Form 4: Marqeta Executive Crystal Sumner Reports Stock Transactions

Crystal Sumner, a Marqeta executive, reports the vesting and tax withholding of restricted stock units.

Summary

• On September 1, 2024, Crystal Sumner, Chief Administrative Officer and Corporate Secretary of Marqeta, Inc., reported transactions involving Class A Common Stock.
• These transactions included the vesting of 27,319 and 36,859 restricted stock units, which converted into Class A Common Stock.
• Shares were also withheld by Marqeta to cover tax obligations related to the vesting of these restricted stock units, with 13,846 and 18,681 shares withheld at a price of $5.11.
• Following these transactions, Sumner directly owns 129,477 shares of Class A Common Stock, 273,185 restricted stock units from the first transaction, and 368,586 restricted stock units from the second transaction.

Sentiment

Score: 5

Explanation: This is a neutral report of stock transactions, with no inherent positive or negative sentiment.

Industry Context

This is a routine disclosure related to executive compensation and stock-based awards, common in publicly traded companies.

Comparison to Industry Standards

• Stock-based compensation is a common practice in the tech industry, used to attract and retain talent.
• Companies like Block (formerly Square), PayPal, and Adyen also utilize restricted stock units as part of their compensation packages.
• The vesting schedules and tax withholding practices described are standard across the industry.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they relate to executive compensation and do not represent a significant change in the company's financial position.

Key Dates