MARA Holdings (MARA) CFO Salman Khan reports Rule 10b5-1 stock sale

Rhea-AI Filing Summary

MARA Holdings, Inc. Chief Financial Officer Salman Khan reported a sale of company stock. On 12/15/2025, he sold 34,732 shares of common stock at a price of $11.48 per share, using transaction code “S” for a sale.

The trade was made under a pre-arranged Rule 10b5-1 trading plan that he adopted on March 14, 2025, which is designed to allow insiders to sell shares according to a preset schedule. After this transaction, he beneficially owned 248,566 shares indirectly through the S & N Khan Family Trust and 1,251,650 shares directly. He and his spouse serve as trustees of the family trust, whose beneficiaries are members of his immediate family.

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^*

Khan Salman Hassan

(Last) (First) (Middle)

C/O MARA HOLDINGS, INC.

1010 SOUTH FEDERAL HIGHWAY, SUITE 2700

(Street)

HALLANDALE BEACH FL 33009

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MARA Holdings, Inc. [ MARA ]

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

3. Date of Earliest Transaction (Month/Day/Year)
12/15/2025

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	12/15/2025		S(1)		34,732	D	$11.48	248,566	I(2)	By S & N Khan Family Trust
Common Stock								1,251,650	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 sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 14, 2025.

2. The reporting person and his spouse are trustees of the S & N Khan Family Trust, and members of the reporting person's immediate family are the sole beneficiaries of the trust.

	/s/ Zabi Nowaid, Attorney-in-Fact for Salman Khan	12/17/2025
	** 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 insider transaction did MARA Holdings (MARA) disclose for its CFO?

The Chief Financial Officer, Salman Khan, reported selling 34,732 shares of MARA Holdings common stock on 12/15/2025 at $11.48 per share.

Was the MARA Holdings (MARA) CFO stock sale part of a Rule 10b5-1 plan?

Yes. The sale was effected under a Rule 10b5-1 trading plan that Salman Khan adopted on March 14, 2025.

How many MARA Holdings (MARA) shares does the CFO own after the reported sale?

After the transaction, Salman Khan beneficially owned 248,566 shares indirectly through the S & N Khan Family Trust and 1,251,650 shares directly.

What price did the MARA Holdings (MARA) CFO receive for the sold shares?

The 34,732 shares of MARA Holdings common stock were sold at a price of $11.48 per share.

What is the S & N Khan Family Trust mentioned in the MARA Holdings (MARA) insider report?

The S & N Khan Family Trust is an entity where Salman Khan and his spouse are trustees, and members of his immediate family are the sole beneficiaries. It holds 248,566 MARA shares indirectly for him.

What role does Salman Khan hold at MARA Holdings (MARA)?

Salman Khan is listed as an officer of MARA Holdings, serving as the company’s Chief Financial Officer.