MARA director sells 7,000 shares under 10b5-1 plan

MARA Holdings, Inc. director Douglas K. Mellinger reported an open-market sale of 7,000 shares of common stock at $16.00 per share.

Rhea-AI Filing Summary

MARA Holdings, Inc. director Douglas K. Mellinger reported an open-market sale of 7,000 shares of common stock at $16.00 per share. The transaction occurred on June 22, 2026 and was classified as a non-derivative sale.

Following this sale, he directly holds 231,618 shares of MARA common stock. In addition, a separate holding entry shows 15,000 shares held indirectly through Sycamore Fig LLC, of which he is the sole member and may be deemed to beneficially own the shares.

The filing notes that the sale was executed under a Rule 10b5-1 trading plan adopted by Mellinger on March 6, 2025, indicating the transaction was pre-planned rather than a discretionary trade based on short-term market conditions.

Insider Trade Summary 10b5-1

Net Seller: 7,000 shares

Net Sell 2 txns

Insider MELLINGER DOUGLAS K

Role Director

Sold 7,000 shs ($112K)

Type	Security	Shares	Price	Value
Sale	Common Stock	7,000	$16.00	$112K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 231,618 shares (Direct); Common Stock — 15,000 shares (Indirect, By Sycamore Fig LLC)

Footnotes (2)

1. F1. The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 6, 2025.
2. F2. The reporting person is the sole member of Sycamore Fig LLC and may be deemed to beneficially own shares of the issuer's common stock held thereby.

Key Figures

Shares sold: 7,000 shares Sale price: $16.00 per share Direct holdings after sale: 231,618 shares +3 more

6 metrics

Shares sold 7,000 shares Open-market sale of MARA common stock on June 22, 2026

Sale price $16.00 per share Price for 7,000-share common stock sale

Direct holdings after sale 231,618 shares Mellinger’s direct MARA common stock position post-transaction

Indirect holdings 15,000 shares MARA common stock held via Sycamore Fig LLC

Trading plan adoption date March 6, 2025 Date Mellinger adopted Rule 10b5-1 trading plan

Transaction classification Open-market sale Form 4 transaction code S, non-derivative

Key Terms

Rule 10b5-1 trading plan, open-market sale, beneficially own, indirect ownership

4 terms

Rule 10b5-1 trading plan regulatory

"The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 6, 2025."

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

open-market sale financial

"transaction_action: open-market sale; transaction_code_description: Sale in open market or private transaction"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

beneficially own regulatory

"may be deemed to beneficially own shares of the issuer's common stock held thereby"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

indirect ownership financial

"direct_or_indirect: I, nature_of_ownership: By Sycamore Fig LLC"

FAQ

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

What insider transaction did MARA director Douglas K. Mellinger report?

Douglas K. Mellinger reported selling 7,000 shares of MARA Holdings common stock. The sale was an open-market transaction at $16.00 per share, recorded as a non-derivative transaction dated June 22, 2026, and disclosed on a Form 4 insider filing.

At what price did Douglas K. Mellinger sell MARA (MARA) shares?

Mellinger sold his MARA Holdings common stock at $16.00 per share. The Form 4 reports a single non-derivative sale of 7,000 shares at this price, providing investors with a clear view of the transaction’s per-share valuation.

How many MARA shares does Douglas K. Mellinger hold after this Form 4 sale?

After the reported sale, Mellinger directly holds 231,618 MARA Holdings common shares. The Form 4 also shows an additional 15,000 shares held indirectly through Sycamore Fig LLC, which he may be deemed to beneficially own as its sole member.

Was the MARA insider sale by Douglas K. Mellinger under a Rule 10b5-1 plan?

Yes, the Form 4 states the sale was executed under a Rule 10b5-1 trading plan. The plan was adopted by Mellinger on March 6, 2025, indicating the June 22, 2026 sale was pre-arranged rather than a spontaneous market-timing decision.

What is Sycamore Fig LLC’s role in Douglas K. Mellinger’s MARA holdings?

Sycamore Fig LLC holds 15,000 MARA Holdings common shares reported as an indirect holding. Mellinger is the sole member of Sycamore Fig LLC and may be deemed to beneficially own the shares of MARA common stock held by the entity.

Does the Form 4 show any derivative securities for Douglas K. Mellinger in MARA?

The Form 4 derivative summary is empty, indicating no derivative transactions were reported in this filing. All disclosed positions relate to MARA Holdings common stock, with one open-market sale and one indirect ownership entry through Sycamore Fig LLC.

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

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Accepted by SEC EDGAR 06/24/2026 - 08:00 PM EDT Learn about SEC filing dates

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^*

MELLINGER DOUGLAS K

(Last) (First) (Middle)

C/O MARA HOLDINGS, INC.

1010 SOUTH FEDERAL HIGHWAY, SUITE 2700

(Street)

HALLANDALE BEACH FLORIDA 33009

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/22/2026

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
Common Stock	06/22/2026		S(1)		7,000	D	$16	231,618	D
Common Stock								15,000	I(2)	By Sycamore Fig LLC

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 6, 2025.

2. The reporting person is the sole member of Sycamore Fig LLC and may be deemed to beneficially own shares of the issuer's common stock held thereby.

	/s/ Zabi Nowaid, Attorney-in-Fact for Douglas K. Mellinger	06/24/2026
	** 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)