Maplebear Chief Legal Officer Sells Shares for $815K
Morgan Fong, Chief Legal Officer at Maplebear Inc. (CART), sold 18,390 shares on July 22, 2026, generating approximately $815,400 in proceeds based on a weighted average sale price of $44.34 per share. The transaction involved the exercise and immediate sale of stock options at an exercise price of $7.32 per share. Following this activity, Fong still holds 91,950 unvested or vested stock options along with a direct ownership stake in 544,078 shares, representing a total beneficial interest of over 636,000 shares. The sale appears to be part of a pre-planned transaction under Rule 10b5-1 and is not expected to signal broader concerns for investors. Maplebear Inc., which operates as Instacart, reported trailing twelve-month revenue of $3.9 billion with net income of $485 million on July 22, 2026. The company has a market capitalization of $10.0 billion and is positioned as an essential technology provider for the grocery retail ecosystem.
Tickers: $CART