Form 4: Maplebear Director Sells Shares, Forfeits RSUs

Maplebear Inc. Director Fidji Simo sold 7,140 shares of common stock under a 10b5-1 plan and forfeited over 1.2 million unvested restricted stock units following her resignation as CEO and President.

Summary

• Fidji Simo, a Director of Maplebear Inc. (CART), reported transactions in common stock.
• Sold 3,739 shares of common stock at a weighted average price of $47.0555 per share on September 15, 2025.
• Sold an additional 3,401 shares of common stock at a weighted average price of $47.5752 per share on September 15, 2025.
• These sales were executed pursuant to a Rule 10b5-1 trading plan adopted on November 20, 2024.
• Following these transactions, Fidji Simo beneficially owns 573,807 shares of common stock.
• Forfeited 1,257,102 unvested restricted stock units in connection with her resignation as Chief Executive Officer and President.

Sentiment

Score: 4

Explanation: The forfeiture of over 1.2 million unvested restricted stock units due to the reporting person's resignation as CEO and President is a negative event, indicating a significant loss of potential equity value for the individual and a change in leadership for the company. The stock sales, while routine under a 10b5-1 plan, do not offset this negative impact.

Negatives

• Fidji Simo forfeited 1,257,102 unvested restricted stock units due to her resignation as Chief Executive Officer and President, representing a significant loss of potential equity compensation.

Future Outlook

No forward-looking statements or guidance are provided in this insider transaction report.

Management Comments

• The reported sales were effected pursuant to a Rule 10b5-1 trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c), adopted on November 20, 2024.
• The forfeiture of 1,257,102 unvested restricted stock units occurred in connection with the Reporting Person's resignation as the Issuer's Chief Executive Officer and President.

Industry Context

This Form 4 filing reports routine insider stock sales under a pre-arranged trading plan and the financial consequence of a past executive resignation. Such filings are common for publicly traded companies and provide transparency into insider holdings and transactions, but do not typically offer broader industry trend analysis.

Management Changes

Stakeholder Impact

• Shareholders: The forfeiture of 1,257,102 unvested restricted stock units by the former Chief Executive Officer and President, Fidji Simo, impacts the company's equity structure and signals a significant leadership transition.

Key Dates

Recommendation

The filing reports insider stock sales executed under a pre-planned 10b5-1 program, which are generally routine. However, the significant forfeiture of over 1.2 million unvested restricted stock units by Fidji Simo, explicitly linked to her resignation as Chief Executive Officer and President, is a notable negative event. While the resignation itself would have been announced previously, this filing confirms the financial impact on the former CEO. Investors should monitor the company's performance under new leadership and any strategic shifts, making a 'hold' recommendation appropriate until further clarity emerges.

Keywords

Maplebear, CART, Fidji Simo, Form 4, insider trading, stock sale, 10b5-1 plan, restricted stock units, RSU forfeiture, director, CEO resignation