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ATLANTA—Christopher Scott Buchanan, the Chief Operating Officer of Bitcoin Depot Inc. (NASDAQ:BTM), has sold a portion of his holdings in the company, according to a recent SEC filing. Buchanan sold 2,000 shares of Class A common stock on March 3, 2025, under a pre-established Rule 10b5-1 trading plan. The shares were sold at a weighted average price of approximately $1.11 per share, resulting in a total transaction value of $2,211. The transaction comes as BTM’s stock shows mixed signals, with InvestingPro data revealing a significant 17% return over the past week, despite a broader downward trend over the past year.
Following the sale, Buchanan retains direct ownership of 219,276 shares of Bitcoin Depot. The transaction was executed without any equity swap involvement and was part of a trading plan set up in August 2023. Bitcoin Depot, headquartered in Atlanta, is a company involved in the finance services sector, focusing on crypto assets. According to InvestingPro analysis, the company maintains a Fair Value rating suggesting it may be undervalued, with a "Fair" overall financial health score. Investors should note that Bitcoin Depot is scheduled to report its next earnings on March 26, 2025. For deeper insights into BTM’s valuation and 10+ additional ProTips, visit InvestingPro.
In other recent news, Bitcoin Depot Inc. held its Annual Meeting of Stockholders, where shareholders elected seven directors to the company’s Board of Directors. The board members elected include Brandon Mintz, Scott Buchanan, Dan Gardner, Teri G. Fontenot, Daniel Stabile, Bradley Strock, and Tim Vanderham. Additionally, shareholders ratified the appointment of Wolf & Company, P.C. as the independent auditors for the fiscal year ending December 31, 2024. The voting process saw significant participation, with 97.56% of eligible shares casting their votes.
In a separate development, Bitcoin Depot announced that Tim Vanderham, a current board member, plans to resign from the Board and Audit Committee in the first quarter of 2025. Vanderham’s decision to leave is not due to any disagreements with the company, and he will continue his duties until his resignation. The company plans to appoint a new Audit Committee member from its existing directors to meet Nasdaq’s independence and experience requirements. Bitcoin Depot has not provided further details on Vanderham’s departure or potential replacements.
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