WM Technology Board Changes and Officer Compensation

TL;DR

WM Tech board shakeup: Director Doniger out, officer pay details emerge.

AI Summary

WM Technology, Inc. announced on July 17, 2024, a change in its board of directors. Specifically, Michael J. Doniger has resigned from his position as a Class II Director. The company also reported on compensatory arrangements for certain officers.

Why It Matters

Changes in board composition can signal shifts in company strategy or governance, while updates on officer compensation are relevant to shareholder interests and executive incentives.

Risk Assessment

Risk Level: low — The filing primarily concerns routine board changes and compensation disclosures, which typically carry low immediate risk.

Key Players & Entities

• WM TECHNOLOGY, INC. (company) — Registrant
• Michael J. Doniger (person) — Resigned Director
• July 17, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.0001 — which registered Class A Common Stock, $0.0001 par value per share MAPS The Nasdaq Gl
• $11.50 — A Common Stock at an exercise price of $11.50 per share MAPSW The Nasdaq Global Sel
• $835,000 — s for fiscal year 2023 in the amount of $835,000, in recognition of the Company's perfor

Filing Documents

• maps-20240717.htm (8-K) — 29KB
• 0001779474-24-000031.txt ( ) — 188KB
• maps-20240717.xsd (EX-101.SCH) — 2KB
• maps-20240717_def.xml (EX-101.DEF) — 15KB
• maps-20240717_lab.xml (EX-101.LAB) — 26KB
• maps-20240717_pre.xml (EX-101.PRE) — 16KB
• maps-20240717_htm.xml (XML) — 4KB

From the Filing

maps-20240717 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 17, 2024 WM TECHNOLOGY, INC. (Exact name of registrant as specified in its charter) Delaware 001-39021 98-1605615 (State or Other Jurisdiction of Incorporation) (Commission File Number) (I.R.S. Employer Identification No.) 41 Discovery Irvine , California 92618 (Address of principal executive offices) (Zip Code) ( 844 ) 933-3627 (Registrant's telephone number, including area code) N/A (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240-13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading symbol(s) Name of each exchange on which registered Class A Common Stock, $0.0001 par value per share MAPS The Nasdaq Global Select Market Warrants, each whole warrant exercisable for one share of Class A Common Stock at an exercise price of $11.50 per share MAPSW The Nasdaq Global Select Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b–2 of the Securities Exchange Act of 1934 (240.12b–2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers Chief Technology Officer Resignation On July 17, 2024, Duncan Grazier, the Chief Technology Officer of WM Technology, Inc., a Delaware corporation (the "Company"), tendered his resignation from his role as Chief Technology Officer, effective July 31, 2024. Mr. Grazier's resignation was not the result of any disagreement between Mr. Grazier and the Company, its management, Board of Directors (the "Board") or any committee thereof, or with respect to any matter relating to the Company's operations, policies or practices. Upon his resignation, Mr. Grazier will remain at the Company in a paid employee advisory role through October 31, 2024 to ensure an effective transition of his duties and responsibilities. The Company has begun a search for a new Chief Technology Officer. The Company intends for that role to be based in Austin, Texas, where the Company plans to establish a new office. Douglas Francis Bonus On July 18, 2024, the Compensation Committee (the "Committee") of the Board, awarded Douglas Francis, Executive Chair of the Board, a discretionary performance bonus for fiscal year 2023 in the amount of $835,000, in recognition of the Company's performance and his individual performance in the role of Executive Chair and principal executive officer, which bonus was considered immediately earned and paid to Mr. Francis by the Company. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: July 23, 2024 WM TECHNOLOGY, INC. By: /s/ Susan Echard Susan Echard Interim Chief Financial Officer

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View this 8-K filing on SEC EDGAR