Form 4: MARA CFO Sells Shares Under 10b5-1 Plan

MARA Holdings' Chief Financial Officer, Salman Hassan Khan, sold 34,732 shares of common stock for $16.24 per share under a pre-arranged 10b5-1 trading plan.

Summary

• Chief Financial Officer Salman Hassan Khan sold 34,732 shares of MARA Holdings, Inc. common stock.
• The transaction occurred on September 15, 2025, at a price of $16.24 per share.
• The sale was executed under a Rule 10b5-1 trading plan established on March 14, 2025.
• Following the sale, Khan directly owns 1,368,613 shares and indirectly owns 318,428 shares through the S & N Khan Family Trust, totaling 1,687,041 shares.

Sentiment

Score: 4

Explanation: The Chief Financial Officer's sale of shares, while executed under a pre-arranged 10b5-1 plan, is generally perceived as a slightly negative signal by the market, as it reduces insider ownership. However, the pre-planned nature mitigates concerns of opportunistic selling based on new, undisclosed negative information.

Positives

• The sale was conducted under a Rule 10b5-1 trading plan, which enhances transparency and provides an affirmative defense against insider trading allegations for pre-scheduled transactions.

Negatives

• Chief Financial Officer Salman Hassan Khan sold 34,732 shares of common stock, which can be perceived as a slight negative signal by some investors, even if pre-planned.

Future Outlook

NA

Industry Context

NA

Corporate Governance

Related Party Transactions

• The S & N Khan Family Trust, where the reporting person and spouse are trustees and immediate family are beneficiaries, indirectly holds 318,428 shares of MARA common stock.

Stakeholder Impact

• Shareholders may interpret the insider sale as a slight negative signal, though mitigated by the 10b5-1 plan, which indicates the sale was pre-scheduled and not based on new, undisclosed information.

Key Dates

Keywords

MARA, MARA Holdings, insider trading, Form 4, Salman Khan, CFO, stock sale, 10b5-1 plan