Fong Morgan 4
4 · Maplebear Inc. · Filed May 19, 2026
Research Summary
AI-generated summary of this filing
Maplebear (CART) Chief Legal Officer Fong Morgan Sells Shares
What Happened
Fong Morgan, Chief Legal Officer of Maplebear Inc. (CART), disposed of a total of 29,931 shares for aggregate proceeds of approximately $1,172,012. The activity includes 15,898 shares withheld to cover tax withholding on vested restricted stock units (RSUs) at $38.47 each (proceeds $611,596) and two open-market sales on May 18, 2026 of 12,575 shares (weighted avg price $39.88; proceeds $501,521) and 1,458 shares (weighted avg price $40.39; proceeds $58,895). These are sales (not purchases).
Key Details
- Transaction dates and prices:
- 2026-05-15: 15,898 shares withheld for taxes at $38.47 — $611,596 (F-code: tax withholding on RSUs)
- 2026-05-18: 12,575 shares sold open-market at weighted avg $39.88 — $501,521 (range $39.34–$40.3150)
- 2026-05-18: 1,458 shares sold open-market at weighted avg $40.39 — $58,895 (range $40.34–$40.47)
- Total shares disposed: 29,931; total proceeds: ~$1.17 million.
- Shares owned after the transactions: not specified in the information provided in this summary (see the Form 4 for beneficial ownership totals).
- Notable footnotes:
- F1: Shares withheld to satisfy tax obligations on RSU vesting.
- F2: Open-market sales were made pursuant to a Rule 10b5-1 trading plan adopted Dec 10, 2025.
- F3/F4: Reported prices are weighted averages; detailed per-price breakdowns are available upon request per the filing.
- Filing: Form 4 filed 2026-05-19 reporting transactions on 2026-05-15 and 2026-05-18 — appears timely (filed within the standard two-business-day reporting window).
Context
Tax-withholding dispositions on RSU vesting (F-code) are routine and reflect an employee satisfying tax obligations rather than an active market sell decision. The open-market sales were executed under a pre-established 10b5-1 plan, which is commonly used to provide an affirmative defense for scheduled insider sales. Sales do not necessarily indicate management sentiment about the company; they reduce insider shareholdings but are different from discretionary purchases, which investors often view as a stronger signal.
Insider Transaction Report
- Tax Payment
Common Stock
[F1]2026-05-15$38.47/sh−15,898$611,596→ 558,111 total - Sale
Common Stock
[F2][F3]2026-05-18$39.88/sh−12,575$501,521→ 545,536 total - Sale
Common Stock
[F2][F4]2026-05-18$40.39/sh−1,458$58,895→ 544,078 total
Footnotes (4)
- [F1]Represents shares withheld to satisfy tax withholding obligations upon the vesting of restricted stock units.
- [F2]The reported sales were effected pursuant to a Rule 10b5-1 trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c), adopted on December 10, 2025.
- [F3]The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $39.34 to $40.3150 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F4]The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $40.34 to $40.47 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.