Mastercard CFO Hai Ling exercises options, sells shares

Both exercise-and-sale sequences were made under a Rule 10b5-1 plan adopted December 10, 2025.

Available on EDGAR 11/03/2026 - 04:16 PM EST Accepted by SEC EDGAR 11/03/2026 - 04:16 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Mastercard Inc Chief Financial Officer Hai Ling exercised employee stock options for 4,318 Class A shares on October 30, 2026, at an exercise price of $112.31 per share, then sold those shares at $642.43 each. On November 2, 2026, he exercised options for 4,317 shares at $112.31 per share and sold them at $641.00 each. Both exercise-and-sale sequences were made under a Rule 10b5-1 plan adopted December 10, 2025.

Insider Trade Summary 10b5-1

Exercise and Sale: 8,635 shares ($4.57M approx. pre-tax spread)

Exercise and Sale 6 txns

Insider Ling Hai

Role Chief Financial Officer

Sold 8,635 shs ($5.54M)

Approx. gross sale proceeds $5.54M

Approx. exercise cost $970K

Approx. pre-tax spread $4.57M

Type	Security	Shares	Price	Value
Exercise	Employee Stock Option (right to buy) F1, F2	4,317	$0.00	$0.00
Exercise	Class A Common Stock F1	4,317	$112.31	$485K
Sale	Class A Common Stock F1	4,317	$641.00	$2.77M
Exercise	Employee Stock Option (right to buy) F1, F2	4,318	$0.00	$0.00
Exercise	Class A Common Stock F1	4,318	$112.31	$485K
Sale	Class A Common Stock F1	4,318	$642.43	$2.77M

Holdings After Transaction: Employee Stock Option (right to buy) — 0 contracts (Direct); Class A Common Stock — 35,750.5 shares (Direct)

Footnotes (2)

1. F1. The transaction was effected pursuant to a pre-planned trading plan entered into in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. The pre-planned trading plan was adopted by the reporting person for personal financial management purposes on December 10, 2025.
2. F2. The reporting person was awarded 12,952 employee stock options on March 1, 2017, which previously had fully vested.

Key Figures

Options exercised: 4,318 shares Exercise price: $112.31 per share Sale price: $642.43 per share +3 more

6 metrics

Options exercised 4,318 shares October 30, 2026

Exercise price $112.31 per share October 30, 2026

Sale price $642.43 per share October 30, 2026

Options exercised 4,317 shares November 2, 2026

Exercise price $112.31 per share November 2, 2026

Sale price $641.00 per share November 2, 2026

Key Terms

Rule 10b5-1, pre-planned trading plan, fully vested

3 terms

Rule 10b5-1 regulatory

"in accordance with Rule 10b5-1"

Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.

pre-planned trading plan financial

"The pre-planned trading plan was adopted"

fully vested financial

"which previously had fully vested"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many MA shares did CFO Hai Ling sell, and at what prices?

Hai Ling sold 4,318 shares on October 30, 2026, at $642.43 per share and 4,317 shares on November 2, 2026, at $641.00 per share. Both sales were made under a Rule 10b5-1 plan adopted December 10, 2025.

When were Hai Ling's MA stock options awarded?

Hai Ling was awarded 12,952 employee stock options on March 1, 2017, and the options had previously fully vested.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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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^*

Ling Hai

(Last) (First) (Middle)

2000 PURCHASE STREET

(Street)

PURCHASE NEW YORK 10577

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Mastercard Inc [ MA ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/30/2026

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

X	Form 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)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	10/30/2026		M		4,318(1)	A	$112.31	40,068.5	D
Class A Common Stock	10/30/2026		S		4,318(1)	D	$642.43	35,750.5	D
Class A Common Stock	11/02/2026		M		4,317(1)	A	$112.31	40,067.5	D
Class A Common Stock	11/02/2026		S		4,317(1)	D	$641	35,750.5	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
Employee Stock Option (right to buy)	$112.31	10/30/2026		M			4,318(1)	(2)	03/01/2027	Class A Common Stock	4,318	$0	4,317	D
Employee Stock Option (right to buy)	$112.31	11/02/2026		M			4,317(1)	(2)	03/01/2027	Class A Common Stock	4,317	$0	0	D

Explanation of Responses:

1. The transaction was effected pursuant to a pre-planned trading plan entered into in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. The pre-planned trading plan was adopted by the reporting person for personal financial management purposes on December 10, 2025.

2. The reporting person was awarded 12,952 employee stock options on March 1, 2017, which previously had fully vested.

Remarks:

	/s/ Craig Brown, as attorney-in-fact for Hai Ling, pursuant to a power of attorney dated June 23, 2025	11/03/2026
	** 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.
* Form 4: SEC 1474 (03-26)