Form 4: Maplebear Director Ravi Gupta Reports Acquisition of Restricted Stock Units

Maplebear Inc. Director and 10% owner Ravi Gupta reported the acquisition of 6,180 restricted stock units (RSUs) on May 22, 2025, as part of his compensation, increasing his total beneficial ownership to over 29 million shares.

Summary

• Ravi Gupta, a Director and 10% owner of Maplebear Inc. (CART), acquired 6,180 shares of common stock in the form of Restricted Stock Units (RSUs) on May 22, 2025.
• These RSUs were granted at a price of $0 and are subject to vesting conditions.
• The RSUs will vest in full on the earlier of the Issuer's next annual meeting of stockholders or the one-year anniversary of the grant date (May 22, 2026), contingent on Mr. Gupta's continued service.
• Following this transaction, Mr. Gupta's direct beneficial ownership stands at 18,577 shares of common stock.
• His indirect beneficial ownership totals 29,033,585 shares through various entities including an Estate Planning Vehicle, Sequoia Grove II, LLC, Sequoia Grove UK, L.P., Sequoia Capital Fund, LP, Sequoia Capital Fund Parallel, LLC, SC US/E Expansion Fund I Management, L.P., Sequoia Capital Global Growth Fund III Endurance Partners, L.P., SCGGF III U.S./India Management, L.P., and Sequoia Capital US/E Expansion Fund I, L.P.
• The total beneficial ownership reported by Mr. Gupta after this transaction is 29,052,162 shares.

Sentiment

Score: 7

Explanation: The acquisition of Restricted Stock Units by a director and significant owner is generally a positive signal, indicating continued alignment of interests and commitment to the company's future performance. It's a standard compensation practice.

Positives

• Acquisition of 6,180 Restricted Stock Units (RSUs) by a Director and 10% owner, Ravi Gupta, aligns his interests with shareholders.
• The grant of RSUs at a $0 price indicates compensation, which is a standard practice for directors.

Risks

• The reporting person disclaims beneficial ownership of securities held by various funds (e.g., Sequoia Capital Fund, LP, Sequoia Capital Fund Parallel, LLC, EXP I Funds, Sequoia Grove II, LLC, Sequoia Grove UK, L.P.) except to the extent of his pecuniary interest, which could imply complex ownership structures and limit direct control over these shares.

Future Outlook

The vesting schedule for the acquired Restricted Stock Units indicates a future commitment of the director to the company, with full vesting contingent on continued service through the earlier of the next annual meeting or May 22, 2026.

Industry Context

This Form 4 filing details a routine insider transaction, specifically the grant of Restricted Stock Units (RSUs) to a director as part of their compensation. Such equity grants are a common practice across industries to align the interests of company leadership with those of shareholders, encouraging long-term commitment and performance.

Corporate Governance

Related Party Transactions

• Ravi Gupta's indirect beneficial ownership includes significant holdings through various Sequoia Capital funds (Sequoia Capital Fund, LP, Sequoia Capital Fund Parallel, LLC, SC US/E Expansion Fund I Management, L.P., Sequoia Capital Global Growth Fund III Endurance Partners, L.P., SCGGF III U.S./India Management, L.P., Sequoia Capital US/E Expansion Fund I, L.P.) and Sequoia Grove entities (Sequoia Grove II, LLC, Sequoia Grove UK, L.P.), where he holds a pecuniary interest or is associated as a stockholder/partner, indicating related party dealings in terms of beneficial ownership.

Stakeholder Impact

• Shareholders: The RSU grant to a director aligns management's interests with shareholder value creation, potentially signaling confidence in future performance.
• Employees: No direct impact mentioned.
• Customers: No direct impact mentioned.
• Suppliers: No direct impact mentioned.
• Creditors: No direct impact mentioned.

Next Steps

• Vesting of the 6,180 Restricted Stock Units (RSUs) on the earlier of Maplebear Inc.'s next annual meeting of stockholders or May 22, 2026, subject to Ravi Gupta's continued service.

Key Dates

Keywords

Maplebear Inc., CART, Ravi Gupta, Form 4, SEC Filing, Insider Transaction, Restricted Stock Units, RSU, Director Compensation, Beneficial Ownership, Sequoia Capital