CART Form 4: Josh Silverman Granted 9,180 Shares in Two RSU Tranches

Rhea-AI Filing Summary

Maplebear Inc. (CART) Form 4: Director Josh Silverman reported two grants of common stock units on 08/15/2025. The filing shows 5,195 restricted stock units that vest in equal annual installments over three years from the grant date and 3,985 restricted stock units that vest in full on the earlier of the company’s next annual meeting (or immediately prior if director ceases service) or the one-year anniversary of the grant date, each subject to continued service. Following these reported transactions, the filing reports 9,180 shares beneficially owned directly. The Form 4 was submitted under power of attorney and signed on 08/19/2025.

Insights

Corporate Governance Expert

TL;DR: Routine director equity grants tied to service; aligns director incentives without indicating governance change.

The reported awards are structured as restricted stock units with time- and event-based vesting, a common practice for non-employee directors to align long-term interests with shareholders. The two tranches include multi-year service vesting and a short-term vesting tied to the next annual meeting or one-year anniversary, which can help retain board membership through the next shareholder vote. No transfers, sales, or derivative transactions are reported, and the holdings are disclosed as direct beneficial ownership.

Securities Analyst

TL;DR: Non-material insider grant; unlikely to move valuation but relevant for disclosure and insider ownership tracking.

The amounts disclosed—5,195 and 3,985 RSUs for a total of 9,180 directly held common shares—represent compensation events rather than liquidity actions. Because the filing records acquisition at $0 and standard vesting conditions, this appears to be compensation for service rather than market purchases or sales. Investors tracking insider buying/selling should treat this as a routine grant with limited immediate market impact.

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

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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).

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^*

Silverman Josh

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

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	08/15/2025		A		5,195(1)	A	$0	5,195	D
Common Stock	08/15/2025		A		3,985(2)	A	$0	9,180	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, which vest in equal annual installments over a three-year period measured from the grant date, subject to the Reporting Person's continued service through each such date.

2. The shares represent restricted stock units, which vest in full on the earlier of (i) the date of the Issuer's next annual meeting of stockholders (or the date immediately prior to such meeting if the Reporting Person's service as a director ends at such meeting due to the Reporting Person's failure to be re-elected or the Reporting Person not standing for re-election) or (ii) the one-year anniversary of the grant date, in each case subject to the Reporting Person's continued service through such date.

	/s/ Bradley Libuit, Attorney-in-Fact	08/19/2025
	** 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.
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FAQ

What did Josh Silverman report on the Form 4 for CART?

The Form 4 reports two acquisitions of RSUs on 08/15/2025: 5,195 units vesting over three years and 3,985 units vesting at the earlier of the next annual meeting or one-year anniversary, totaling 9,180 shares directly owned.

Are the reported shares for CART purchases or compensation?

They are reported as restricted stock units granted at a price of $0, indicating equity compensation subject to vesting conditions rather than open-market purchases.

What vesting schedules apply to the CART RSUs?

One tranche of 5,195 RSUs vests in equal annual installments over three years; the 3,985 RSUs vest in full on the earlier of the issuer's next annual meeting or one-year anniversary of the grant, subject to continued service.

How many CART shares does Josh Silverman beneficially own after the transaction?

The Form 4 reports 9,180 shares beneficially owned following the reported transactions, held directly.

When was the Form 4 for CART signed and filed?

The filing shows execution under power of attorney with a signature date of 08/19/2025.