Milotich Michael 4

What Happened
Michael Milotich, CEO of Marqeta, received two equity awards reported on Form 4 dated 2026-03-18 for transactions on 2026-03-16. The filing shows (1) 1,439,544 restricted stock units (RSUs) and (2) 616,947 performance stock units (PSUs), totaling 2,056,491 units. Both awards are recorded at $0.00 (derivative awards convertible into Class A Common Stock upon vesting).

Key Details

• Transaction date: 2026-03-16; Form 4 filed: 2026-03-18 (timely filing).
• Price reported: $0.00 for both awards (derivative awards, no cash paid).
• Total units granted: 1,439,544 RSUs + 616,947 PSUs = 2,056,491 units.
• Shares issued on vesting: each RSU/PSU converts into one share of Class A Common Stock (per footnotes).
• RSU vesting (footnote F2): 1/12th vests on June 1, 2026, then 1/12th of the remaining units vests quarterly on each Sep 1, Dec 1, Mar 1 and Jun 1 thereafter, subject to continued service.
• PSU terms (footnotes F3–F4): PSUs convert one-for-one at target if performance conditions (gross profit and adjusted EBITDA targets) are met; maximum payout is 200% of target, and vesting is also subject to continued service.
• Shares owned after the transaction: not specified in the provided excerpt of the filing.

Context
These are standard executive compensation grants: RSUs deliver shares based on continued service and a set vesting schedule, while PSUs depend on future performance targets (may pay out 0–200% of target). Such awards do not involve an immediate cash purchase or sale and are typical for aligning executive incentives with company performance; they are not a direct market signal like an open-market purchase or sale.