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Maplebear Inc.·4

May 19, 4:04 PM ET

Fong Morgan 4

Research Summary

AI-generated summary

Updated

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.