Form 4: MARA General Counsel Reports Routine Stock Disposition

MARA Holdings' General Counsel, Zabi Nowaid, reported the disposition of common stock to cover tax liabilities related to restricted stock unit vesting.

Summary

• Zabi Nowaid, General Counsel of MARA Holdings, Inc., reported changes in beneficial ownership of common stock.
• On October 31, 2025, 13,753 shares of common stock were disposed of at a price of $17.76 per share.
• On November 3, 2025, an additional 9,981 shares of common stock were disposed of at a price of $18.27 per share.
• These dispositions were specifically to cover the reporting person's tax liability in connection with the vesting of restricted stock units.
• The transactions were explicitly stated not to be open market sales by the reporting person.
• Following these reported transactions, Zabi Nowaid beneficially owns 757,376 shares of MARA Holdings, Inc. common stock directly.

Sentiment

Score: 5

Explanation: The filing reports a routine insider transaction for tax purposes, which typically has no material impact on the company's fundamentals or market perception. It is a standard administrative event related to executive compensation.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Management Comments

• Shares of the issuer's common stock were withheld to cover the reporting person's tax liability in connection with the vesting of restricted stock units.
• This transaction was not an open market sale by the reporting person.

Industry Context

Insider transactions, particularly those involving the withholding of shares for tax purposes related to equity compensation, are a common and routine occurrence across publicly traded companies. Such transactions typically do not reflect a change in an insider's sentiment about the company's future prospects but rather an administrative aspect of compensation.

Stakeholder Impact

• Shareholders: Minimal impact, as these are routine tax-related dispositions and not discretionary sales indicating a change in insider sentiment.
• Employees: No direct impact beyond the reporting person's compensation structure.

Key Dates

Keywords

MARA Holdings, MARA, Zabi Nowaid, Form 4, insider transaction, beneficial ownership, stock disposition, tax withholding, restricted stock units, General Counsel