Form 4: Marqeta Executive Crystal Sumner Reports Stock Transactions

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

Summary

• On March 1, 2024, Crystal Sumner, Chief Administrative Officer and Corporate Secretary of Marqeta, Inc., reported transactions involving Class A Common Stock and Restricted Stock Units.
• 109,274 Restricted Stock Units vested and were converted into Class A Common Stock.
• The vesting of these units is exempt from Section 16(b) of the Securities Exchange Act of 1934.
• 43,099 shares were withheld by Marqeta to cover tax obligations related to the vested restricted stock units at a price of $6.4, which is also exempt from Section 16(b) of the Act.
• Following these transactions, Sumner directly owns 66,175 shares of Class A Common Stock and 327,822 Restricted Stock Units.
• The restricted stock units vest in installments, with one-fourth vesting on March 1, 2024, and the remainder vesting in smaller portions quarterly thereafter, contingent upon continued service with Marqeta.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing related to executive compensation. It doesn't inherently indicate positive or negative sentiment about the company's performance.

Future Outlook

The remaining restricted stock units will continue to vest quarterly, contingent upon continued service with Marqeta.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into insider transactions, allowing investors to monitor the buying and selling activities of company executives and directors.

Stakeholder Impact

• Shareholders can monitor insider transactions for insights into management's perspective on the company's stock.

Key Dates