Holdings after the transaction
The disclosure left Khan with direct ownership of 1,290,440 common shares in MARA, which trades on Nasdaq under the ticker MARA. He also reported an indirect interest in 535,681 shares held by the S & N Khan Family Trust. Khan and his spouse are the trustees, and the trust's beneficiaries are exclusively immediate family members.
The withholding was recorded under transaction code "F," used for securities delivered or withheld to pay an exercise price or tax obligation. The filing explicitly states that "this transaction was not an open market sale by the reporting person." Zabi Nowaid signed as Khan's attorney-in-fact; the disclosure contained no derivative securities transactions.
Equity award and earlier tax withholdings
Khan's recurring withholdings stem from a 494,798-RSU award disclosed in a February 2026 Form 4, according to StockTitan's filing summaries. Subject to his continued service, the award vests in 11 substantially equal quarterly installments from April 1, 2026, through December 31, 2028. Each vested unit converts into one common share.
StockTitan's summaries show three other recent RSU tax withholdings: 52,307 shares at $11.33 each on September 30, 2026; 9,210 at $11.21 on October 5; and 33,569 at $6.77 on October 30. All three covered taxes associated with vesting, and none was described as an open-market sale.
Separate filings summarized by StockTitan show both a sale and a tax withholding by CEO Frederick G. Thiel during the same period. On October 30, 2026, 40,496 of his shares were withheld for RSU-vesting taxes, a transaction that was not an open-market sale. He then sold 27,505 common shares for $6.79 each on November 2 under a Rule 10b5-1 trading plan adopted June 9, 2026.
Power assets in focus ahead of earnings
MARA shares declined about 4% on November 4, the date of Khan's withholding, Yahoo Finance reported. Riot Platforms gained about 10% that day after announcing that an unnamed frontier AI lab would lease its entire Corsicana, Texas campus. The 15-year agreement covers 910 megawatts of critical IT capacity and is worth about $28 billion during its initial term.
According to Yahoo Finance's analysis, MARA had roughly 1.9 gigawatts of power as of early November 2026 and a joint venture with Starwood Digital Ventures to develop AI campuses at its sites. The company expected to secure at least one AI lease before year-end.
On November 5, 2026, U.S. federal regulators approved MARA's approximately $1.5 billion purchase of Ohio's Long Ridge gas plant. Yahoo Finance reported that the plant generated about $144 million in annualized adjusted EBITDA during the second half of 2025, with that income independent of bitcoin.
MARA's third-quarter 2026 results were scheduled for release after the market close on Monday, November 9. Investors were looking for evidence that the company's power assets could attract AI data-center tenants.
