Business Context and Reporting Period
This Form 8-K Current Report was filed by Marqeta, Inc. on August 25, 2026. The filing discloses the appointment of a new executive officer, specifically the Chief Product Officer, effective August 31, 2026.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on executive compensation and appointment details.
Material Changes
The primary material change reported is the appointment of Eugenia Gibbons as Chief Product Officer. Ms. Gibbons joins from Intuit, where she served as General Manager of the Consumer Money Business since April 2025. Her prior experience includes leadership roles at SoFi Technologies, BBVA, and Bank of America.
Compensation and Management Commentary
The filing details the compensatory arrangements for the new Chief Product Officer:
- Base Salary: $475,000 annually.
- Annual Incentive Bonus: Eligible for up to 75% of the annual base salary under the Executive Bonus Plan.
- Sign-on Bonus: A one-time discretionary bonus of $250,000, contingent on remaining employed for at least one year.
- Restricted Stock Units (RSUs): Approximately $8,075,000 in value, vesting over approximately three years (1/3 after one year, followed by quarterly vesting).
- Performance Stock Units (PSUs): Estimated value of $1,425,000, subject to performance goals and targets consistent with the executive team.
- Severance: Eligible for benefits under the Company's Executive Severance Plan.
The filing states there are no family relationships between Ms. Gibbons and other executives or directors, and no reportable transactions under Item 404(a) of Regulation S-K.
Investor Verification Checklist
- Verify the exact vesting schedule and performance metrics for the $1,425,000 PSU grant in future filings.
- Review the full text of the employment agreement referenced as an exhibit in future filings for complete terms.
- Monitor the impact of the new Chief Product Officer on the company's product roadmap and strategic direction.
- Confirm the total equity dilution impact of the $8,075,000 RSU grant relative to the company's current share count.