WM Technology CEO has shares withheld for taxes
WM Technology, Inc.'s Chief Executive Officer Douglas Francis reported a tax-related share disposition.
Rhea-AI Filing Summary
WM Technology, Inc.'s Chief Executive Officer Douglas Francis reported a tax-related share disposition. On Class A Common Stock, 92,771 shares were withheld at $0.385 per share to satisfy tax obligations tied to vesting restricted stock units, leaving him with 8,375,016 Class A shares held directly.
Francis also reports substantial indirect holdings of Class V Common Stock through LLCs and a family trust. These Class V shares carry voting rights but no economic rights and are exchangeable, together with related units, into Class A Common Stock on a one-for-one basis.
Positive
- None.
Negative
- None.
Insider Trade Summary
Exercise Price or Tax Liability: 92,771 shares
Exercise Price or Tax Liability
6 txns
Insider
Francis Douglas, Ghost Media Group, LLC, Genco Incentives, LLC, WM Founders Legacy I, LLC, Rebecca Francis Legacy Trust dated 5/14/24, Douglas M. Francis, Trustee
Role
Chief Executive Officer | 10% Owner | 10% Owner | 10% Owner | 10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise Price or Tax Liability | Class A Common Stock | 92,771 | $0.385 | $36K |
| holding | Class V Common Stock | -- | -- | -- |
| holding | Class V Common Stock | -- | -- | -- |
| holding | Class V Common Stock | -- | -- | -- |
| holding | Class V Common Stock | -- | -- | -- |
| holding | Class V Common Stock | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 8,375,016 shares (Direct);
Class V Common Stock — 3,740,393 shares (Direct);
Class V Common Stock — 8,691,425 shares (Indirect, By Trust);
Class V Common Stock — 10,538,364 shares (Indirect, By LLC)
Footnotes (7)
- F1. Represents shares withheld by the Issuer to satisfy tax withholding obligations in connection with the vesting of restricted stock units.
- F2. These shares of Class V common stock ("Class V Common Stock") of the Issuer (as defined below) provide no economic rights in the Issuer to the holder thereof. However, each holder of Class V Common Stock will be entitled to vote with the holders of Class A common stock ("Class A Common Stock") of the Issuer, with each share of Class V Common Stock entitling the holder to a number of votes equal to the number of Post-Merger Class A Units (as described in footnote 3 below) held by such Class V Common Stockholder at the time of such vote.
- F3. Post-Merger Class A Units represent non-voting limited liability company interests of WM Holding Company, LLC. Pursuant to the terms of an exchange agreement, these Class A units and an equivalent number of shares of Class V Common Stock are exchangeable on a one-for-one basis for shares of Class A Common Stock. These exchange rights do not expire.
- F4. Shares are held directly by the Rebecca Francis Legacy Trust dated 5/14/24, of which the Reporting Person is the Investment Trustee.
- F5. Shares are held directly by Ghost Media Group, LLC ("Ghost Media") which is controlled by Mr. Francis. Accordingly, Mr. Francis may be deemed to be a beneficial owner of the shares held by Ghost Media.
- F6. Shares are held directly by WM Founders Legacy I, LLC ("WM Founders") which is controlled by Mr. Francis. Accordingly, Mr. Francis may be deemed to be a beneficial owner of the shares held by WM Founders.
- F7. Shares are held directly by Genco Incentives, LLC ("Genco") which is controlled by Mr. Francis. Accordingly, Mr. Francis may be deemed to be a beneficial owner of the shares held by Genco.
Key Figures
Tax-withheld shares: 92,771 shares
Withholding price: $0.385 per share
Direct Class A holdings: 8,375,016 shares
+5 more
8 metrics
Tax-withheld shares
92,771 shares
Class A Common Stock withheld for tax obligations on RSU vesting
Withholding price
$0.385 per share
Value used for tax-withholding disposition of Class A shares
Direct Class A holdings
8,375,016 shares
Douglas Francis’s direct Class A Common Stock after withholding
Class V via LLC (Ghost Media example)
8,469,191 shares
Class V Common Stock held indirectly through an LLC
Class V via trust
8,691,425 shares
Class V Common Stock held indirectly through Rebecca Francis Legacy Trust
Additional LLC Class V holding
1,468,555 shares
Class V Common Stock held indirectly through another LLC
Smaller LLC Class V holding
600,618 shares
Class V Common Stock held indirectly through an LLC
Direct Class V holding
3,740,393 shares
Class V Common Stock reported as directly held
Key Terms
restricted stock units, Class V Common Stock, tax withholding obligations, Post-Merger Class A Units, +2 more
6 terms
restricted stock units financial
"vesting of restricted stock units"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Class V Common Stock financial
"These shares of Class V common stock provide no economic rights"
tax withholding obligations financial
"shares withheld by the Issuer to satisfy tax withholding obligations"
Post-Merger Class A Units financial
"Post-Merger Class A Units represent non-voting limited liability company interests"
exchange agreement financial
"Pursuant to the terms of an exchange agreement, these Class A units and Class V"
A written deal in which two parties agree to swap assets, securities or obligations under set terms—think of it as a formal swap or trade contract. For investors it matters because such agreements can change who owns what, alter a company’s capital structure, affect future cash flows or dilute existing shares, and therefore influence value and risk in a straightforward, contract-driven way.
beneficial owner financial
"Accordingly, Mr. Francis may be deemed to be a beneficial owner of the shares"
A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did WM Technology (MAPS) disclose for CEO Douglas Francis?
WM Technology disclosed a tax-related share disposition for CEO Douglas Francis. The company reported that shares of Class A Common Stock were withheld to cover tax obligations arising from the vesting of restricted stock units, rather than an open-market purchase or sale transaction.
Was WM Technology CEO Douglas Francis’s Form 4 transaction an open-market sale?
No, the Form 4 reports a tax-withholding disposition, not an open-market sale. The 92,771 Class A shares were surrendered to the issuer at $0.385 per share specifically to satisfy tax obligations from restricted stock unit vesting, a routine compensation-related event.
What is WM Technology’s Class V Common Stock reported in this Form 4?
Class V Common Stock provides voting rights but no economic rights. Each Class V share votes with Class A stock and corresponds to Post-Merger Class A Units that are exchangeable one-for-one into Class A Common Stock, giving holders governance influence without direct economic participation in the issuer.
How does Douglas Francis hold indirect voting interests in WM Technology (MAPS)?
Douglas Francis holds indirect voting interests through LLCs and a family trust. Entities such as Ghost Media Group, WM Founders Legacy I, Genco Incentives, and the Rebecca Francis Legacy Trust hold Class V Common Stock, and he may be deemed a beneficial owner of shares those entities control.
AI-generated analysis. How Rhea-AI works. Not financial advice.
