CART Form 4: Chris Rogers Granted 324,816 RSUs with Quarterly Vesting

Rhea-AI Filing Summary

Maplebear Inc. (CART) insider grant: Chris Rogers, the company's President, CEO and a director, was awarded 324,816 restricted stock units (RSUs) on 09/15/2025 at no cash price. After the grant he beneficially owns 749,139 shares of common stock. The RSUs vest with 8% vesting on November 15, 2025 and the remaining units vest in eight equal quarterly installments thereafter, all subject to continued service through each vesting date. The Form 4 was filed as an individual filing and executed by an attorney-in-fact on 09/17/2025.

Positive

• Alignment of interests: Grant increases CEO's ownership to 749,139 shares, aligning management with shareholders
• Retention-focused vesting: Time-based schedule (8% then eight quarterly installments) supports continuity of leadership
• No cash outlay required: RSUs granted at $0 reduce immediate cash burden on the executive and company

Negative

• Potential dilution: 324,816 RSUs will dilute current shareholders when settled into common shares
• Limited context: Filing does not disclose total outstanding shares or potential impact on share count

Insights

Financial Analyst

TL;DR: Routine executive equity grant aligns CEO incentives with shareholder value, modest near-term dilution, typical vesting schedule.

The grant of 324,816 RSUs to the CEO increases his beneficial ownership to 749,139 shares, which strengthens executive alignment with long-term performance while creating potential dilution when shares vest and settle. The award is time-based with 8% vesting after roughly two months and the balance in eight quarterly tranches, incentivizing retention. No cash exercise or sale was reported, and the transaction code indicates a standard grant rather than a sale or disposition. For investors, this is a governance and compensation data point rather than an operational signal.

Corporate Governance Expert

TL;DR: Standard executive equity award and vesting schedule; reinforces retention without immediate liquidity event.

The RSU structure — initial small vesting followed by quarterly installments — is a common retention mechanism. Beneficial ownership post-grant (749,139 shares) should be compared to total outstanding shares to assess meaningfulness, which is not provided in this filing. The filing shows proper Section 16 reporting and was signed via attorney-in-fact, consistent with routine compliance practices. No amendments or atypical vesting accelerations are disclosed.

SEC Form 4

FORM 4

UNITED 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
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Rogers Chris

(Last) (First) (Middle)

C/O MAPLEBEAR INC.

50 BEALE STREET, SUITE 600

(Street)

SAN FRANCISCO CA 94105

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Maplebear Inc. [ CART ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/15/2025		A		324,816(1)	A	$0	749,139	D

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The shares represent restricted stock units (RSUs). Eight percent (8%) of the RSUs vest on November 15, 2025, and the remainder of the RSUs vest in 8 equal quarterly installments thereafter, subject to continued service through each vesting date.

	/s/ Nathan Cao, Attorney-in-Fact	09/17/2025
	** Signature of Reporting Person	Date
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.

FAQ

What did Maplebear Inc. (CART) report on this Form 4?

The company reported that President and CEO Chris Rogers was granted 324,816 RSUs on 09/15/2025, increasing his beneficial ownership to 749,139 shares.

How do the RSUs vest for Chris Rogers?

The RSUs vest with 8% on November 15, 2025 and the remainder vest in eight equal quarterly installments, subject to continued service.

Did Chris Rogers pay for the RSUs?

No cash price was reported; the RSUs were granted with a $0 price in the transaction.

Who filed and signed the Form 4 for CART?

The Form 4 was filed by one reporting person and signed by Nathan Cao, Attorney-in-Fact on 09/17/2025.

Does the filing show any sales or dispositions by the insider?

No sales or dispositions were reported; the filing records an acquisition (grant) of RSUs only.