Krieger Michel 4

What Happened

• Michel Krieger, a director of Figma, converted derivative securities into Class A common stock on August 1, 2025. The filing shows conversions of 122,295 shares and 5,227 shares, for a total of 127,522 shares. The conversion entries report no cash proceeds (price shown as $0.00 or N/A), reflecting a non‑cash conversion rather than an open‑market sale or purchase.

Key Details

• Transaction date: August 1, 2025.
• Amount converted/acquired: 122,295 shares and 5,227 shares (total 127,522 shares).
• Reported price/proceeds: $0.00 for the disposed derivative securities; acquisition price shown as N/A (conversion, not a cash purchase).
• Post‑transaction ownership: Not specified in the provided filing.
• Footnotes: F1 — Series Seed and Series A preferred automatically converted into Class A common on a 1‑for‑1 basis in connection with the issuer’s IPO; the securities have no expiration date. F2 — The converted securities are held by The Michel Krieger Revocable Trust, of which Krieger is trustee.
• Filing timeliness: Transaction occurred Aug 1, 2025; Form 4 was filed March 18, 2026, indicating a late report.

Context

• This was a conversion of preferred/derivative securities into common stock (code C in the filing), meaning the derivatives were cancelled or converted rather than sold for cash. Such automatic conversions tied to an IPO are routine corporate housekeeping and do not necessarily signal a buy or sell decision. The reporting person holds the resulting shares in a revocable trust.