Marqeta (MQ) 10% Owner Jason Gardner Converts 270,000 Shares

What Happened Jason M. Gardner (reported as a 10% owner) converted 270,000 derivative/Class B shares into 270,000 shares of Class A common stock on September 14, 2026. The filing records the acquisition of 270,000 Class A shares and the simultaneous disposition of 270,000 derivative securities, with no cash exchanged (price $0; total value $0). The transaction is reported as exempt from Section 16(b) short-swing liability under Rule 16b-6(b).

Key Details

• Transaction date: 2026-09-14; Form 4 filed: 2026-09-16 (timely).
• Reported entries: Acquired 270,000 shares @ $0.00; Disposed (derivative) 270,000 @ $0.00.
• Shares owned after transaction: not disclosed in the supplied filing details.
• Footnotes: F1—exempt under Rule 16b-6(b); F2—shares are held of record by Jason and Jocelyne Gardner as trustees of The Gardner 2008 Living Trust; F3—each Class B share is convertible into one Class A share per the issuer’s charter.
• No tax withholding, open-market sale, or 10b5-1 plan was reported.

Context This was a conversion of derivative/Class B shares into Class A shares rather than a market purchase or sale for cash. Conversions by founders or 10% owners are often administrative (class reclassification or exercise/vesting mechanics) and do not necessarily signal a buy/sell intent. Because the filing is exempt under Rule 16b-6(b) and involves a trust-held position, treat this as a structural ownership change rather than a routine insider buy or sell.