Francis Douglas 4
4 · WM TECHNOLOGY, INC. · Filed Feb 20, 2026
Research Summary
AI-generated summary of this filing
WM Technology (MAPS) CEO Francis Douglas Sells 103,019 Shares
What Happened
- Francis Douglas, CEO of WM Technology, sold 103,019 shares of the company's Class V common stock on 2026-02-18. The weighted-average sale price was $0.68 per share, for total proceeds of approximately $69,682. The filing indicates this sale was a "sell-to-cover" to satisfy tax withholding obligations related to vested restricted stock units, not a discretionary open-market trade.
Key Details
- Transaction date: 2026-02-18; Form 4 filed: 2026-02-20 (appears timely).
- Transaction type/code: Sale (S) reported as an open market or private sale; described in the filing as a sell-to-cover for tax withholding (footnote F1).
- Price: Weighted-average $0.68; sale prices ranged from $0.66 to $0.71 (footnote F2).
- Shares owned after transaction: Not specified on this Form 4.
- Share class and structure: These were Class V common shares, which carry voting rights tied to Post-Merger Class A Units and are exchangeable one-for-one for Class A common stock (footnotes F3–F4).
- Ownership notes: Some shares are held by trusts and entities controlled by Mr. Francis (Rebecca Francis Legacy Trust, Ghost Media Group LLC, WM Founders Legacy I LLC, Genco Incentives LLC) and may be attributed to his beneficial ownership (footnotes F5–F8).
Context
- Sell-to-cover transactions are common when restricted stock units vest; they are executed to pay required tax withholding and do not necessarily indicate the insider’s view on the company’s prospects. This filing documents that routine tax-related sale rather than a discretionary sale for investment reasons.
Insider Transaction Report
Form 4
Francis Douglas
DirectorChief Executive Officer10% Owner
Transactions
- Sale
Class A Common Stock
[F1][F2]2026-02-18$0.68/sh−103,019$69,682→ 8,467,787 total
Holdings
- 3,740,393
Class V Common Stock
[F3][F4] - 8,691,425(indirect: By Trust)
Class V Common Stock
[F3][F4][F5] - 8,469,191(indirect: By LLC)
Class V Common Stock
[F3][F4][F6] - 1,468,555(indirect: By LLC)
Class V Common Stock
[F3][F4][F7] - 600,618(indirect: By LLC)
Class V Common Stock
[F3][F4][F8]
Footnotes (8)
- [F1]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.
- [F2]Price reported is a weighted-average sales price. The shares were sold at prices ranging from $0.66 to $0.71. 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.
- [F3]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 4 below) held by such Class V Common Stockholder at the time of such vote.
- [F4]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.
- [F5]Shares are held directly by the Rebecca Francis Legacy Trust dated 5/14/24, of which the Reporting Person is the Investment Trustee.
- [F6]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.
- [F7]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.
- [F8]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.