WM technology director Ibbott sells $46k in shares

William Glen Ibbott, a director at WM Technology, INC. (NASDAQ:MAPS), sold 50,505 shares of Class A Common Stock on June 24, 2025, for approximately $46,040. The shares were sold at prices ranging from $0.9101 to $0.9208. The transaction occurs as MAPS stock, currently trading at $0.93, has declined over 36% in the past six months. According to InvestingPro analysis, the company appears undervalued with strong financial health metrics.

The transaction was reported in a Form 4 filing with the Securities and Exchange Commission (SEC). The filing indicates the sale was executed under a pre-arranged 10b5-1 trading plan adopted by Ibbott on November 18, 2024. The sales were made to cover applicable tax obligations realized upon the vesting of restricted stock units, as well as any related brokerage commission fees. Following the sale, Ibbott directly owns 117,845 shares of the company’s Class A Common Stock.

On the same day, Ibbott also acquired 545,454 shares of Class A Common Stock, representing restricted stock units, at a price of $0. These RSUs will vest in three equal annual installments, beginning with the Issuer’s next annual meeting, subject to certain conditions. Following the acquisition, Ibbott directly owns 663,299 shares.

In other recent news, WM Technology, Inc. reported its Q1 2025 earnings, revealing an earnings per share (EPS) of $0.02, which fell short of the forecasted $0.04. The company also reported revenue of $44.61 million, slightly under the expected $44.65 million, marking a 1% year-over-year increase. Despite these misses, WM Technology maintained financial stability with no outstanding debt and an ending cash balance of $53.3 million. Additionally, the company’s founders withdrew a proposal to buy all outstanding common stock for $1.70 per share, citing "certain external factors" while indicating potential future proposals. WM Technology’s board remains committed to acting in the best interests of all stockholders and has retained Evercore Group L.L.C. and Allen Overy Shearman Sterling US LLP as advisors. Furthermore, the company appointed Baker Tilly as its new independent registered public accounting firm following a merger involving its previous auditor, Moss Adams LLP. Moss Adams had issued an adverse opinion on the effectiveness of internal controls over financial reporting due to material weaknesses, which WM Technology had disclosed in annual reports. These developments highlight WM Technology’s ongoing efforts to navigate a challenging market environment while maintaining a focus on strategic growth and operational efficiency.

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