The CEO's $4.37M sale, while small relative to market cap, is the largest insider sale at Figma in the past 30 days and follows a derivative conversion. Monitor for any upcoming earnings, guidance changes, or material agreements—cross-filing amplifiers suggest insider trades often precede such events. Given the poor historical T+20 performance on FIG (25% win rate), avoid aggressive short positioning; instead, watch for additional insider filings or corporate disclosures in the next 2-4 weeks.
Price Chart
Executive Summary
A cluster of insider selling at Figma, led by CEO Dylan Field's $4.37M open-market sale alongside tax-withholding transactions by other executives, signals potential bearish sentiment from management. The total open-market sales of ~$4.41M represent about 0.03% of Figma's $12.8B market cap, which is trivial in proportion, but the CEO's sale is notable for its size and timing, occurring after a derivative conversion. The cluster is amplified by cross-filing context suggesting insider trades often precede material events, though historical performance on FIG shows poor T+20 win rates (25%), tempering conviction.
Key Financial Metrics
Key Facts
- CEO Dylan Field sold 174,430 shares on 2026-05-29 for $4.37M, following a derivative conversion at $0.
- Chief Accounting Officer Herb Tyler sold 1,850 shares on 2026-06-01 for $48,840.
- Total open-market sales in the cluster: ~$4.41M, or ~0.03% of Figma's $12.8B market cap.
- Tax-withholding transactions (non-cash) occurred for 5 executives on 2026-06-01, totaling ~$885K in shares surrendered.
- Director Mamoon Amjad Hamid acquired 5.8M shares via non-cash 'other' transaction on 2026-05-28.
- Historical performance on FIG shows a 25% win rate at T+20 across 8 settled reports, with average alpha of -3.96% vs SPY.
Financial Impact
CEO sale of $4.37M represents ~0.03% of market cap; total cluster open-market sales of $4.41M are trivial relative to $12.8B market cap.
Risk Factors
- CEO sale may signal management's view of overvaluation or upcoming headwinds.
- Tax-withholding transactions are routine and non-informative, but their clustering with CEO sale raises optics.
- Historical T+20 performance on FIG is poor (25% win rate, avg alpha -3.96%), suggesting the stock may not follow bearish signals reliably.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-FIG-1780519089600 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 1, 2026 4w ago | Insider Cluster | $27.20 $21.02 | ▼ −22.72% | ▼ −23.04% | $21.08 (−22.48%) |
Sep 1, 2026 4w ago | Insider Cluster | $27.20 $21.02 | ▼ −22.72% | ▼ −23.04% | $21.08 (−22.48%) |
Aug 12, 2026 7w ago | Insider Cluster | $23.75 $22.14 | ▼ −6.78% | ▼ −4.88% | $21.08 (−11.22%) |
Aug 12, 2026 7w ago | Insider Cluster | $23.75 $22.14 | ▲ +6.78% | ▲ +4.88% | $21.08 (+11.22%) |
Aug 6, 2026 8w ago | Insider Cluster | $23.97 $25.22 | ▲ +5.21% | ▲ +4.62% | $21.08 (−12.04%) |
Aug 6, 2026 8w ago | Insider Cluster | $23.97 $25.22 | ▼ −5.21% | ▼ −4.62% | $21.08 (+12.04%) |
Aug 4, 2026 8w ago | Insider Cluster | $28.15 $25.73 | ▼ −8.60% | ▼ −8.00% | $21.08 (−25.10%) |
Aug 1, 2026 8w ago | Insider Cluster | $24.92 $27.49 | ▼ −10.31% | ▼ −9.07% | $21.08 (+15.39%) |
Jul 31, 2026 8w ago | Insider Cluster | $24.92 $27.49 | ▲ +10.31% | ▲ +9.07% | $21.08 (−15.39%) |
Jul 8, 2026 12w ago | Insider Cluster | $21.67 $28.15 | ▲ +29.90% | ▲ +26.63% | $21.08 (−2.70%) |
US Market Status
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