Sarah Barkema
MarqetaAbout Sarah Barkema
Sarah Barkema, age 43, is Marqeta’s Chief Accounting Officer and was designated Principal Accounting Officer (PAO) effective October 21, 2025, assuming responsibility for principal accounting functions from the CEO/CFO . She joined Marqeta in September 2024 after serving as Chief Accounting Officer at Stitch Fix and holding finance leadership roles at Fortive and VF Corp; earlier career stops include NW Natural, Nike, and Deloitte & Touche . She holds a BBA in Accounting (University of Iowa) and an MBA in Accounting (Pittsburg State University) . Company performance context during her tenure: FY2024 gross profit rose 7% to $352.6M with gross margin 69%, adjusted EBITDA was $29M, and net income improved to $27M (aided by a one-time SBC reversal); net revenue declined 25% on contract/pricing changes with Cash App; TSR underperformed peers in 2024 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Marqeta | Chief Accounting Officer; Principal Accounting Officer | Sep 2024–present; PAO since Oct 21, 2025 | Leads accounting/reporting and internal controls; signatory on SEC filings (10‑Q) |
| Stitch Fix | Chief Accounting Officer | Nov 2021–Sep 2024 | Led SEC reporting and accounting policy at a public e-commerce apparel firm |
| Fortive | Finance leadership roles | Feb 2018–Nov 2021 | Corporate accounting/reporting in diversified industrials |
| VF Corporation | Finance leadership roles | Oct 2016–Feb 2018 | Accounting/reporting for global apparel |
| NW Natural; Nike; Deloitte & Touche | Accounting and reporting roles | Prior years | Foundation in audit, corporate accounting, SEC reporting |
External Roles
No public company directorships or committee roles disclosed for Barkema .
Fixed Compensation
Not separately disclosed for Barkema in Marqeta’s 2025 proxy; she is not listed among the FY2024 named executive officers whose salaries/bonuses are detailed (NEOs: CEO, CFO, CPTO, CRO, CAO/Secretary) . Company policy highlights for executives: at-will employment, no fixed-term contracts, and no tax gross-ups on change-in-control payments .
Performance Compensation
Not disclosed for Barkema. Company-level executive bonus frameworks (for NEOs) in FY2024 used these metrics: year-over-year revenue growth, gross profit, and adjusted EBITDA; for FY2025 the mix shifted to 50% gross profit, 30% adjusted EBITDA, 20% revenue, with discretion removed . No Barkema-specific PSU metrics or payouts are disclosed.
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership (direct Class A shares) | 82,618 shares held directly as of Oct 21, 2025 . |
| Unvested RSUs (Grant A) | 201,329 RSUs; 1/3 vested on Sep 1, 2025; remaining vest 1/12 quarterly on Dec 1, Mar 1, Jun 1, Sep 1 through Sep 1, 2027 . |
| Unvested RSUs (Grant B) | 16,891 RSUs; 1/12 vested on Jun 1 and Sep 1, 2025; then 1/12 quarterly with final vest on Mar 1, 2028 . |
| Unvested RSUs (Grant C) | 54,153 RSUs; 10% vested Sep 1, 2025; 20% vests Dec 1, 2025; 20% vests Mar 1, 2026; 50% vests Jun 1, 2026 . |
| Upcoming vest cadence | Quarterly vest dates: Mar 1, Jun 1, Sep 1, Dec 1 . |
| Hedging/pledging | Company prohibits short sales, hedging, derivatives, margin, and pledging of shares by officers/directors . |
| Ownership guidelines | Executives must hold stock equal to 1.5x base salary by the later of Feb 2028 or five years from hire; directors 5x retainer; CEO 5x salary . |
| Time to guideline compliance (Barkema) | Hired Sep 2024; deadline is the later of Feb 2028 or Sep 2029 under the guideline framework . |
Upcoming Vesting Schedules (Insider supply signals)
| Grant | Shares | Vest dates and amounts |
|---|---|---|
| RSU Grant A | 201,329 | 67,110 vested Sep 1, 2025; remaining ~134,219 vests ~11,185 per quarter on Dec 1, 2025; Mar 1/Jun 1/Sep 1 each quarter through Sep 1, 2027 . |
| RSU Grant B | 16,891 | ~1,407 vested Jun 1, 2025; ~1,407 vested Sep 1, 2025; then ~1,407 per quarter; final vest Mar 1, 2028 . |
| RSU Grant C | 54,153 | 5,415 on Sep 1, 2025; 10,831 on Dec 1, 2025; 10,831 on Mar 1, 2026; 27,076 on Jun 1, 2026 . |
Notes: Each RSU converts 1:1 to Class A shares upon vest; shares may be withheld to cover taxes .
Employment Terms
| Term | Disclosure |
|---|---|
| Appointment | Designated Principal Accounting Officer effective Oct 21, 2025; Chief Accounting Officer since Sep 2024 . |
| Executive Severance Plan (company-level) | For covered executives other than CEO: 9 months base salary, 75% of annual target bonus, and up to 9 months COBRA upon termination without cause or resignation for good reason; CEO receives 12 months salary and 100% bonus; double-trigger equity acceleration if terminated within 3 months before to 12 months after a change-in-control, subject to release; 280G cut-down applies . |
| 10b5‑1 plan policy | Officers may adopt Rule 10b5‑1 trading plans subject to the Insider Trading Policy . |
| Clawback | Compensation Recovery Policy adopted Aug 2023 per SEC/Nasdaq rules . |
Investment Implications
- Retention and alignment: Multi-year RSU schedules through 2026–2028 create strong retention incentives and predictable insider supply; hedging/pledging prohibitions and ownership guidelines further align incentives with long-term shareholders .
- Insider selling pressure: Expect periodic net share settlement around quarterly vest dates (Mar/Jun/Sep/Dec), with larger blocks in Dec 2025, Mar 2026, and Jun 2026 due to Grant C’s step-ups; monitor Form 4s and any 10b5‑1 adoptions to anticipate flow .
- Compensation alignment: While Barkema-specific bonus design isn’t disclosed, Marqeta’s executive pay program emphasizes gross profit and adjusted EBITDA (and revenue), indicating pay-for-performance linkage across leadership, with no special perquisites and no CIC tax gross-ups .
- Execution risk: As PAO, Barkema is a signatory responsibility on internal controls and reporting; the company disclosed prior material weaknesses and significant control focus, making accounting leadership critical to sustaining improved profitability and investor confidence .