Both the CEO and CFO sold on the same day with no disclosed trading plan — this coordinated cash-out by the top two executives is a bearish signal, though the dollar amount is modest relative to market cap. Monitor for any subsequent 8-K or earnings pre-announcement that could explain the timing.
Price Chart
Executive Summary
CEO Frederick Thiel and CFO Salman Khan sold a combined $498K in MARA stock on September 17, 2026, at $11.45 per share. The sales are open-market (code S) with no 10b5-1 plan indicated, and represent approximately 0.15% of MARA's market cap — a modest but notable insider cash-out by the top two executives.
Key Financial Metrics
Key Facts
- CEO Frederick Thiel sold 27.5K shares for $315K on 2026-09-17
- CFO Salman Khan sold 16.0K shares for $183K on 2026-09-17
- Total insider sales: $498K at $11.45/share
- No 10b5-1 plan indicated for either sale
- Sales represent ~0.15% of MARA's market cap (based on $326M market cap)
Financial Impact
$498K in insider sales, ~0.15% of market cap
Risk Factors
- Insider sales may signal management's view that shares are overvalued or that near-term headwinds exist
- Bitcoin mining sector volatility could amplify any negative read-through from insider selling
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-MARA-1789772475437 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 25, 2026 4w ago | 8-K | $12.11 $11.17 | ▼ −7.76% | ▼ −8.97% | $7.22 (−40.34%) |
Sep 18, 2026 5w ago | Insider Cluster | $13.28 $12.11 | ▲ +8.81% | ▲ +7.79% | $7.22 (+45.59%) |
Aug 21, 2026 9w ago | Insider Cluster | $11.18 $10.77 | ▲ +3.67% | ▲ +4.14% | $7.22 (+35.38%) |
Aug 19, 2026 9w ago | Insider Cluster | $11.14 $11.87 | ▼ −6.55% | ▼ −5.44% | $7.22 (+35.14%) |
Aug 4, 2026 12w ago | 8-K | $11.75 $9.68 | ▼ −17.62% | ▼ −17.52% | $7.22 (−38.51%) |
Jul 20, 2026 14w ago | Insider Cluster | $12.25 $11.77 | ▼ −3.92% | ▼ −2.69% | $7.22 (−41.02%) |
Jul 9, 2026 15w ago | 8-K | $13.22 $11.42 | ▼ −13.62% | ▼ −13.48% | $7.22 (−45.35%) |
Jun 25, 2026 17w ago | 8-K | $14.54 $12.40 | ▼ −14.72% | ▼ −16.88% | $7.22 (−50.31%) |
Jun 24, 2026 17w ago | Insider Cluster | $13.88 $13.37 | ▼ −3.67% | ▼ −5.24% | $7.22 (−47.95%) |
Jun 22, 2026 18w ago | 8-K | $14.70 $14.03 | ▼ −4.56% | ▼ −5.57% | $7.22 (−50.85%) |
US Market Status
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