Milotich Michael 4

What Happened

• Michael Milotich, Chief Executive Officer of Marqeta, converted 254,958 restricted stock units (RSUs) into 254,958 shares on March 9, 2026 (exercise/conversion, code M). No exercise price was paid ($0.00 per share).
• To satisfy tax withholding, 139,473 of those shares were withheld/disposed at an imputed price of $4.08 per share, totaling approximately $569,050 (code F). The net shares received by Milotich were 115,485 shares (254,958 issued minus 139,473 withheld).
• This was a net-settlement tax withholding in connection with vested RSUs (not an open-market sale).

Key Details

• Transaction date: 2026-03-09; Form filed: 2026-03-11 (appears timely).
• Conversion: 254,958 RSUs -> 254,958 shares; Exercise price: $0.00.
• Tax withholding: 139,473 shares withheld at $4.08/share = $569,050.
• Net shares issued to insider: 115,485.
• Shares owned after transaction: not disclosed in the filing.
• Footnotes: withholding represents issuer net settlement of vested RSUs (not a market sale) and transaction exemptions cited under Rule 16b-3(e) and Rule 16b-6(b). Each RSU converts 1:1 into Class A common stock. Vesting terms reference a schedule tied to the appointment of a new CEO and potential accelerated vesting upon certain terminations.

Context

• This was a conversion/settlement of vested RSUs with shares withheld to cover taxes (a common administrative step), not an open-market sale or a cash purchase. For retail investors, purchases can be more indicative of bullish intent; net-settlement withholding is routine and reflects tax obligations rather than a decision to sell shares on the market.