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Marqeta (MQ) CFO receives large RSU and performance stock unit awards

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Kangwankij Patti reported acquisition or exercise transactions in this Form 4 filing.

Marqeta, Inc. Chief Financial Officer Patti Kangwankij received new equity awards in the form of restricted and performance stock units. The grant includes 1,474,231 restricted stock units, each convertible into one share of Class A Common Stock. One-third of these units vest on March 1, 2027, with the remainder vesting in equal quarterly installments thereafter, subject to continued service.

She also received 631,813 performance stock units tied to “Rule of 40” gross profit and adjusted EBITDA targets. This figure reflects the target number of shares, with up to 200% of that amount eligible to vest upon maximum achievement of the performance goals and continued service over the performance period.

Positive

  • None.

Negative

  • None.
Insider Kangwankij Patti
Role Chief Financial Officer
Type Security Shares Price Value
Grant/Award Restricted Stock Units 1,474,231 $0.00 --
Grant/Award Performance Stock Units (Rule of 40) 631,813 $0.00 --
Holdings After Transaction: Restricted Stock Units — 1,474,231 shares (Direct); Performance Stock Units (Rule of 40) — 631,813 shares (Direct)
Footnotes (1)
  1. Each restricted stock unit is convertible into one share of Class A Common Stock. One-third (1/3rd) of the restricted stock units vest on March 1, 2027, and an additional one-twelfth (1/12th) of the restricted stock units vest on each June 1, September 1, December 1, and March 1 thereafter until fully vested, subject to the Reporting Person's continued service with the Issuer as of each vesting date. Each performance stock unit is convertible into one share of Class A Common Stock. 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.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Kangwankij Patti
(Last)(First)(Middle)
180 GRAND AVENUE
6TH FLOOR
(Street)
OAKLAND CALIFORNIA 94612
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Marqeta, Inc. [ MQ ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
Chief Financial Officer
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
03/16/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Units(1)03/16/2026A1,474,231 (2) (2)Class A Common Stock1,474,231$01,474,231D
Performance Stock Units (Rule of 40)(3)03/16/2026A631,813 (4) (4)Class A Common Stock631,813$0631,813D
Explanation of Responses:
1. Each restricted stock unit is convertible into one share of Class A Common Stock.
2. One-third (1/3rd) of the restricted stock units vest on March 1, 2027, and an additional one-twelfth (1/12th) of the restricted stock units vest on each June 1, September 1, December 1, and March 1 thereafter until fully vested, subject to the Reporting Person's continued service with the Issuer as of each vesting date.
3. Each performance stock unit is convertible into one share of Class A Common Stock.
4. 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.
Remarks:
/s/ Tracy Foard, Attorney-in-Fact03/18/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What equity awards did Marqeta (MQ) grant to CFO Patti Kangwankij?

Marqeta granted Patti Kangwankij 1,474,231 restricted stock units and 631,813 performance stock units. Each unit is convertible into one share of Class A Common Stock, aligning her compensation with company performance and long-term shareholder value creation.

How do Patti Kangwankij’s restricted stock units at Marqeta (MQ) vest?

One-third of the 1,474,231 restricted stock units vest on March 1, 2027. The remaining units vest in equal installments each June 1, September 1, December 1, and March 1 afterward, conditioned on her continued service with Marqeta at each vesting date.

What performance conditions apply to Marqeta (MQ) performance stock units granted to the CFO?

The 631,813 performance stock units vest based on gross profit and adjusted EBITDA targets set in the PSU agreement. This target number can increase up to 200% at maximum achievement, provided Patti Kangwankij continues serving Marqeta through the applicable vesting dates.

How many Marqeta (MQ) shares could the CFO receive from performance stock units at maximum performance?

At target, 631,813 shares of Class A Common Stock may be issued under the performance stock units. If the specified gross profit and adjusted EBITDA goals are achieved at maximum levels, up to 200% of that share amount would vest over time.

Are Marqeta (MQ) CFO equity awards open-market stock purchases?

No, these are compensation-related grants, not open-market purchases. The Form 4 shows restricted stock units and performance stock units awarded at no cash price, vesting over time and subject to service and performance conditions rather than immediate cash transactions.