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WM technology director Brenda Freeman sells $56957 in stock

Published 27/06/2025, 01:30
WM technology director Brenda Freeman sells $56957 in stock
MAPS
28.71%

Director Brenda Freeman of WM Technology, Inc. (NASDAQ:MAPS), recently sold 62501 shares of Class A Common Stock, according to a Form 4 filing with the Securities and Exchange Commission. The company, currently valued at $155.5 million, has seen its stock decline by 36.5% over the past six months, though InvestingPro analysis suggests the stock is undervalued at current levels. The sales occurred on June 24, 2025, with prices ranging from $0.9101 to $0.9208, resulting in total proceeds of $56957.

Following the transaction, Freeman directly owns 432692 shares of WM Technology, Inc.

The sales were executed under a pre-arranged 10b5-1 trading plan adopted on September 4, 2024. The shares were sold to cover tax withholding obligations related to the vesting of restricted stock units and brokerage commission fees.

In other recent news, WM Technology reported its Q1 2025 earnings, revealing an earnings per share (EPS) of $0.02, which fell short of the forecasted $0.04. The company’s revenue for the quarter was $44.61 million, narrowly missing the expected $44.65 million. Despite these earnings and revenue misses, the company reported a 1% year-over-year revenue increase and an improved cash flow position. In another development, the founders of WM Technology withdrew their proposal to buy the company’s outstanding shares at $1.70 per share, citing "certain external factors" while leaving open the possibility of a future proposal. Additionally, WM Technology appointed Baker Tilly as its new independent auditor following the merger of its previous auditor, Moss Adams, with Baker Tilly US, LLP. The change in auditors came after Moss Adams resigned, although there were no disagreements on accounting principles or practices. The company continues to face challenges in the cannabis market but maintains a strategic focus on data infrastructure and AI capabilities.

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