Form 4: Marqeta Officer Michael Milotich Reports Stock Transactions
SEC Form 4
Michael Milotich, an officer at Marqeta, Inc., reported the vesting and subsequent tax withholding of Class A Common Stock and Restricted Stock Units on March 1, 2025.
Summary
- On March 1, 2025, Michael Milotich, an officer at Marqeta, Inc., engaged in multiple transactions involving Class A Common Stock and Restricted Stock Units.
- These transactions included the vesting of Restricted Stock Units and Performance Stock Units, as well as the withholding of shares to cover tax obligations.
- The vesting of Performance Stock Units was based on the achievement of certain gross profit and adjusted EBITDA targets.
- The price per share for tax withholding purposes was $4.13.
- Following these transactions, Milotich directly owns 601,889 shares of Class A Common Stock.
- Milotich also holds 119,421 Performance Stock Units (Gross Profit) and 51,180 Performance Stock Units (Adjusted EBITDA).
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to stock transactions by an officer. It doesn't contain any information that would significantly impact investor sentiment positively or negatively.
Future Outlook
The reporting person's holdings will change as restricted stock units and performance stock units continue to vest over time, subject to continued service and achievement of performance targets.
Industry Context
This filing is a routine disclosure related to executive compensation and stock-based awards, common in publicly traded companies. It provides transparency into the holdings and transactions of company insiders.
Comparison to Industry Standards
- Stock-based compensation is a common practice in the tech industry to incentivize and retain key employees.
- The vesting schedules and performance-based awards described are typical compensation structures.
- Comparable companies like Block, PayPal, and Adyen also utilize stock options and restricted stock units as part of their compensation packages.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders.
- They reflect the ongoing compensation and incentives for company leadership.
Key Dates
| Date | Description |
|---|---|
| 03/01/2023 | Initial vesting date for some restricted stock units. |
| 06/01/2024 | Initial vesting date for some restricted stock units. |
| 03/15/2024 | Date performance share awards were granted to the Reporting Person. |
| 03/01/2025 | Date of the reported transactions, including vesting of stock units and tax withholding. |
| 03/04/2025 | Date of the Form 4 filing. |
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