Figma Inc.’s Dylan Field has already cemented a billion-dollar fortune with this week’s planned initial public offering. But he could be looking at another 10-figure payday, thanks to a tranched compensation package similar to Elon Musk’s.

Key Takeaways Figma CEO Dylan Field stands to be very wealthy if he can hit the marks outlined in his pay package.The design software maker's trading debut puts big awards within reach.Field could make $1.

The big opening pop is the latest indication that the tech IPO market has reopened following a multiyear lull that began in early 2022.

Figma's $1.22-billion offering, the fourth-largest U.S. IPO of the year, is being seen as a potential catalyst for other startups eyeing a flotation after a three-year freeze in the tech listings market.

The price for design software developer Figma surged more than 250% on Thursday to close at over $117 per share after raising over $1.2 billion in an IPO, well over three times the $30-$32 range the company estimated in SEC filings earlier this week—making its 33-year-old CEO Dylan Field a billionaire.

Graphic design software maker Figma Inc. priced its initial public offering at $33 per share today, a buck above the expected range, raising more than $1.2 billion. The San Francisco-based company and several existing investors sold 36.

At more than $19 billion, the design-software company’s initial market cap priced well above its private valuation, a welcome scenario for venture investors