WM Technology (MAPS) CEO details voting stake after tax withholding
Rhea-AI Filing Summary
WM TECHNOLOGY, INC. (MAPS) reported that Chief Executive Officer and director Douglas Francis had 142,393 shares of Class A common stock withheld on August 17, 2026 to satisfy tax withholding obligations upon vesting of restricted stock units, at a reference price of $0.402 per share. Following this tax-withholding disposition, Francis directly holds 8,232,623 shares of Class A common stock.
The filing also reports holdings of the company's Class V common stock, which carry voting rights but no economic rights. Francis directly holds 3,740,393 Class V shares, and has indirect beneficial ownership of 8,691,425 Class V shares held through the Rebecca Francis Legacy Trust and entities he controls, including Ghost Media Group, LLC, WM Founders Legacy I, LLC, and Genco Incentives, LLC. Each Class V share is paired with a corresponding Post-Merger Class A Unit of WM Holding Company, LLC, which together are exchangeable on a one-for-one basis into Class A common stock, with exchange rights that do not expire.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 142,393 shares
Net Sell
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 |
|---|---|---|---|---|
| Tax Withholding | Class A Common Stock F1 | 142,393 | $0.402 | $57K |
| holding | Class V Common Stock F2, F3 | -- | -- | -- |
| holding | Class V Common Stock F2, F3, F4 | -- | -- | -- |
| holding | Class V Common Stock F2, F3, F5 | -- | -- | -- |
| holding | Class V Common Stock F2, F3, F6 | -- | -- | -- |
| holding | Class V Common Stock F2, F3, F7 | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 8,232,623 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
Shares withheld for tax withholding: 142,393 shares
Withholding reference price: $0.402 per share
Class A shares held after transaction: 8,232,623 shares
+4 more
7 metrics
Shares withheld for tax withholding
142,393 shares
Class A common stock withheld on August 17, 2026 to satisfy tax withholding obligations upon RSU vesting
Withholding reference price
$0.402 per share
Price used for the 142,393 Class A shares withheld for tax obligations
Class A shares held after transaction
8,232,623 shares
Douglas Francis direct holdings of Class A common stock following the August 17, 2026 transaction
Direct Class V holdings
3,740,393 shares
Direct holdings of Class V common stock by Douglas Francis
Indirect Class V holdings
8,691,425 shares
Indirect Class V holdings through the Rebecca Francis Legacy Trust and controlled LLCs
ExercisePriceOrTaxLiabilityShares
142,393 shares
Aggregate shares involved in payment of tax liability or exercise price events reported in this Form 4
Holding entries reported
5 entries
Number of separate holding lines for Class V common stock in the filing
Key Terms
restricted stock units, Class V common stock, Post-Merger Class A Units, beneficial owner, +1 more
5 terms
restricted stock units financial
"in connection with the 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 ("Class V Common Stock") of the Issuer"
Post-Merger Class A Units financial
"number of Post-Merger Class A Units (as described in footnote 3 below)"
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.
exchangeable on a one-for-one basis financial
"are exchangeable on a one-for-one basis for shares of Class A Common Stock"
FAQ
What transaction did MAPS CEO Douglas Francis report in this Form 4?
Douglas Francis reported a withholding of 142,393 Class A shares of WM TECHNOLOGY, INC. to cover tax withholding obligations tied to restricted stock unit vesting, at a reference price of $0.402 per share, rather than an open-market share sale.
What is MAPS Class V common stock and what rights does it provide?
MAPS Class V common stock provides no economic rights but carries voting rights alongside Class A shares. Each Class V share entitles its holder to votes equal to the number of associated Post-Merger Class A Units held, linking voting power to underlying LLC interests.
AI-generated analysis. How Rhea-AI works. Not financial advice.
