Field Dylan 4

What Happened Dylan Field, a reported 10% owner of Figma (FIG), converted 486,930 derivative securities into common shares (recorded at $0) and sold those shares in multiple open-market transactions on February 26, 2026. The sales generated total gross proceeds of approximately $14.99 million (weighted-average sale price ≈ $30.80). The individual sales were executed at prices ranging roughly from $29.88 to $32.62 per share.

These were disposals (sales), not purchases — typically a routine diversification or liquidity action rather than a bullish insider purchase signal.

Key Details

• Transaction date: February 26, 2026; Form 4 filed March 2, 2026.
• Shares converted and sold: 486,930 shares (three conversion blocks of 250,000; 62,500; and 174,430).
• Total proceeds: ~$14,990,904; weighted-average sale price ≈ $30.80/share.
• Reported price range across the trades: about $29.88 to $32.62 per share (see filing footnotes for group ranges).
• Sales executed pursuant to a Rule 10b5-1 trading plan adopted August 4, 2025 (the “Field Diversification Plan”) — see footnote F1.
• Conversions recorded at $0 cost on the Form 4 (derivative conversions), and Footnote F9 notes Class B shares are convertible into Class A on a one-for-one basis.
• Trust-related notes: transfers to trusts are reported (e.g., transfers on Feb 20, 2026 per footnotes F5 and F10); some shares are held by related entities/LLC (F4, F11).
• Shares owned after the transaction: not specified in the excerpt provided.
• Filing timeliness: Form filed March 2 for Feb 26 trades; filing appears to be within the normal Form 4 window (not marked as late in the excerpt).

Context

• “Conversion of derivative security (C)” here means derivative interests (convertible shares/rights) were converted into common stock (no cash paid on conversion) and then sold. The filing shows conversion lines and corresponding market-sale lines executed the same day.
• Sales under a 10b5-1 plan are pre-arranged and generally indicate a planned diversification/liquidity event rather than reactive insider selling based on nonpublic information.
• As a 10% owner (not necessarily an executive), Field is a large, controlling-type holder; such holders often move shares into trusts or sell under planned programs for estate, tax, or diversification reasons.