[144] Marqeta, Inc. SEC Filing

Rhea-AI Filing Summary

Marqeta, Inc. (MQ) notice reports a proposed sale of 750,000 common shares through Morgan Stanley Smith Barney, with an aggregate market value of $4,773,750. The shares were acquired as founders' shares on 12/04/2014. The filing lists an approximate sale date of 09/02/2025 and shows 414,971,902 shares outstanding. The filer discloses prior sales by an affiliated trust: 2,250,000 common shares sold on 08/07/2025 for $14,928,075. The form includes the standard Rule 144 representation that the seller is not aware of undisclosed material adverse information and references reliance on a 10b5-1 trading plan where applicable.

Positive

• Timely disclosure of the proposed sale and broker information via Form 144 enhances market transparency
• Filer documents acquisition details (founders' shares dated 12/04/2014), supporting traceability of insider holdings
• Contains Rule 144 representation and reference to 10b5-1 plan, indicating procedural compliance

Negative

• Insider liquidity events disclosed: a prior sale of 2,250,000 shares (08/07/2025) for $14,928,075 and a proposed 750,000-share sale, which may signal insider selling pressure

Insights

Securities Analyst

TL;DR Insider-related sales disclosed: 750,000 shares planned and 2,250,000 shares recently sold; both are modest versus total float but relevant to liquidity.

The filing notifies the market of a proposed sale of 750,000 common shares valued at $4.77 million, acquired as founders' shares in 2014, with a target sale date of September 2, 2025. The disclosure of a 10b5-1 plan representation and the contemporaneous report of a separate 2,250,000-share sale on August 7, 2025 (gross proceeds $14.93 million) provide transparency about insider liquidity activity. Relative to the issuer's reported outstanding shares (414.97 million), the proposed sale equals roughly 0.18% of shares outstanding, indicating limited direct dilutive or supply impact. Investors should note selling activity but the sizes are small versus the total float.

Corporate Governance Expert

TL;DR Proper Rule 144 disclosure and 10b5-1 acknowledgment are present, supporting compliance and reducing short-term information asymmetry.

The Form 144 contains required information: broker details (Morgan Stanley Smith Barney), class and amount of securities, acquisition date and nature (founders' shares), and prior sales by an affiliated trust. The signer affirms no undisclosed material adverse information, consistent with legal attestations expected in such notices. From a governance perspective, timely and complete filing of Rule 144 notices and identification of 10b5-1 adoption dates (when applicable) are important to demonstrate adherence to insider trading policies and to mitigate regulatory risk. This filing appears procedurally compliant based on the information provided.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	750000	4773750.00	414971902	09/02/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	12/04/2014	Founders Shares	Issuer			750000	12/04/2014	N/A

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
10b5-1 Sales for The Gardner 2008 Living Trust dated March 22, 2008 180 Grand Avenue 6th Floor OAKLAND CA 94612	Common	08/07/2025	2250000	14928075.00

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does Marqeta's (MQ) Form 144 report?

The notice reports a proposed sale of 750,000 common shares (aggregate market value $4,773,750) with an approximate sale date of 09/02/2025 via Morgan Stanley Smith Barney.

When were the shares being sold originally acquired?

The shares were acquired as founders' shares on 12/04/2014 and the filing lists the acquisition as from the issuer.

Has there been recent related selling activity for MQ?

Yes. The filing discloses a prior sale by an affiliated trust of 2,250,000 common shares on 08/07/2025 for $14,928,075.

How large is the proposed sale relative to Marqeta's shares outstanding?

The proposed 750,000 shares represent approximately 0.18% of the 414,971,902 shares outstanding reported in the form.

Which broker is handling the proposed sale?

The filing lists Morgan Stanley Smith Barney LLC, 1 New York Plaza, 8th Floor, New York, NY 10004 as the broker.