Francis Douglas 4

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.