Mastercard Incorporated Chief Financial Officer Ling Hai filed a Form 4 on November 3, 2026, disclosing the exercise of employee stock options and the same-day sale of the resulting Class A Common Stock shares on October 30 and November 2, 2026, under a pre-established Rule 10b5-1 trading plan.

Key Highlights

  • Two exercise transactions: Ling Hai exercised 4,318 employee stock options on October 30, 2026, and 4,317 options on November 2, 2026, each at an exercise price of $112.31 per share.
  • Shares sold: 4,318 shares were sold on October 30, 2026, at $642.43 per share, and 4,317 shares were sold on November 2, 2026, at $641.00 per share.
  • Remaining direct ownership: Following both sets of transactions, Ling Hai directly held 35,750.5 shares of Class A Common Stock, according to the filing.
  • Original option grant: According to the filing, the 12,952 employee stock options exercised across these transactions were originally awarded on March 1, 2017, and had previously fully vested.
  • Pre-planned trading plan: The filing states all transactions were made pursuant to a Rule 10b5-1 plan adopted on December 10, 2025, for personal financial management purposes.
  • No remaining options: After the November 2, 2026, exercise, the number of derivative securities beneficially owned by Ling Hai fell to zero, per the filing.

Ling Hai's October and November 2026 Option Exercises at Mastercard

According to the Form 4 filed with the SEC on November 3, 2026, Ling Hai, who serves as Chief Financial Officer of Mastercard Incorporated (NYSE:MA), executed two separate option exercise-and-sale sequences. On October 30, 2026, Hai exercised 4,318 employee stock options at an exercise price of $112.31, acquiring 4,318 shares of Class A Common Stock, and immediately sold those same 4,318 shares at a price of $642.43 per share. Following that pair of transactions, the filing reports direct beneficial ownership of 35,750.5 shares.

A second set of transactions occurred on November 2, 2026. The filing discloses that Hai exercised an additional 4,317 employee stock options, again at the $112.31 exercise price, acquiring 4,317 shares, and sold all 4,317 shares at $641.00 per share. After this second exercise and sale, the filing indicates that Hai's directly held share count remained at 35,750.5 and the total number of derivative securities beneficially owned dropped to zero.

The filing notes that the underlying options were part of a grant of 12,952 employee stock options awarded on March 1, 2017, with an expiration date of March 1, 2027, and that those options had previously fully vested. All transactions were carried out under a pre-planned trading arrangement adopted December 10, 2025, intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) of the Securities Exchange Act of 1934. The filing was signed by Craig Brown as attorney-in-fact for Ling Hai, pursuant to a power of attorney dated June 23, 2025. Mastercard is a global payments technology company whose Class A Common Stock is listed on the NYSE.

What Was Disclosed

The filing reports two option exercise-and-sale events by Mastercard's CFO Ling Hai on October 30 and November 2, 2026, covering a combined 8,635 options originally granted in 2017, all executed under a Rule 10b5-1 plan adopted in December 2025.