Marqeta (NYSE: MQ) CTO receives large RSU and performance stock unit awards
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Strozek Lukasz reported acquisition or exercise transactions in this Form 4 filing.
Marqeta, Inc. Chief Technology Officer Lukasz Strozek reported new equity awards. He received 1,930,156 restricted stock units and 482,536 performance stock units, each convertible into one share of Class A Common Stock at no purchase price.
The performance stock units relate to “Rule of 40” metrics and may be issued at target levels after achieving specified gross profit and adjusted EBITDA goals in the award agreement. At maximum achievement, 200% of the target shares would vest, subject to continued service.
The restricted stock units vest over time, with one-third vesting on June 1, 2027, and the remainder vesting quarterly thereafter, conditioned on Strozek’s continued service with Marqeta as of each vesting date.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Strozek Lukasz
Role
Chief Technology Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Performance Stock Units (Rule of 40) | 482,536 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 1,930,156 | $0.00 | -- |
Holdings After Transaction:
Performance Stock Units (Rule of 40) — 482,536 shares (Direct);
Restricted Stock Units — 1,930,156 shares (Direct)
Footnotes (1)
- Each performance stock unit is convertible into one share of Class A Common Stock. Represents the number of shares which may be issued at target under the performance stock unit ("PSU") over a period of time following achievement of certain gross profit and adjusted EBITDA targets as set forth in the PSU agreement, subject to the Reporting Person's continued service to the Issuer as of each vesting date. At maximum achievement, 200% of the shares would vest. Each restricted stock unit is convertible into one share of Class A Common Stock. One-third (1/3rd) of the restricted stock units vest on June 1, 2027, and an additional one-twelfth (1/12th) of the restricted stock units vest on each September 1, December 1, March 1 and June 1 thereafter until fully vested, subject to the Reporting Person's continued service with the Issuer as of each vesting date.
Key Figures
Restricted stock units granted: 1,930,156 units
Performance stock units granted: 482,536 units
PSU maximum vesting multiple: 200%
+3 more
6 metrics
Restricted stock units granted
1,930,156 units
Equity award to CTO, each for one Class A share
Performance stock units granted
482,536 units
Rule of 40 PSU award to CTO at target
PSU maximum vesting multiple
200%
Maximum shares vesting upon top performance achievement
Initial RSU vesting date
June 1, 2027
One-third of restricted stock units vest
Post-transaction RSU holdings
1,930,156 units
Total restricted stock units following grant
Post-transaction PSU holdings
482,536 units
Total performance stock units following grant
Key Terms
Restricted Stock Units, Performance Stock Units, gross profit, adjusted EBITDA, +1 more
5 terms
Restricted Stock Units financial
"Each restricted stock unit is convertible into one share of Class A Common Stock."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Performance Stock Units financial
"Represents the number of shares which may be issued at target under the performance stock unit ("PSU") over a period of time..."
Performance stock units are a type of company award that grants employees shares of stock only if certain performance goals are met. They motivate employees to work toward specific company achievements, aligning their interests with those of shareholders. For investors, they can influence a company's future stock supply and reflect management’s confidence in reaching key targets.
gross profit financial
"...following achievement of certain gross profit and adjusted EBITDA targets as set forth in the PSU agreement..."
Gross profit is the amount a business keeps from sales after subtracting the direct costs to make or buy the products or services sold — like the money left from a lemonade stand after paying for lemons, sugar and cups. Investors watch gross profit to judge how well a company’s core operations and pricing cover those direct costs, revealing its basic profitability and whether margins are improving or shrinking over time.
adjusted EBITDA financial
"...following achievement of certain gross profit and adjusted EBITDA targets as set forth in the PSU agreement..."
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
vesting financial
"One-third (1/3rd) of the restricted stock units vest on June 1, 2027, and an additional one-twelfth (1/12th)... until fully vested..."
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
FAQ
What insider transaction did Marqeta (MQ) CTO Lukasz Strozek report?
Lukasz Strozek reported receiving large equity awards consisting of restricted stock units and performance stock units. These grants are compensation awards, not open-market purchases or sales, and are tied to future service and, for the PSUs, specific financial performance goals.
How many restricted stock units did Marqeta (MQ) grant to its CTO?
Marqeta granted its CTO 1,930,156 restricted stock units, each convertible into one share of Class A Common Stock. These units vest over time, beginning June 1, 2027, with additional portions vesting quarterly as long as he continues serving the company.
What are the terms of the Marqeta (MQ) performance stock units granted to the CTO?
The CTO received 482,536 performance stock units tied to gross profit and adjusted EBITDA targets. Shares may be issued at target levels over time once those metrics are achieved under the PSU agreement, and continued service is required at each vesting date.
Can Marqeta (MQ) performance stock units vest above the target amount?
Yes, the performance stock units can vest above target. At maximum achievement of the specified gross profit and adjusted EBITDA targets, 200% of the target PSU shares would vest, increasing the potential number of shares the CTO ultimately receives.
When do Marqeta (MQ) restricted stock units for the CTO start vesting?
The restricted stock units start vesting on June 1, 2027, when one-third of the award vests. The remaining units vest in equal quarterly installments on September 1, December 1, March 1, and June 1, subject to the CTO’s continued service with Marqeta.
Are the Marqeta (MQ) CTO’s new equity awards market transactions?
No, these awards are compensation-related grants reported as acquisitions under Form 4 code A. They do not involve open-market buying or selling of Marqeta shares, but rather promise future shares based on service and performance conditions.