Marqeta, Inc. SEC Filings

On September 1, 2025, Marqeta, Inc. Chief Revenue Officer Todd Pollak reported multiple transactions tied to vesting of restricted stock units (RSUs) and performance stock units (PSUs). The filing shows a series of vestings converting RSUs into Class A common shares at $0 per share, adding lots to his beneficial ownership, and simultaneous dispositions where the issuer withheld shares to satisfy tax obligations at $6.17 per share. Following the reported activity, Mr. Pollak beneficially owns multiple tranches of Class A stock and derivative positions including 251,833 RSU-converted shares and PSU balances shown at target and maximum potential levels.

Marqeta insider Michael Milotich, identified as Interim Chief Executive Officer and Chief Financial Officer, reported multiple September 1, 2025 transactions reflecting vesting and net settlement of equity awards. Restricted stock units and performance stock units converted into Class A common stock in several tranches, producing increases in beneficial ownership followed by issuer-withheld share dispositions to satisfy tax obligations at a nominal reported withholding price of $6.17 per share for the market-withheld amounts. The filings show repeated acquisitions of shares at $0 tied to vesting and corresponding dispositions for withholding, with aggregate beneficial ownership in the low hundreds of thousands of Class A shares following these transactions.

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.

Todd Pollak, Chief Revenue Officer of Marqeta, Inc. (MQ), reported the sale of 116,493 shares of Class A common stock on 08/15/2025 at a weighted average price of $6.1886 per share. After the reported sale, Pollak beneficially owned 364,525 shares. The Form 4 indicates the transaction was made pursuant to a written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1, as reflected by the checked box on the form.

Marqeta, Inc. Form 144 notice reports a proposed sale of 116,493 shares of common stock through Morgan Stanley Smith Barney LLC on NASDAQ with an aggregate market value of $719,926.74. The filing shows the shares were acquired as restricted stock units from the issuer on 12/01/2023, with payment dated the same day. The company had 414,971,902 shares outstanding, so the proposed sale represents approximately 0.028% of outstanding shares. The filing states there were no securities sold by the seller in the past three months.

T. Rowe Price Investment Management, Inc. reports beneficial ownership of 30,327,826 shares of Marqeta Inc. common stock, representing 7.0% of the class. The filing shows sole voting power over 30,250,071 shares and sole dispositive power over 30,327,826 shares, indicating T. Rowe Price controls the disposition of its full reported holding.

The filing is made in the form of a Schedule 13G and identifies T. Rowe Price as an investment adviser. Item 10 certifies the securities were acquired and are held in the ordinary course of business and were not acquired to change or influence control of the issuer.

Jason M. Gardner, a director and 10% owner of Marqeta, Inc. (MQ), reported a sale of Class A common stock. On 08/07/2025 he disposed of 2,250,000 shares by sale at a weighted average price of $6.6347 per share, with individual trade prices ranging from $6.36 to $6.835.

The Form 4 shows that following the reported transaction the reporting person beneficially owns 15,399,000 shares indirectly. The shares are held of record by Jason and Jocelyne Gardner as trustees of The Gardner 2008 Living Trust dated March 22, 2008. The filing bears a signature by Tracy Foard, Attorney-in-Fact, dated 08/08/2025.

Marqeta (MQ) Q2 2025 10-Q highlights

• Revenue: Net revenue grew 20% YoY to $150.4 m; six-month revenue up 19% to $289.5 m.
• Volume: Total Processing Volume rose 29% YoY to $91.4 bn, signalling continued customer usage growth.
• Profitability: Gross profit jumped 31% to $104.1 m, lifting gross margin from 63% to 69% after a policy change that accelerated $6.8 m of network incentives.
• Bottom line: GAAP net loss was $0.6 m (-$0.00 per share) versus $119.1 m profit in the prior-year quarter, which had included a $157.7 m one-time reversal of the Executive Chairman award. Adjusted EBITDA turned positive at $28.5 m (19% margin).
• Cash & Liquidity: Cash, equivalents and short-term investments total $821.6 m, down $280 m YTD, mainly from $273 m of share repurchases; $106.9 m remains authorised under the 2025 buy-back.
• Balance sheet: No debt; working-capital ratio 2.7x. Share count fell to 449.5 m from 504.3 m at year-end.
• Key risks: One customer generated 46% of revenue; 66% of processing volume routed through a single issuing bank (Sutton Bank). Outstanding securities litigation filed December 2024. Concentrated revenue and regulatory changes remain material risks.
• Strategic moves: Closed €46 m acquisition of UK/Europe BIN sponsor Transact Payments on 31 Jul 2025 (up to €5 m earn-out) to accelerate EU expansion.

Overall, Marqeta posted strong top-line growth and margin expansion, achieved positive adjusted EBITDA and continued returning capital via buybacks, but remains near break-even on a GAAP basis and more reliant on its largest customer.