Milotich Michael 4
4 · Marqeta, Inc. · Filed Mar 18, 2026
Research Summary
AI-generated summary of this filing
Marqeta (MQ) CEO Michael Milotich Receives RSU and PSU Awards
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.
Insider Transaction Report
- Award
Restricted Stock Units
[F1][F2]2026-03-16+1,439,544→ 1,439,544 total→ Class A Common Stock (1,439,544 underlying) - Award
Performance Stock Units (Rule of 40)
[F3][F4]2026-03-16+616,947→ 616,947 total→ Class A Common Stock (616,947 underlying)
Footnotes (4)
- [F1]Each restricted stock unit is convertible into one share of Class A Common Stock.
- [F2]One-twelfth (1/12th) of the restricted stock units vest on June 1, 2026 and one-twelfth (1/12th) of the remaining restricted stock units vest quarterly on each September 1, December 1, March 1, and June 1 thereafter until fully vested, subject to the Reporting Person's continued service to the Issuer as of each vesting date.
- [F3]Each performance stock unit is convertible into one share of Class A Common Stock.
- [F4]Represents the number of shares which may be issued at target under the performance stock unit ("PSU") over a period of time following achievement of certain gross profit and adjusted EBITDA targets as set forth in the PSU agreement, subject to the Reporting Person's continued service to the Issuer as of each vesting date. At maximum achievement, 200% of the shares would vest.