Marqeta CPTO Randy Kern departs; severance of $623,437.50, role not immediately filled

Marqeta, Inc.

Randy Kern ceased as Chief Product and Technology Officer on Nov 1, 2024; transition through Dec 31, 2024.
Severance: lump sum of $623,437.50 (9 months salary + 75% target bonus) plus 9 months COBRA reimbursement.
Company will not immediately fill the CPTO role; responsibilities overseen by other management members.
Transition agreement includes general release of claims and confidentiality obligations; severance conditioned on signing supplemental release.

item 9.01 item 5.02

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Departed

Randy Kern

Chief Product and Technology Officer

MQ · Marqeta, Inc.

Effective: 2024-11-01
Filed: November 12, 2024, 6:59 PM ET

On November 1, 2024, Marqeta announced that Randy Kern was no longer the Chief Product and Technology Officer of the Company, effective immediately (the “Initial Transition Date”).

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Randy Kern departed as Chief Product and Technology Officer at Marqeta, Inc..

Action: departed
Role: Chief Product and Technology Officer

Exact text from the filing

On November 1, 2024, Marqeta announced that Randy Kern was no longer the Chief Product and Technology Officer of the Company, effective immediately (the “Initial Transition Date”).

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Marqeta, Inc. filing history →

Source: SEC EDGAR

accession 0001522540-24-000017

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