Figma General Counsel Sells Over 109K Shares for Nearly $2.8 Million
Brendan Mulligan, Figma's General Counsel and Secretary, sold approximately 109,000 shares of Class A Common Stock in a pre-planned transaction under Rule 10b5-1, generating around $2.8 million at an average price of $25.98 per share. The sale occurred on September 3, 2026, and followed the company's recent financial performance, which includes trailing twelve-month revenue of $1.3 billion but a net loss of $1.6 billion. Despite this insider activity, Mulligan still holds around 609,000 shares directly valued at approximately $15.37 million as of September 3, and his total beneficial ownership remains in the vicinity of $13.9 million based on market close prices a day later. Figma's stock has underperformed over the past year with a -63% return, but Mulligan’s pre-scheduled sale suggests it was not influenced by recent price fluctuations. Investors are advised to consider this transaction in context: while significant, it is part of an ongoing series totaling more than $9 million and does not necessarily signal negative sentiment. Figma continues to grow revenue at a 47% year-over-year rate for the first half of 2026 but remains unprofitable with losses exceeding $255 million during that period.
Tickers: $FIG
Topics: executive activity Figma SEC filing share sale