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Marti (NYSE American: MRT) sets $2.5M share repurchase plan

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

Marti Technologies, Inc. announced that its board authorized a new share repurchase program allowing the company to buy back up to $2.5 million of its outstanding Class A ordinary shares. The program is effective immediately and runs until October 26, 2026, replacing a prior plan that expired on April 9, 2026.

The board set a maximum repurchase price of $6.00 per share, while the share price was $2.11 as of market close on April 24, 2026. Repurchases may occur in open-market or privately negotiated transactions in line with Rule 10b-18 and applicable regulations, and the board retains discretion to extend, increase, suspend, or discontinue the program.

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Insights

Marti authorizes a flexible $2.5M share repurchase program.

Marti Technologies has authorized up to $2.5 million in Class A share repurchases, with a ceiling of $6.00 per share and an end date of October 26, 2026. This replaces a prior program that recently expired.

The company notes its management will decide timing and size of repurchases based on factors like perceived intrinsic value, market price, liquidity, legal limits, and capital strategy. Repurchases are permitted under Rule 10b-18, which is a common framework intended to reduce market-manipulation concerns.

The board can extend, increase, suspend, or terminate the program, so actual activity will depend on future assessments rather than a fixed schedule or commitment to repurchase the full authorized amount.

Share repurchase authorization $2.5 million Maximum aggregate amount under new repurchase program
Ceiling repurchase price $6.00 per share Maximum price for buybacks set by board
Recent share price $2.11 per share Class A share price as of April 24, 2026 market close
Program end date October 26, 2026 Validity period for new repurchase program
Prior program expiry April 9, 2026 Expiration date of previous repurchase program
share repurchase program financial
"authorized a new share repurchase program under which the Company may repurchase up to $2.5 million"
A share repurchase program is when a company buys back its own shares from the marketplace. This reduces the total number of shares available, which can increase the value of each remaining share and signal confidence in the company's prospects. For investors, it often suggests that the company believes its stock is undervalued or that it has extra cash to return to shareholders.
Class A ordinary shares financial
"may repurchase up to $2.5 million of its outstanding Class A ordinary shares"
Class A ordinary shares are a type of ownership stake in a company that typically grants voting rights to shareholders, allowing them to have a say in important company decisions. They often come with priority in receiving dividends or profits, making them attractive to investors seeking influence and potential income. These shares help distinguish different levels of ownership and rights within a company's stock structure.
Rule 10b-18 regulatory
"in accordance with applicable securities laws and regulations, including Rule 10b-18 of the Securities Exchange Act of 1934"
Rule 10b-18 is a regulation that sets strict rules for how a company's executives and employees can buy back their own company's stock from the market. It helps ensure that these buybacks happen in a fair and transparent way, reducing the chance of market manipulation. This is important for investors because it offers protection against unfair practices and promotes confidence in the integrity of the stock market.
forward-looking statements regulatory
"Certain statements made in this press release constitute forward-looking statements within the meaning of the “safe harbor” provisions"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
mobility super app technical
"Türkiye’s leading mobility super app Marti Technologies, Inc."

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 6-K 

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of April 2026

 

Commission File Number: 001-40588

 

 

Marti Technologies, Inc.

 

 

Buyukdere Cd. No:237

Maslak, 34485

Sariyer/Istanbul, Türkiye

(Address of principal executive office) 

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. 

 

Form 20-F ☒      Form 40-F ☐ 

 

 

 

 

 

EXPLANATORY NOTE

 

On April 27, 2026, Marti Technologies, Inc. (the “Company”) issued a press release announcing that the board of directors of the Company authorized a new share repurchase program under which the Company may repurchase up to $2.5 million of its outstanding Class A ordinary shares until October 26, 2026. The new share repurchase program replaces the Company's prior share repurchase program, which was authorized on January 10, 2024 and expired on April 9, 2026. In addition, the Board established a ceiling price of $6.00 per share for the share repurchases. A copy of the Company’s press release is furnished hereto as Exhibit 99.1.

 

1 

 

EXHIBIT INDEX

 

Exhibit No.

  Description of Exhibit
   
99.1   Press Release of Marti Technologies, Inc., dated April 27, 2026.

 

2 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  MARTI TECHNOLOGIES, INC.
     
Date: April 27, 2026 By: /s/ Oguz Alper Öktem
    Name:  Oguz Alper Öktem
    Title: Chief Executive Officer

 

3 

 

Exhibit 99.1

 

Marti Announces a New Share Repurchase Program

 

Istanbul, Türkiye, April 27, 2026 —Türkiye’s leading mobility super app Marti Technologies, Inc. (“Marti” or the “Company”) (NYSE American: MRT) today announced a new share repurchase program.

 

The Company’s Board of Directors (the “Board”) authorized a new share repurchase program under which the Company may repurchase up to $2.5 million of its outstanding Class A ordinary shares until October 26, 2026 (the “Repurchase Program”). The Repurchase Program replaces the Company's prior share repurchase program, which was authorized on January 10, 2024 and expired on April 9, 2026. In addition, the Board established a ceiling price of $6.00 per share for the share repurchases. As of market close on April 24, 2026, the Company's share price was $2.11.

 

The Repurchase Program is effective immediately and is valid until October 26, 2026. Under the Repurchase Program, the Company may repurchase Class A ordinary shares in privately negotiated or open-market transactions in accordance with applicable securities laws and regulations, including Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The Board may periodically review the Repurchase Program and decide to extend its terms or increase the authorized amount. The Repurchase Program may also be suspended or discontinued by the Board at any time.

 

The specific timing and amount of repurchases will be at the discretion of the Company’s management team, and will depend on a variety of factors, including its assessment of the intrinsic value of the Company’s Class A ordinary shares, the market price of the Company’s Class A ordinary shares, general market and economic conditions, available liquidity, compliance with the Company’s debt and other agreements, applicable legal, regulatory and contractual restrictions and the Company’s capital and business strategy.

 

About Marti:

 

Founded in 2018, Marti is Türkiye’s leading mobility app, offering a wide variety of transportation services. Marti operates a ride-hailing service that matches riders with car, motorcycle, and taxi drivers; offers delivery services; and operates a large fleet of rental e-mopeds, e-bikes, and e-scooters. All of Marti’s offerings are serviced by proprietary software systems and IoT infrastructure. For more information, visit www.marti.tech.

 

Cautionary Note Regarding Forward-Looking Statements:

 

Certain statements made in this press release constitute forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements related to the Repurchase Program and the timing of share repurchases, if any. These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including the risks discussed in the Company’s filings with the U.S. Securities and Exchange Commission, including the Company’s Annual Report on Form 20-F. Marti undertakes no obligation to update publicly any forward-looking statements, whether as a result of future events, new information or otherwise, except as required by law.

 

Investor Contact

 

Marti Technologies, Inc.

Turgut Yilmaz

Investor.relations@marti.tech

 

FAQ

What did Marti Technologies (MRT) announce in its new 6-K filing?

Marti Technologies announced a new share repurchase program authorizing buybacks of up to $2.5 million of its Class A ordinary shares through October 26, 2026, replacing a prior program that expired on April 9, 2026.

How large is Marti Technologies’ new share repurchase program?

The new program authorizes repurchases of up to $2.5 million of Marti’s outstanding Class A ordinary shares. This is a value cap, not a specific share count, and provides flexibility depending on future trading prices and conditions.

What price limits apply to Marti Technologies’ (MRT) share repurchases?

Marti’s board set a ceiling price of $6.00 per share for repurchases under the program. The company noted its share price was $2.11 as of market close on April 24, 2026, providing context for that ceiling.

How long will Marti Technologies’ new buyback program remain in effect?

The repurchase program is effective immediately and is valid until October 26, 2026. The board may review it periodically and has the ability to extend its terms, increase the amount, or suspend or discontinue it.

How will Marti Technologies decide when to repurchase its shares?

Management will decide timing and amount of any repurchases based on factors such as perceived intrinsic value, market price, general market and economic conditions, available liquidity, contractual restrictions, and the company’s broader capital and business strategy.

Under what rules can Marti Technologies (MRT) execute its share repurchases?

Marti may repurchase Class A ordinary shares in open-market or privately negotiated transactions in accordance with applicable securities laws and regulations, including Rule 10b-18 of the Securities Exchange Act of 1934, as amended.

Filing Exhibits & Attachments

1 document