Marqeta director converts 34,905 RSUs to shares

Marqeta, Inc. director Wendy Thomas exercised restricted stock units into 34,905 shares of Class A Common Stock on April 18, 2026.

Rhea-AI Filing Summary

Marqeta, Inc. director Wendy Thomas exercised restricted stock units into 34,905 shares of Class A Common Stock on April 18, 2026. The related RSUs are convertible one-for-one into Class A shares and vest in three equal installments on April 18, 2026, 2027 and 2028, subject to continued service.

Insights

Equity compensation analyst

Routine equity award vesting; no open‑market buying or selling.

The filing shows director Wendy Thomas converting 34,905 restricted stock units into Class A Common Stock at a stated price of $0.00, a standard equity compensation mechanism rather than a market trade.

The RSUs vest one-third on April 18, 2026, April 18, 2027 and April 18, 2028, contingent on continued service. With no open-market sales or purchases disclosed, this is a routine, non-cash compensation event with neutral impact on the broader investment thesis.

Insider Trade Summary

34,905 shares exercised/converted

Exercise 2 txns

Insider Thomas Wendy

Role Director

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	34,905	$0.00	$0.00
Exercise	Class A Common Stock	34,905	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 69,807 contracts (Direct); Class A Common Stock — 34,905 shares (Direct)

Footnotes (3)

1. F1. Transaction exempt from Section 16(b) of the Securities Exchange Act of 1934 (the "Act") pursuant to Rule 16b-6(b) promulgated under the Act.
2. F2. Each restricted stock unit is convertible into one share of Class A Common Stock.
3. F3. One-third (1/3rd) of the restricted stock units vest on each of April 18, 2026, April 18, 2027 and April 18, 2028, subject to the Reporting Person's continued service with the Issuer as of each vesting date.

Key Figures

Shares acquired: 34,905 shares RSU-to-share ratio: 1 RSU : 1 share RSU vesting schedule: 1/3 each year +2 more

5 metrics

Shares acquired 34,905 shares Class A Common Stock from RSU conversion on April 18, 2026

RSU-to-share ratio 1 RSU : 1 share Each restricted stock unit converts into one Class A share

RSU vesting schedule 1/3 each year Vests on April 18, 2026, 2027 and 2028 with continued service

Post-transaction common shares 34,905 shares Total Class A Common Stock held directly after the transaction

Post-transaction RSU balance 69,807 RSUs Restricted Stock Units reported as outstanding following the transaction

Key Terms

Restricted Stock Units, Section 16(b), Rule 16b-6(b)

3 terms

Restricted Stock Units financial

"The filing lists “Restricted Stock Units” as a derivative security."

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.

Section 16(b) regulatory

"Transaction exempt from Section 16(b) of the Securities Exchange Act of 1934."

A federal rule that requires company insiders—like officers, directors and large shareholders—to return any profits made from buying and selling the company’s stock within a six-month window. It matters to investors because it discourages short-term trades that could exploit non-public information and helps protect outside shareholders by creating a simple, enforceable way to recover unfair gains, much like a rule stopping someone from flipping a limited-edition item for quick profit after getting early access.

Rule 16b-6(b) regulatory

"Exempt from Section 16(b) pursuant to Rule 16b-6(b) promulgated under the Act."

FAQ

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

What did Marqeta (MQ) director Wendy Thomas report in this Form 4?

Wendy Thomas reported exercising restricted stock units into 34,905 shares of Marqeta Class A Common Stock. This reflects equity compensation vesting rather than an open-market stock purchase or sale, and is exempt under Section 16(b) Rule 16b-6(b) of the Exchange Act.

How many Marqeta (MQ) shares did Wendy Thomas acquire in this transaction?

She acquired 34,905 shares of Marqeta Class A Common Stock through the conversion of restricted stock units. Each RSU converts into one share, so the transaction directly increased her share holdings without involving an open-market trade or disclosed cash consideration.

What are the vesting terms of Wendy Thomas’s Marqeta (MQ) restricted stock units?

One-third of the restricted stock units vest on April 18, 2026, one-third on April 18, 2027, and one-third on April 18, 2028. Vesting is conditioned on her continued service with Marqeta as of each vesting date, aligning compensation with multi-year tenure.

Does this Marqeta (MQ) Form 4 show an insider stock sale or purchase?

No open-market sale or purchase is reported. The Form 4 shows a derivative exercise where restricted stock units converted into 34,905 common shares at a stated price of $0.00 per share, a standard non-cash equity compensation event for a company director.

Is the Wendy Thomas Marqeta (MQ) Form 4 transaction subject to Section 16(b) short-swing rules?

The filing states the transaction is exempt from Section 16(b) of the Exchange Act under Rule 16b-6(b). That rule generally exempts certain derivative exercises like restricted stock unit conversions from short-swing profit recovery provisions that normally apply to insiders.

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

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Accepted by SEC EDGAR 04/21/2026 - 04:29 PM 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).

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^*

Thomas Wendy

(Last) (First) (Middle)

180 GRAND AVENUE

6TH FLOOR

(Street)

OAKLAND CALIFORNIA 94612

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Marqeta, Inc. [ MQ ]

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)
04/18/2026

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
Class A Common Stock	04/18/2026		M(1)		34,905	A	(1)	34,905	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
Restricted Stock Units	(2)	04/18/2026		M			34,905	(3)	(3)	Class A Common Stock	34,905	$0	69,807	D

Explanation of Responses:

1. Transaction exempt from Section 16(b) of the Securities Exchange Act of 1934 (the "Act") pursuant to Rule 16b-6(b) promulgated under the Act.

2. Each restricted stock unit is convertible into one share of Class A Common Stock.

3. One-third (1/3rd) of the restricted stock units vest on each of April 18, 2026, April 18, 2027 and April 18, 2028, subject to the Reporting Person's continued service with the Issuer as of each vesting date.

Remarks:

	/s/ Tracy Foard, Attorney-in-Fact	04/21/2026
	** 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)