Maplebear (CART) CLO Fong Morgan Exercises Options, Sells 18,390 Shares

What Happened

• Fong Morgan, Maplebear Inc.'s (CART) Chief Legal Officer, exercised 18,390 stock options at $7.32 per share (total exercise cost ~$134,615) and immediately sold the same 18,390 shares in the open market for a weighted-average price of $44.34 per share (total proceeds ~$815,398) on July 22, 2026. The option exercised is fully vested.

Key Details

• Transaction date: July 22, 2026 (Form filed July 24, 2026 — appears timely).
• Exercise: 18,390 shares at $7.32 each — cash paid ~$134,615.
• Sale: 18,390 shares at weighted-average $44.34 — gross proceeds ~$815,398; sale prices ranged $43.90–$44.73 per share.
• Derivative entry: the filing also shows a $0.00 disposition of 18,390 shares (derivative line) reported in the Form 4.
• Footnotes: Transactions were effected under a Rule 10b5-1 trading plan adopted Dec 10, 2025; the option is fully vested. The filer can provide per-share sale price breakdowns on request.
• Shares owned after the transaction: not specified in the data provided.

Context

• This was an exercise followed by an immediate open-market sale (often called a cashless exercise or sell-to-cover) rather than a buy signal; the insider converted options into stock and sold them under a prearranged 10b5-1 plan. The $0.00 derivative line is commonly used in filings to reflect share surrender/settlement related to the exercise or tax withholding and does not represent an additional cash transaction.