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Marti Technologies (MRT) director receives 3,732-share equity award for Q2 2026 board service

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Lute Douglas reported acquisition or exercise transactions in this Form 4 filing.

Marti Technologies director Lute Douglas received an equity grant as part of regular board compensation. Douglas was awarded 3,732 fully vested Class A Ordinary Shares under the company’s 2023 Incentive Award Plan in lieu of the cash retainer for second quarter 2026 board service.

Following this grant, Douglas directly holds 199,290 Class A Ordinary Shares. This figure includes 36,764 shares underlying restricted stock units that are scheduled to vest on the earlier of the company’s 2026 annual general meeting of shareholders or December 24, 2026, subject to continued service.

Positive

  • None.

Negative

  • None.
Insider Lute Douglas
Role null
Type Security Shares Price Value
Grant/Award Class A Ordinary Shares, par value $0.0001 per share 3,732 $0.00 --
Holdings After Transaction: Class A Ordinary Shares, par value $0.0001 per share — 199,290 shares (Direct, null)
Footnotes (1)
  1. Represents fully-vested Class A Ordinary Shares issued under the Issuer's 2023 Incentive Award Plan in lieu of the reporting person's cash retainer for second quarter of 2026 board service. Includes 36,764 Class A Ordinary Shares underlying restricted stock units granted under the Issuer's 2023 Incentive Award Plan, which vest on the earlier of the Company's 2026 annual general meeting of shareholders or December 24, 2026, subject to continued service.
Equity grant 3,732 shares Fully vested Class A Ordinary Shares granted for Q2 2026 board service
Grant price $0.0000 per share Awarded under 2023 Incentive Award Plan in lieu of cash retainer
Total holdings after grant 199,290 shares Direct Class A Ordinary Shares held by Lute Douglas after transaction
Unvested RSUs 36,764 shares Class A Ordinary Shares underlying RSUs vesting by 2026, subject to service
Transaction code A Grant, award, or other acquisition reported on Form 4
2023 Incentive Award Plan financial
"issued under the Issuer's 2023 Incentive Award Plan in lieu of the reporting person's cash retainer"
fully-vested financial
"Represents fully-vested Class A Ordinary Shares issued under the Issuer's 2023 Incentive Award Plan"
restricted stock units financial
"Includes 36,764 Class A Ordinary Shares underlying restricted stock units granted under the Issuer's 2023 Incentive Award Plan"
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.
cash retainer financial
"in lieu of the reporting person's cash retainer for second quarter of 2026 board service"
annual general meeting of shareholders financial
"which vest on the earlier of the Company's 2026 annual general meeting of shareholders or December 24, 2026"
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Lute Douglas
(Last)(First)(Middle)
C/O MARTI TECHNOLOGIES, INC.
BUYUKDERE CD. NO: 237 MASLAK SARIYER
(Street)
ISTANBUL34485
(City)(State)(Zip)
TURKEY
(Country)		2. Issuer Name and Ticker or Trading Symbol
Marti Technologies, Inc. [ MRT ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
06/30/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Class A Ordinary Shares, par value $0.0001 per share06/30/2026A3,732(1)A$0199,290(2)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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. Represents fully-vested Class A Ordinary Shares issued under the Issuer's 2023 Incentive Award Plan in lieu of the reporting person's cash retainer for second quarter of 2026 board service.
2. Includes 36,764 Class A Ordinary Shares underlying restricted stock units granted under the Issuer's 2023 Incentive Award Plan, which vest on the earlier of the Company's 2026 annual general meeting of shareholders or December 24, 2026, subject to continued service.
/s/ Douglas Lute07/02/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

FAQ

What did Marti Technologies (MRT) director Lute Douglas report in this Form 4?

Lute Douglas reported receiving 3,732 fully vested Class A Ordinary Shares as an equity award. The shares were issued under Marti Technologies’ 2023 Incentive Award Plan instead of a cash retainer for second quarter 2026 board service, reflecting routine director compensation.

How many Marti Technologies (MRT) shares does Lute Douglas hold after this transaction?

After the reported grant, Lute Douglas directly holds 199,290 Class A Ordinary Shares. This total includes both currently outstanding shares and 36,764 shares underlying restricted stock units that are scheduled to vest in 2026, assuming he continues his board service.

Was the June 30, 2026 Marti Technologies (MRT) transaction a market purchase or sale?

The June 30, 2026 transaction was not a market purchase or sale. It was a grant of 3,732 fully vested Class A Ordinary Shares awarded at a price of $0.0000 per share as compensation in lieu of a cash retainer for board service.

What plan governed the share grant to Marti Technologies (MRT) director Lute Douglas?

The share grant was made under Marti Technologies’ 2023 Incentive Award Plan. This plan provided 3,732 fully vested Class A Ordinary Shares in place of Lute Douglas’s second quarter 2026 board cash retainer and also covers his outstanding restricted stock units.

What restricted stock units does Lute Douglas hold at Marti Technologies (MRT)?

Lute Douglas holds restricted stock units covering 36,764 Class A Ordinary Shares under the 2023 Incentive Award Plan. These RSUs will vest on the earlier of Marti Technologies’ 2026 annual general meeting of shareholders or December 24, 2026, contingent on continued board service.

What is the vesting schedule for Lute Douglas’s Marti Technologies (MRT) RSUs?

The 36,764 Class A Ordinary Shares underlying Lute Douglas’s restricted stock units are scheduled to vest on the earlier of Marti Technologies’ 2026 annual general meeting or December 24, 2026. Vesting remains subject to his continued service as a director during this period.