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

What Happened
Fong Morgan, Chief Legal Officer of Maplebear Inc. (CART), exercised 18,390 stock options on Aug 24, 2026, paying $7.32 per share (total cost ~$134,615). The same 18,390 shares were sold that day in two blocks for a combined proceeds of roughly $918.8K — 14,091 shares at a weighted avg $49.81 and 4,299 shares at a weighted avg $50.47. These sales are typically routine disposition activity rather than a purchase/endorsement.

Key Details

• Transaction date: August 24, 2026 (Form 4 filed Aug 26, 2026 — timely)
• Exercise: 18,390 shares acquired at $7.32/share (total ~$134,615). Option fully vested (footnote F4).
• Sales: 14,091 shares at weighted avg $49.81 (proceeds $701,811; prices ranged $49.22–$50.18 per F2); 4,299 shares at weighted avg $50.47 (proceeds $216,991; prices ranged $50.25–$50.63 per F3). Total proceeds ≈ $918,802–$918,803.
• Plan/Notes: Sales were effected pursuant to a Rule 10b5-1 trading plan adopted Dec 10, 2025 (footnote F1). The filing shows a separate derivative "disposed" entry at $0 for 18,390 shares (see filing) and the reporting person offers to provide breakdowns of sale prices on request.
• Shares owned after the transactions: not disclosed in this filing.

Context

• This was an exercise of vested options (code M) followed by sales of the resulting shares; such a pattern can be a cashless or planned disposition to cover exercise and tax obligations. The sales were executed under a pre-established 10b5-1 plan, which generally indicates pre-planned, rule-compliant disposals rather than opportunistic trading.