Figure Technology (FIGR) CFO Kgil Minchung Exercises Options

What Happened
Kgil Minchung, Chief Financial Officer of Figure Technology Solutions, exercised stock options on September 11, 2026, acquiring 20,746 shares at an exercise price of $4.82 per share for a total cost of $99,996. The same filing also reports a conversion/disposition of 20,746 derivative units at $0.00 (no cash proceeds) on the same date. This is an acquisition via option exercise (a purchase of underlying shares), not an open-market buy or sale.

Key Details

• Transaction date: 2026-09-11 (reported on Form 4 filed 2026-09-15).
• Exercise: 20,746 shares acquired at $4.82/share = $99,996 (transaction code M = option exercise).
• Conversion/disposition: 20,746 shares shown as disposed at $0.00 (derivative conversion).
• Shares owned after the transaction: not specified in the provided filing details.
• Footnote: F1 — the option vests 25% on Dec 2, 2025, and the remainder in 36 monthly installments thereafter.
• Filing timeliness: the Form 4 was filed four days after the transaction date; this appears later than the typical 2-business-day deadline for insider reports.

Context
This was an option exercise (insider acquiring shares by paying the exercise price). The filing does not show an immediate sale of shares for cash; the $0.00 disposition line likely reflects a conversion/settlement of derivative units rather than a market sale. Vesting terms in the footnote indicate these options vest over time (initial quarter then monthly installments). As always, insider option exercises are routine compensation events and do not by themselves indicate the insider’s view of the company’s near-term stock direction.