Insider Selling Amid a Market Slide
Figma Inc. recorded a sizeable sale by General Counsel and Secretary Brendan Mulligan on January 15, 2026, off‑loading 5,666 shares at an average price of $32.02. The deal came a day after the stock fell to $31.55, a 0.12 % dip, and at a time when the company’s weekly decline has already weighed 26.5 %. For investors, the timing is a double‑edged signal: a large sell‑off by a senior executive can reinforce a bearish narrative, yet the transaction itself was executed under a Rule 10b5‑1 plan, indicating that the sale was pre‑arranged and not reactionary to inside information.
What the Move Means for the Shareholder Base
Mulligan’s current holding, 863,387 shares, represents roughly 5.9 % of the outstanding Class A stock. His cumulative sales over the past six months amount to over 100,000 shares, averaging a price above the current market level. While the 10 % threshold for triggering a “big‑block” notification was not crossed, the pattern of consistent selling suggests a strategic divestiture rather than a panic sale. For shareholders, this can be interpreted in two ways: either the executive is rebalancing his portfolio amid broader tech sector volatility, or he is signaling confidence that the long‑term trajectory of Figma’s AI‑driven design platform remains positive, even if the short‑term price is depressed.
Historical Trading Patterns of Brendan Mulligan
A review of Mulligan’s transaction history shows a steady stream of sales from September 2025 through January 2026, with prices ranging from $34.36 to $70.28. The most recent sales occurred at $34.36 and $35.25 on December 15, 2025, and at $36.12 and $37.11 on December 3, 2025, indicating a willingness to lock in gains as the stock rallied into the mid‑$30s. His latest sale at $32.02 is notably below the December highs, reflecting a possible shift to a more defensive stance as the company’s valuation has slipped. Overall, Mulligan’s pattern is consistent with a disciplined 10b5‑1 plan: he sells when the stock is performing well but not in a panic when the price dips.
Investor Takeaway
For investors tracking Figma, the key takeaway is that insider selling, even when executed through a pre‑set plan, can amplify market sentiment during a downtrend. The 357 % social‑media buzz on the day of the sale signals heightened attention, and the +46 sentiment score suggests that the narrative is largely neutral to mildly positive. Analysts should monitor whether further sales by Mulligan or other senior executives follow, as a sustained outflow could erode confidence in the company’s near‑term prospects, even as Figma continues to push new AI‑powered features that could fuel a longer‑term upside.
| Date | Owner | Transaction Type | Shares | Price per Share | Security |
|---|---|---|---|---|---|
| 2026-01-15 | Mulligan Brendan (General Counsel and Secretary) | Sell | 5,666.00 | 32.02 | Class A Common Stock |
