Nowaid Zabi 4

What Happened
Nowaid Zabi, General Counsel of MARA Holdings, was granted 197,919 restricted stock units (RSUs) on February 20, 2026. The grant is reported as an award (code A) at $0.00 per share (no cash exchanged). Each RSU is a contingent right to receive one share of MARA common stock upon vesting; the RSUs vest in eleven substantially equal quarterly installments from April 1, 2026 through December 31, 2028, subject to Zabi’s continued service (see footnote F1).

Key Details

• Transaction date: 2026-02-20; Form 4 filed Feb 20, 2026 (appears timely).
• Grant: 197,919 RSUs reported at $0.00 (award).
• Vesting: 11 substantially equal quarterly installments from 4/1/2026 to 12/31/2028, contingent on continued service (footnote F1).
• Each RSU = contingent right to one share on vesting.
• Shares owned after the transaction: not specified in the filing.
• No 10b5-1 plan, tax-withholding, or sale noted in this filing.

Context
RSUs are a form of equity compensation that convert to actual shares only as they vest; their ultimate dollar value depends on MARA’s stock price at each vesting date. This grant is an award/compensation event (not an open‑market purchase or sale) and does not by itself indicate immediate insider buying or selling.