Figma (FIG) Director Reed Phillips Disposes and Receives Shares

What Happened

• Reed Andrew Phillips, a director of Figma, reported a series of "other" (code J) acquisitions and dispositions on Aug 25 and Aug 27, 2026. The filings list disposals of 2,215,239; 713,067; and 14,533 shares, and acquisitions of 143,536; ~35,320; and 58,892 shares. All transactions are reported at $0.00 per share (total reported value $0).
• The $0 price and the filing footnote indicate these were pro rata in‑kind distributions/reallocations of Class A common stock (no cash exchanged), not open‑market buys or cash sales.

Key Details

• Transaction dates: Aug 25, 2026 and Aug 27, 2026.
• Reported transactions (selected):
  • Disposed: 2,215,239; 713,067; 14,533 shares — $0.00 per share.
  • Acquired: 143,536; 35,223–35,320; 58,892 shares — $0.00 per share.
• Filing value: All transactions reported at $0 (in‑kind distribution), so no cash proceeds or purchases.
• Shares owned after transaction: Not specified in the filing.
• Footnotes of note:
  • F1: Confirms these are pro rata in‑kind distributions of Class A common stock to partners/members for no consideration.
  • F2–F4: Explain the reporting person’s roles with Sequoia-related entities and disclaim direct beneficial ownership except to the extent of pecuniary interest.
• Filing timeliness: Reported on Aug 27 for transactions beginning Aug 25 — appears to be filed within the standard Form 4 reporting window (not flagged as late).

Context

• In‑kind distributions and internal reallocations (common with venture/asset managers and funds) are administrative transfers and do not represent open‑market buying or selling activity by the director. Such transfers typically do not indicate the director’s personal trading sentiment.
• Because the transactions involve Sequoia-related entities and include ownership disclaimers, they reflect fund/partner movements rather than direct, unilateral trades by the director.