MELLINGER DOUGLAS K 4

What Happened

• Douglas K. Mellinger, a director of MARA Holdings, Inc. (MARA), was granted 82,759 restricted stock units (RSUs) on February 13, 2026. The Form 4 reports an acquisition price of $0.00, which is standard for RSU awards; the award represents a contingent right to receive common shares if and when the RSUs vest.
• The RSUs will vest in full on January 31, 2027, subject to Mellinger’s continued service to the company as of that vesting date.

Key Details

• Transaction date: 2026-02-13; Transaction type: Award/Grant (code A).
• Shares/units granted: 82,759 RSUs; reported acquisition price: $0.00.
• Vesting: Entire grant vests 2027-01-31, contingent on continued service (per footnote).
• Shares owned after the transaction: not specified in the provided filing.
• Filing timeliness: Report filed on 2026-02-13 (period of report 2026-02-13), indicating a timely disclosure.

Context

• RSUs are a form of equity compensation that convert to actual shares only upon vesting; there is typically no cash outlay at grant. They do not represent an immediate purchase or sale and are often part of routine director compensation.
• Because this is an award (not a purchase or sale), it should be viewed as compensation, not a direct bullish or bearish trading signal.