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  4. [Form 4] Maplebear Inc. Insider Trading Activity

Maplebear (CART) general counsel exercises options and sells company stock

Filing Impact
(Very High)
Filing Sentiment
(Very Negative)
Form Type
4

Rhea-AI Filing Summary

Maplebear Inc.’s general counsel and secretary, Morgan Fong, exercised stock options and sold shares of common stock. Fong exercised a fully vested option for 110,340 shares of common stock at an exercise price of $7.32 per share. On the same date, Fong sold a total of 126,083 common shares in multiple open-market transactions, at weighted-average prices with individual trades ranging from $36.23 to $37.98 per share as disclosed in footnotes. Following these transactions, Fong directly holds 386,643 Maplebear common shares. The option exercise and related sales were carried out under a pre-arranged Rule 10b5-1 trading plan adopted on December 10, 2025, indicating the trades were scheduled in advance.

Positive

  • None.

Negative

  • None.
Insider Fong Morgan
Role GENERAL COUNSEL & SECRETARY
Sold 126,083 shs ($4.68M)
Approx. gross sale proceeds $4.68M
Approx. exercise cost $808K
Type Security Shares Price Value
Exercise Stock Option (Right to Buy) 110,340 $0.00 $0.00
Exercise Common Stock 110,340 $7.32 $808K
Sale Common Stock 75,219 $36.8695 $2.77M
Sale Common Stock 35,121 $37.5739 $1.32M
Sale Common Stock 10,788 $36.8728 $398K
Sale Common Stock 4,955 $37.5883 $186K
Holdings After Transaction: Stock Option (Right to Buy) — 110,340 shares (Direct); Common Stock — 386,643 shares (Direct)
Footnotes (7)
  1. F1. The reported stock option exercise and sales were effected pursuant to a Rule 10b5-1 trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c), adopted on December 10, 2025.
  2. F2. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $36.23 to $37.22 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
  3. F3. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $37.23 to $37.97 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
  4. F4. The reported sales were effected pursuant to a Rule 10b5-1 trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c), adopted on December 10, 2025.
  5. F5. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $36.25 to $37.24 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
  6. F6. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $37.26 to $37.98 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
  7. F7. The stock option is fully vested and exercisable.

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Form 4 Insider Transactions: What Each Field Means →

FAQ

What insider transactions did Maplebear (CART) report for Morgan Fong?
Maplebear reported that general counsel Morgan Fong exercised stock options for 110,340 common shares and sold 126,083 common shares. All transactions occurred on March 11, 2026 and were executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 10, 2025.

How many Maplebear (CART) shares did the general counsel sell in this Form 4?
Morgan Fong sold 126,083 Maplebear common shares across four open-market transactions. These dispositions followed the exercise of options covering 110,340 shares and were reported as ordinary open-market or private transactions under transaction code “S” for sale in the Form 4 filing.

At what prices were the Maplebear (CART) shares sold by Morgan Fong?
The reported sale prices are weighted averages for grouped trades, with individual transactions occurring between $36.23 and $37.98 per share. Each sale block has a specified price range, and Fong has undertaken to provide detailed breakdowns of shares sold at each separate price upon request.

How many Maplebear (CART) shares does Morgan Fong hold after these transactions?
After exercising options and selling shares, Morgan Fong directly holds 386,643 Maplebear common shares. This figure reflects all reported transactions on March 11, 2026 and represents Fong’s remaining direct ownership as disclosed in the post-transaction share balance fields within the Form 4 data.

Were the Maplebear (CART) insider trades by Morgan Fong made under a Rule 10b5-1 plan?
Yes. Footnotes state that both the stock option exercise and the reported sales were effected under a Rule 10b5-1 trading plan. The plan was adopted on December 10, 2025 and is described as intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

What stock option did Morgan Fong exercise in the Maplebear (CART) Form 4?
Fong exercised a fully vested stock option covering 110,340 common shares with an exercise price of $7.32 per share. The option, described as fully vested and exercisable in the footnotes, has an expiration date of May 16, 2027, and was reported under transaction code “M”.
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
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).
X
 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*
Fong Morgan
(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)
Director 10% Owner
X Officer (give title below) Other (specify below)
GENERAL COUNSEL & SECRETARY
3. Date of Earliest Transaction (Month/Day/Year)
03/11/2026
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 03/11/2026 M(1) 110,340 A $7.32 512,726 D
Common Stock 03/11/2026 S(1) 75,219 D $36.8695(2) 437,507 D
Common Stock 03/11/2026 S(1) 35,121 D $37.5739(3) 402,386 D
Common Stock 03/11/2026 S(4) 10,788 D $36.8728(5) 391,598 D
Common Stock 03/11/2026 S(4) 4,955 D $37.5883(6) 386,643 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
Stock Option (Right to Buy) $7.32 03/11/2026 M(1) 110,340 (7) 05/16/2027 Common Stock 110,340 $0 110,340 D
Explanation of Responses:
1. The reported stock option exercise and sales were effected pursuant to a Rule 10b5-1 trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c), adopted on December 10, 2025.
2. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $36.23 to $37.22 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
3. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $37.23 to $37.97 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
4. The reported sales were effected pursuant to a Rule 10b5-1 trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c), adopted on December 10, 2025.
5. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $36.25 to $37.24 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
6. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $37.26 to $37.98 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
7. The stock option is fully vested and exercisable.
Remarks:
/s/ Bradley Libuit, Attorney-in-Fact 03/13/2026
** 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.

Source: View Original Filing on SEC EDGAR