Khan Salman Hassan 4
4 · MARA Holdings, Inc. · Filed Feb 19, 2026
Research Summary
AI-generated summary of this filing
MARA CFO Khan Salman Hassan Sells 16,000 Shares, Receives 509,119 PSUs
What Happened Khan Salman Hassan, Chief Financial Officer of MARA Holdings, sold 16,000 shares in an open-market/private sale on Feb 17, 2026 at $7.66 per share for proceeds of $122,560. The next day (Feb 18, 2026) he was credited with 509,119 performance-vested restricted stock units (PSUs) earned under a 2025 award; those PSUs were reported with a $0 acquisition price and remain subject to time-based vesting conditions.
Key Details
- Sale: 16,000 shares on 2026-02-17 at $7.66 — proceeds $122,560. Reported as a sale (S).
- Award: 509,119 PSUs reported on 2026-02-18 (A); acquisition price $0 because these are earned performance awards.
- PSU background: Award granted Feb 28, 2025 under the 2018 Equity Incentive Plan; PSUs were earned based on issuer performance (hashrate hours, total exahash, deployed megawatts) for the 2025 performance period and certified by the board committee on Feb 18, 2026. PSUs still subject to time-based vesting per the award agreement.
- Plan/ownership notes: The Feb 17 sale was executed under a Rule 10b5-1 trading plan adopted by Mr. Khan on Sept 11, 2025 (pre-established plan). The filer and spouse are trustees of the S & N Khan Family Trust; immediate family are trust beneficiaries.
- Shares owned after transaction: not specified in the provided filing excerpt.
- Timeliness: Form filed Feb 19, 2026 covering transactions on Feb 17–18, 2026 (appears timely; no late-file flag noted).
Context
- The sale was executed under a 10b5-1 plan, which is a pre-arranged trading program and is typically used to establish trades that are not based on current, nonpublic information.
- The PSUs are performance-based awards that were earned for 2025 performance metrics but still must meet time-based vesting before becoming unrestricted shares; this award is not an immediate cash purchase.
- As always, insider sales do not necessarily signal negative views; purchases generally carry more direct bullish signal for retail investors.
Insider Transaction Report
Form 4
Khan Salman Hassan
Chief Financial Officer
Transactions
- Sale
Common Stock
[F1][F2]2026-02-17$7.66/sh−16,000$122,560→ 359,165 total(indirect: By Trust) - Award
Common Stock
[F3]2026-02-18+509,119→ 1,534,199 total
Footnotes (3)
- [F1]The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 11, 2025.
- [F2]The reporting person and his spouse are trustees of the S & N Khan Family Trust, and members of the reporting person's immediate family are the sole beneficiaries of the trust.
- [F3]Represents the number of performance-vested restricted stock units ("PSUs") earned by the reporting person pursuant to an award granted on February 28, 2025 under the issuer's Amended and Restated 2018 Equity Incentive Plan, as amended, and the related award agreement. The PSUs were subject to issuer performance goals based on hashrate hours, total exahash and deployed megawatts over the performance period beginning January 1, 2025 and ending on December 31, 2025. On February 18, 2026, the Talent, Culture and Compensation Committee of the issuer's Board of Directors certified the level of achievement of the applicable performance goals, resulting in the reporting person earning 509,119 PSUs. The earned PSUs remain subject to the applicable time-based vesting conditions set forth in the award agreement.
Signature
/s/ Zabi Nowaid, Attorney-in-Fact for Salman Khan|2026-02-19