Chief Financial Officer Khan Salman Hassan completed a sale of 16,000 shares of MARA Holdings common stock on February 17 at $7.66 per share, according to a Form 4 filed with the Securities and Exchange Commission. The sale produced gross proceeds of $122,560.
The disposition was carried out according to a pre-established Rule 10b5-1 trading plan that Hassan adopted on September 11, 2025. After the transaction, documents show Hassan still indirectly holds 359,165 shares through the S & N Khan Family Trust.
The following day, February 18, Hassan was credited with 509,119 shares of MARA Holdings common stock at an assigned price of $0.00. The filing indicates those shares represent performance-vested restricted stock units, or PSUs, earned under company performance goals covering the period January 1, 2025 through December 31, 2025. As a result of that issuance, Hassan's directly held position increased to 1,534,199 shares.
Market data cited in the filing notes MARA's shares were trading at $7.96 at the time, a level described as close to the companys 52-week low of $6.66. The stock has fallen 48% over the past six months, the filing states.
Additional data referenced in the filing shows MARA trading at a price-to-earnings ratio of 3.7 and that the stock exhibits high volatility. The filing also points readers to a more detailed Pro Research Report covering MARA and more than 1,400 other U.S. equities for investors seeking further analysis.
The filing placed the insider transactions in the broader context of industry and market developments. It notes a wider pullback across Bitcoin mining equities amid a downturn in the cryptocurrency market. As part of that trend, MARA's share price fell 7% as Bitcoin prices declined, the filing reports. Separately, the filing cites comments from Federal Reserve Governor Christopher Waller that initial optimism in the cryptocurrency markets following the 2024 presidential election has diminished during the current market selloff.
Investor sentiment toward MARA has also been shaped by recent analyst activity. Morgan Stanley initiated coverage on MARA Holdings with an Underweight rating and a price target of $8.00, according to the filing. The bank highlighted the company's hybrid approach and its limited transaction history in hosting data centers as constraints on potential upside.
The filing also references a major deal in the asset management sector: CVC's agreement to acquire Marathon Asset Management for up to $1.2 billion, to be structured with $400 million in cash and up to $800 million in CVC equity. That transaction was included in the same reporting context.
Taken together, the insider sale, the large PSU award and the surrounding market and analyst commentary illustrate ongoing dynamics affecting MARA and related cryptocurrency mining stocks. The disclosures in the Form 4 provide a detailed view of the CFO's transactions and the company's recent market backdrop without drawing conclusions beyond the reported facts.