Cummings Martha 4

What Happened
Martha Cummings, a director of Marqeta, converted/exercised derivative interests that resulted in 36,297 shares being acquired at $0 per share and simultaneously reported a derivative disposition of 36,297 shares (both on 2026-06-10). On the same date she was also granted 52,219 restricted stock units (RSUs) with no cash consideration. The reported transactions indicate acquisition/award activity rather than an open‑market sale.

Key Details

• Transaction date(s): June 10, 2026; filing date: June 11, 2026 (timely).
• Prices and values: exercise/conversion price reported as $0.00; grant reported at $0.00 (no cash paid).
• Instruments: 36,297 shares from a derivative exercise/conversion (transaction code M); 52,219 RSUs awarded (transaction code A). Each RSU converts into one share of Class A common stock (Footnote F2).
• Vesting/terms: some RSUs were originally granted June 12, 2025 and vested in full on June 10, 2026 (F3). Other RSUs vest in full on the earlier of June 10, 2027 or the issuer’s next annual meeting, subject to continued service (F4).
• Exemption: transactions are reported as exempt from short‑swing profit rules under Rule 16b‑6(b) (F1).
• Shares owned after the transactions: not disclosed in the provided summary of the filing.

Context
This filing records a conversion/exercise of derivative interests and a grant of RSUs — actions that increase potential long‑term equity exposure rather than representing a sale. Because the exercise/conversion and grant show $0 consideration and include vesting language, they likely reflect routine director compensation and previously granted awards rather than an open‑market purchase or disposition.