Boardroom Alpha
Meeting calendar
CART · Annual meeting · Friday, May 22, 2026

Instacart (MAPLEBEAR Inc

2 nominees · 3 ballot items.

Elect two Class III directors (Meredith Kopit Levien and Lily Sarafan); ratify PricewaterhouseCoopers LLP as independent auditors for 2026; and approve, on a non-binding advisory basis, the compensation of the company’s named executive officers (say-on-pay).

Market cap
$10.9B
1Y TSR
-3.7%
Board grade
C+
Record date
Apr 1, 2026
Filing
DEF 14A
Meeting concluded · May 22, 2026

Follow how the vote landed and what changed on Instacart (MAPLEBEAR Inc’s board — director track records, governance grades, and ongoing monitoring — on the Boardroom Alpha platform.

Proposals

On the ballot3

  1. 1

    Election of Directors

    ManagementBoard: FOR

    Elect two Class III directors, Meredith Kopit Levien and Lily Sarafan, as nominated by the Board to serve until the 2029 annual meeting.

  2. 2

    Ratification of Appointment of Independent Registered Public Accounting Firm

    ManagementBoard: FOR

    Ratify the appointment of PricewaterhouseCoopers LLP as Instacart’s independent registered public accounting firm for the year ending December 31, 2026.

  3. 3

    Non-Binding Advisory Vote to Approve Executive Compensation (Say-on-Pay

    ManagementBoard: FOR

    A non-binding, advisory vote to approve the compensation of the Company’s named executive officers as disclosed in the Proxy Statement, including the Compensation Discussion and Analysis, compensation tables, and related narrative.

    More detail

    This management proposal requests an advisory (non-binding) shareholder vote to approve the compensation disclosed for the Company’s named executive officers, as presented in the Proxy Statement. Management seeks this approval under Section 14A of the Exchange Act to provide stockholders a periodic opportunity to express their view on executive pay (the Company intends to hold the vote annually). The proposal consolidates multiple elements of compensation disclosure—Compensation Discussion and Analysis, tables, and narrative—so the vote is on the total disclosed program rather than any single element. Contextually, the Compensation Committee has recently transitioned to a ‘‘boxcar’’ RSU structure, added transition RSU awards in 2025 to avoid vesting gaps, plans to extend future boxcar vesting to approximately three years, and intends to grant a meaningful portion of the CEO’s 2026 refresh award as performance-based RSUs tied to relative TSR in response to stockholder feedback. The Board and Compensation Committee emphasize that the program is heavily weighted to long-term equity to align management incentives with long-term stockholder value, and they highlight recent governance actions (stock ownership guidelines, enhanced disclosure, and stockholder engagement) taken in response to a 55% advisory support level in 2025. Because the vote is advisory, it does not bind the Board, but the Board commits to consider the outcome and continue engagement; significant negative votes would prompt the Compensation Committee to evaluate changes. Key governance and compensation risks include the size and structure of CEO awards, historical one-time modifications (e.g., modification of a 2022 PSU), and the transition to back-loaded vesting schedules—each of which the committee has sought to address through enhanced disclosure, extended vesting horizons, and introduction of PSUs. For an analyst assessing merit, the proposal signals management’s intent to align pay with multi-year performance while balancing retention in a competitive labor market; the recent actions to adopt PSUs for the CEO and to lengthen vesting indicate responsiveness to investor concerns but also leave open questions about quantum and the effectiveness of measures to tie pay to long-term performance. Overall, a FOR vote reflects support for the Board’s current compensation philosophy and recent corrective actions, while a vote AGAINST or significant negative vote could signal investor dissatisfaction with pay levels, award design, or past modification practices, likely triggering further engagement and potential program adjustments by the Compensation Committee.

Director elections

Nominees on the ballot2

Independent
Tenure on this board
4.8 yrs
Also a director at
Serve Robotics Inc (SERV)
Ownership

Top institutional holders10

Latest 13F quarter
1SC US (TTGP), LTD.9.9%23,209,148$869M
2D1 Capital Partners L.P.9.6%22,558,255$845M
3BlackRock, Inc.4.1%9,712,115$364M
4VANGUARD PORTFOLIO MANAGEMENT LLC3.5%8,285,209$310M
5VANGUARD CAPITAL MANAGEMENT LLC3.3%7,733,941$290M
6STATE STREET CORP2.3%5,511,341$206M
7BlackRock, Inc.2.3%5,363,603$201M
8FMR LLC2.0%4,791,303$179M
9DIMENSIONAL FUND ADVISORS LP1.9%4,479,498$168M
10GCM Grosvenor Holdings, LLC1.8%4,140,924$155M
Filings

Recent key filings

Periodic reports
Definitive proxies
Reference

Frequently asked questions

When is the Instacart (MAPLEBEAR Inc 2026 annual meeting?
Instacart (MAPLEBEAR Inc (CART) holds its 2026 annual shareholder meeting on Friday, May 22, 2026.
What is the record date for the Instacart (MAPLEBEAR Inc 2026 meeting?
The record date for the Instacart (MAPLEBEAR Inc 2026 meeting is Wednesday, April 1, 2026. Shareholders of record on or before that date are eligible to vote.
Who are the director nominees for Instacart (MAPLEBEAR Inc's 2026 meeting?
The board is presenting 2 director nominees at the Instacart (MAPLEBEAR Inc 2026 meeting, listed with their independence status and background.
What proposals will shareholders vote on at the Instacart (MAPLEBEAR Inc 2026 meeting?
Shareholders will vote on 3 proposals at the Instacart (MAPLEBEAR Inc 2026 meeting, each tagged with who proposed it and the board's recommendation.
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