MarketWise CFO Increases Stake After Reverse Split, According to Form 4

Rhea-AI Filing Summary

MarketWise, Inc. (MKTW) – Form 4 filing dated 06/20/2025

Chief Financial Officer Erik Mickels reported an open-market purchase of the company’s Class A common stock. On 06/17/2025 he acquired 940 shares at a weighted-average price of $17.94 per share. The filing states that the purchases were executed in multiple lots between $17.40 and $18.26; full price-tier details are available upon request.

Following the transaction, Mickels’ direct beneficial ownership increased to 69,998 Class A shares. These share counts already reflect the company’s 1-for-20 reverse stock split that became effective on 04/02/2025.

No derivative securities were reported, and there were no sales or dispositions. The form was signed by Attorney-in-Fact Scott Forney on 06/20/2025.

• Form filed by a single reporting person; the filer remains subject to Section 16.
• Transaction classified with code “P” (open-market purchase).
• No Rule 10b5-1 trading plan was indicated.

The filing provides factual disclosure of a modest insider purchase by a senior executive but includes no additional financial performance data.

Positive

• CFO insider purchase: 940 shares bought on the open market at $17.94 average price, increasing direct ownership to 69,998 shares.

Negative

• None.

Insights

Securities Analyst

TL;DR: CFO buys 940 shares post-split; modest size but insider buying usually viewed constructively.

The $17k purchase marginally increases the CFO’s stake to 69,998 shares after the April 1-for-20 reverse split. While the dollar value is small relative to MarketWise’s market capitalisation, open-market purchases by senior executives are typically interpreted as confidence signals. Importantly, the transaction is not under a 10b5-1 plan, suggesting discretionary buying. No sales were reported, and there is no dilution impact. Overall, the disclosure is mildly positive for sentiment but not financially material.

Corporate Governance Specialist

TL;DR: Voluntary, non-plan insider purchase strengthens alignment; impact limited by small size.

From a governance standpoint, discretionary insider buying—especially after a reverse split—helps reassure investors that management’s interests remain aligned with shareholders. The clean transaction code “P” and absence of derivative activity reduce complexity. However, the purchase represents only a fraction of outstanding shares, so it should not materially affect ownership concentration or control. Filing timeliness and proper signature indicate compliance with Section 16 requirements.

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).

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^*

Mickels Erik

(Last) (First) (Middle)

1125 N. CHARLES STREET

(Street)

BALTIMORE MD 21201

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MARKETWISE, INC. [ MKTW ]

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)
06/17/2025

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
Class A Common Stock	06/17/2025		P		940	A	$17.94(1)	69,998(2)	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 price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions ranging from $17.40 to $18.26, inclusive. The Reporting Person has provided to the Issuer, and undertakes to provide to any securityholder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth above.

2. Effective April 2, 2025, the Issuer effected a 1-for-20 reverse stock split of its common stock (the "Reverse Stock Split"). The amount of securities reported on this Form 4 has been adjusted to reflect the Reverse Stock Split.

Remarks:

	/s/ Scott Forney, Attorney-in-Fact	06/20/2025
	** 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

How many MarketWise (MKTW) shares did the CFO purchase?

Erik Mickels bought 940 Class A shares on 06/17/2025.

What was the purchase price reported in the Form 4?

The weighted-average price was $17.94; individual trades ranged from $17.40 to $18.26.

Does the reported ownership reflect MarketWise's 1-for-20 reverse split?

Yes. The Form 4 states that the 69,998-share total is post-split adjusted.

Was the transaction executed under a Rule 10b5-1 plan?

No. The filer did not check the box indicating a 10b5-1(c) trading plan.

Were any derivative securities involved in this filing?

No derivative securities were acquired or disposed of; Table II is empty.