WM Technology: lease terminated with $32,400,000 fee

What happened

• WM Technology filed an 8-K reporting that its subsidiary Ghost Management Group, LLC entered into a lease termination agreement with Alameda Square Owner LLC that terminated the lease for 113,692 rentable square feet at 767 S. Alameda Street, Los Angeles, California, effective Oct 7, 2026. The Lease was originally scheduled to expire in Feb 2031.
• The filing reports that the Subsidiary agreed to pay a termination fee of $32,400,000, payable in 53 monthly installments beginning Oct 2026. The termination was conditioned on the landlord executing an agreement with a third-party tenant on or prior to Oct 7, 2026, and the landlord notified the Subsidiary that this condition was satisfied on Oct 7, 2026.
• The filing also reports that on Oct 9, 2026 the Subsidiary entered into a lease agreement with 7th and SM LP for approximately 26,223 rentable square feet at 924 E. 7th Street, Austin, Texas, with an expected commencement on the later of Feb 1, 2027 or delivery of possession.

Key details

• Lease termination fee: $32,400,000, payable in 53 monthly installments beginning Oct 2026.
• Austin lease: approximately 26,223 rentable square feet; aggregate estimated base rent payments of approximately $14,300,000 over the term; term to expire 114 full calendar months after commencement.
• Tenant improvement allowance up to $1,700,000 and initial security (irrevocable standby letter of credit or cash) of approximately $800,000, subject to reduction per the lease.

Why it may matter

• The filing reports Item 1.01 (entry into a material definitive agreement), covering the Lease Termination Agreement in Los Angeles and the new Austin lease agreement.
• A filing does not show why the insider traded or why the company acted.