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 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.

Figma (FIG) stock seesawed on Friday, up as much as 7% before giving up gains and flipping into negative territory in the first 20 minutes of trading. Friday's moves come after shares in Figma rocketed upward by 250% in Thursday's blockbuster public market debut.

Figma Inc. raised $1.2 billion with an initial public offering on Thursday, with shares trading for $33, which increased its market share to $19.3 billion.

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.