Mara

=== SEC Form 4 — Statement of Changes in Beneficial Ownership === Document Type: 4 Period of Report: 2026-02-20 10b5-1 Pre-arranged Plan: No --- Issuer --- Name: MARA Holdings, Inc. (MARA) CIK: 0001507605 --- Reporting Owner --- Name: Thiel Frederick G CIK: 0001567383 Role: Director, Officer (Chief Executive Officer) --- Non-Derivative Transactions --- [Transaction #1] Security: Common Stock Date: 2026-02-20 | Code: A (Grant or award) Shares: +752,093 | Price: $0.00 Shares Owned After: 4,907,815 | Ownership: D (Direct) Footnotes: [F1] Reflects a grant of restricted stock units ("RSUs") made to the reporting person under the issuer's Amended and Restated 2018 Equity Incentive Plan, as amended. The RSUs vest in eleven (11) substantially equal quarterly installments during the period beginning on April 1, 2026, and ending on December 31, 2028, subject to the reporting person's continued service to the issuer through each vesting date. Each RSU represents a contingent right to receive one share of the issuer's common stock, par value $0.0001 per share. --- Footnotes (Complete Index) --- F1: Reflects a grant of restricted stock units ("RSUs") made to the reporting person under the issuer's Amended and Restated 2018 Equity Incentive Plan, as amended. The RSUs vest in eleven (11) substantially equal quarterly installments during the period beginning on April 1, 2026, and ending on December 31, 2028, subject to the reporting person's continued service to the issuer through each vesting date. Each RSU represents a contingent right to receive one share of the issuer's common stock, par value $0.0001 per share. --- Signature --- /s/ /s/ Zabi Nowaid, Attorney-in-Fact for Fred Thiel (2026-02-20)