Software companies are facing a crisis of confidence on Wall Street and trying increasingly aggressive strategies to address it.
The latest example came when Figma Inc. Chief Executive Officer Dylan Field turned down around $46 million in stock awards earlier this month, citing the dilutive impact they would have on shareholders. It echoed actions from ServiceNow Inc. and Intuit Inc. earlier this year — both firms’ executive teams made coordinated announcements that they wouldn’t sell any stock in the foreseeable future.