Pre-IPO Advisors

Figma employees: the IPO was the easy part

Figma went public in mid-2025 (NYSE: FIG). For employees, that converted a paper position into three very real problems: the tax bill from RSUs settling at once, a volatile public price on most of your net worth, and — now that the standard lockup is behind you — the question nobody answers for you: how fast do I diversify?

What changed at the IPO

  • Double-trigger RSUs settled. Pre-IPO RSU grants typically required both vesting and a liquidity event; the IPO was the second trigger. Settled shares are ordinary income at the price on settlement day — often a year's salary or more landing on one W-2.
  • Withholding usually undershoots. Standard supplemental withholding (22% federal up to $1M) is routinely below a Figma-sized settlement's real marginal rate. Many employees owe a large April balance plus estimated payments — confirm yours before spending proceeds.
  • The lockup has expired. Standard post-IPO lockups run about six months; for a mid-2025 IPO that window is behind you. Selling is now a choice, which is harder than a restriction.
  • Ongoing vesting continues. New vests are taxed as they settle at current prices, and employees with material nonpublic information windows often use 10b5-1 plans to sell on a pre-set schedule.
  • 2026 has been a reality check. FIG has traded well below its post-IPO highs (reported down roughly 40% year-to-date as of mid-June 2026). That cuts both ways: it's the case for glidepaths in one chart — and it puts some RSU lots at harvestable losses while resetting others' clocks.

Your grant terms, dates, and tax facts are your own — verify against your equity portal and W-2. This page is educational; this site is not affiliated with or endorsed by Figma.

The post-lockup playbook

  1. Decide your concentration target. Not "should I sell" but "what % of my net worth should one volatile stock be?" Specialists commonly land households between 10–25% — your number depends on goals, age, and the rest of the balance sheet.
  2. Set a glidepath, not a guess. A scheduled selling cadence (e.g., quarterly tranches, or a 10b5-1 if you're exposed to MNPI windows) beats timing instincts — it removes the "what if it doubles after I sell" paralysis by deciding once.
  3. Mind the lots. Settled RSU shares have basis = settlement-day price; some lots may be at a loss (harvestable), others at gains approaching long-term treatment. Lot selection changes the tax bill on every sale.
  4. Don't let the tax tail wag the risk dog. Waiting for long-term treatment on an 80%-of-net-worth position is risking the portfolio to save a rate spread. Model both; choose deliberately.
  5. Put the proceeds to work in a plan — diversified portfolio, cash runway, charitable lots (appreciated shares are the best giving asset), and next year's estimated taxes.

Just researching FIG stock?

This page is for employees and holders planning a position, not a buy/sell recommendation on the stock. For tender-offer-stage companies, start at the tender guide or see SpaceX and OpenAI.

Concentrated in FIG? Get the glidepath modeled.

Get matched with a fee-only fiduciary who works post-IPO positions — concentration targets, 10b5-1 design, lot strategy, and estimated taxes. Free, no obligation.