WM TECHNOLOGY, INC. 8-K

What Happened
WM Technology, Inc. (MAPS) filed an 8-K on Feb 3, 2026 reporting that the board appointed Harry DeMott and Brent Cox as Class II directors effective Feb 1, 2026, and that the company entered into an executive employment agreement with Chief Financial Officer Susan Echard effective Jan 30, 2026. The company also approved an Amended and Restated Non-Employee Director Compensation Policy effective Jan 1, 2026.

Key Details

• CFO employment: Susan Echard’s employment agreement sets an annual base salary of $460,000 and an annual target bonus equal to 65% of base salary. The company terminated the prior Executive Services Agreement with SeatonHill Partners, LP that had provided Echard’s services.
• Severance (Severance Plan): On a change-in-control termination Echard is eligible for (i) 12 months’ base salary lump sum, (ii) 100% of annual target bonus lump sum, (iii) full acceleration of outstanding equity awards (performance awards deemed achieved at target), and (iv) 12 months of group health premium payments. On a regular termination (without cause, outside change-in-control period) she is eligible for 9 months’ base salary continuation, a lump sum equal to 75% of target bonus, and 9 months of health premium payments. Benefits require an executed release.
• Board appointments and pay: DeMott and Cox were designated independent under Nasdaq rules and each received an initial one-time restricted stock unit (RSU) award valued at approximately $400,000, vesting in three equal annual installments on the first three annual meetings after appointment.
• Governance: The company adopted an Amended Non-Employee Director Compensation Policy (effective Jan 1, 2026) and entered into its standard indemnification agreements with the new directors.

Why It Matters
These filings matter to investors because they affect corporate governance and potential future compensation expense. Appointing two independent directors and updating director pay signals changes to board composition and related compensation practices. Converting the CFO from a services arrangement (SeatonHill) to a direct employment contract establishes set pay and severance terms that could result in significant payments and equity acceleration in the event of termination or a change in control. The RSU grants to new directors represent immediate executive compensation charges and future share-based vesting.