[Form 4] WM Technology, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Brian Camire, General Counsel of WM Technology, Inc. (MAPS), reported a non-discretionary sale of Class A common stock to satisfy tax withholding on vesting restricted stock units. On 08/18/2025 he sold 90,482 shares at a weighted-average price of $1.1732, with reported per-share sale prices ranging from $1.1501 to $1.1901. After the transaction he beneficially owned 1,933,841 shares. The filing states the sale was a "sell to cover" to satisfy tax withholding and related brokerage fees and was not a discretionary trade by the reporting person.

Positive

• Sale was disclosed as non-discretionary and identified as a sell-to-cover to satisfy tax withholding on vested RSUs
• Filing provides price range and weighted-average price, supporting transparent reporting of the transaction
• Reporting person retains substantial beneficial ownership after the transaction (1,933,841 shares)

Negative

• Insider ownership decreased by 90,482 shares due to the sell-to-cover transaction

Insights

Securities Analyst

TL;DR: Routine sell-to-cover by an insider to satisfy tax obligations; not an indication of discretionary selling.

The Form 4 discloses a tax-withholding sale of 90,482 Class A shares by the issuer's General Counsel at a weighted-average price of $1.1732 on 08/18/2025. The filing explicitly states the sale was to cover taxes on vested RSUs and related fees, which meets common insider reporting patterns and reduces outstanding insider shares by the stated amount. No options or derivative transactions were reported and the reporting person retains 1,933,841 shares after the sale.

Corporate Governance Expert

TL;DR: The disclosure is compliant and transparent, showing customary tax-related disposition rather than strategic divestiture.

The Form 4 provides required details including transaction date, number of shares sold, price range, weighted-average price, and post-transaction beneficial ownership. The explanatory note clarifies the sale satisfied withholding obligations from RSU vesting and was not discretionary, which is important for governance transparency. There is no indication of additional policy-driven plan trades or material changes in control or compensation structure within this filing.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Camire Brian

(Last) (First) (Middle)

C/O WM TECHNOLOGY, INC.

41 DISCOVERY

(Street)

IRVINE CA 92618

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
WM TECHNOLOGY, INC. [ MAPS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	GENERAL COUNSEL

3. Date of Earliest Transaction (Month/Day/Year)
08/18/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	08/18/2025		S(1)		90,482	D	$1.1732(2)	1,933,841	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The sale reported on this Form 4 represents shares required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of restricted stock units, as well as any related brokerage commission fees. The sale satisfies the tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary trade by the Reporting Person.

2. Price reported is a weighted-average sales price. The shares were sold at prices ranging from $1.1501 to $1.1901 The Reporting Person will provide upon request to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.

	/s/ Brian Camire	08/20/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did WM Technology (MAPS) insider Brian Camire sell on 08/18/2025?

He sold 90,482 Class A common shares on 08/18/2025 as reported on Form 4.

Why were the shares sold by the reporting person on Form 4?

The sale was a sell-to-cover transaction to satisfy tax withholding obligations related to the vesting of restricted stock units and to cover brokerage commissions.

At what price were the MAPS shares sold according to the Form 4?

The weighted-average price reported was $1.1732, with individual sale prices ranging from $1.1501 to $1.1901.

How many MAPS shares does Brian Camire beneficially own after the reported sale?

After the transaction he beneficially owned 1,933,841 shares.

Was this transaction discretionary trading by the insider?

No. The filing states the sale was not a discretionary trade and was executed solely to cover tax withholding and related fees.