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Marqeta (MQ) has shared an announcement.
Jason Gardner will step down as Executive Chairman but remain on the Board, with Jud Linville taking over as independent Chairman upon the transition. Gardner’s departure comes with no disagreements cited and involves a forfeiture of his long-term performance awards, reducing potential company dilution and reversing $157.8 million in related expenses. Additionally, Gardner converted a significant portion of his higher-voting Class B stock into Class A shares, retaining about 40% of the effective voting power. Concurrently, the Board has authorized a $200 million share repurchase program for Class A stock, signaling a commitment to shareholder value and financial flexibility.
See more data about MQ stock on TipRanks’ Stock Analysis page.