.73, $38.05–$38.31, and $35.62–$36.45 respectively.
- Trading plan: Sales were made under a Rule 10b5-1 trading plan adopted Dec 3, 2025 (Footnote F1).
- Vesting note: The option vested one quarter on Apr 22, 2025, with the remainder vesting in 36 monthly installments (Footnote F5).
- Shares owned after transaction: not specified in the provided filing excerpt.
- Filing timeliness: no late filing flag indicated in the provided data.
Context
This was an exercise of options followed by near-immediate open‑market sales (a common cashless pattern). The presence of an established 10b5‑1 plan indicates the sales were pre‑scheduled rather than ad hoc trades. These transactions are disclosures of insider activity and do not, by themselves, indicate the CEO’s view of the company’s prospects.
Insider Transaction Report
- Exercise/Conversion
Class A Common Stock
2026-05-19$4.82/sh+14,871$71,678→ 3,208,512 total - Sale
Class A Common Stock
[F1][F2]2026-05-19$37.25/sh−14,562$542,413→ 3,193,950 total - Sale
Class A Common Stock
[F1][F3]2026-05-19$38.15/sh−309$11,787→ 3,193,641 total - Exercise/Conversion
Class A Common Stock
2026-05-20$4.82/sh+2,031$9,789→ 3,195,672 total - Sale
Class A Common Stock
[F1][F4]2026-05-20$36.03/sh−2,031$73,171→ 3,193,641 total - Exercise/Conversion
Stock Option
[F5]2026-05-19−14,871→ 4,559,912 totalExercise: $4.82Exp: 2034-04-22→ Class A Common Stock (14,871 underlying) - Exercise/Conversion
Stock Option
[F5]2026-05-20−2,031→ 4,557,881 totalExercise: $4.82Exp: 2034-04-22→ Class A Common Stock (2,031 underlying)
Footnotes (5)
- [F1]The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted on December 3, 2025.
- [F2]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $36.91 to $37.73. 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.
- [F3]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $38.05 to $38.31. 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 $35.62 to $36.45. 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 option vested with respect to one quarter of the underlying shares on April 22, 2025, and vests with respect to the remaining shares in 36 monthly installments thereafter.