Sumner Crystal 4

What Happened

• Sumner Crystal, Chief Administrative Officer and Corporate Secretary of Marqeta, sold 5,055 shares in an open-market transaction on 2026-03-16 for a weighted-average price of $3.98 (total ≈ $20,126).
• On the same date Crystal was granted 693,756 restricted stock units (RSUs) and 297,324 performance stock units (PSUs) (total ≈ 991,080 derivative units) at $0.00 (awards/derivatives), each convertible into one share of Class A common stock.

Key Details

• Transaction date: 2026-03-16. Sale weighted average price: $3.98; reported sale prices ranged $3.96–$4.02 (report notes full breakdown available on request). Total proceeds from sale ≈ $20,126.
• Awards: 693,756 RSUs (convertible 1:1) and 297,324 PSUs (convertible 1:1). PSUs vest based on achievement of gross profit and adjusted EBITDA targets; at maximum achievement up to 200% of target shares may vest.
• Vesting schedule (RSUs): 1/12 vest on June 1, 2026, then 1/12 of the remainder vests quarterly on Sep 1, Dec 1, Mar 1 and Jun 1 thereafter, subject to continued service.
• Shares owned after the reported transactions: not specified in the provided excerpt.
• Filing: Form 4 filed 2026-03-18 for transactions on 2026-03-16 — filed within the SEC’s typical two-business-day window.

Context

• The sale was a modest open-market disposition (cash realized ≈ $20k). The larger items were awards (RSUs and performance-based PSUs), which are derivative grants that convert to common shares only if/when vested and performance conditions are met; these do not represent an immediate market purchase.
• For retail investors: purchases or conversions into actual shares are generally more directly bullish signals than routine sales or grant awards. These entries are factual reporting of compensation and a small sale, not a direct statement of intent or future company performance.