Nowaid Zabi 4

What Happened Nowaid Zabi, General Counsel of MARA Holdings, received an award of 203,648 performance-vested restricted stock units (PSUs) on February 18, 2026. The filing shows an acquisition at $0.00 (no cash paid). These PSUs were certified as earned by the board committee but remain subject to the award's time-based vesting conditions.

Key Details

• Transaction date and type: 2026-02-18 — Award/acquisition of 203,648 PSUs (transaction code A), reported 2026-02-19.
• Price and value: $0.00 per share; total cash consideration listed = $0.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnote summary (F1): These PSUs were granted Feb 28, 2025 and were earned based on issuer performance goals (hashrate hours, total exahash, deployed megawatts) for the 2025 performance period. The Talent, Culture and Compensation Committee certified achievement on Feb 18, 2026. Earned PSUs still subject to the award's time-based vesting schedule.
• Filing timeliness: Report filed the next day (period of report 2/18/2026; filing 2/19/2026) — not indicated as late.

Context PSUs are performance-conditional restricted stock units: they become payable only after meeting performance metrics and then still vest over time per the award agreement. This award is not a market purchase or sale and does not generate immediate proceeds; it reflects compensation tied to company performance metrics rather than an insider cash investment or divestiture.