Bitcoin Depot CEO cancels automated stock sale plan

ATLANTA, GA - Bitcoin Depot Inc. (NASDAQ:BTM), a finance services company specializing in crypto assets, announced today that its founder and Chief Executive Officer, Brandon Mintz, has terminated his prearranged 10b5-1 trading plan. The plan, which was established with Piper Sandler to facilitate the systematic sale of Mr. Mintz’s shares, has been canceled effective immediately. The announcement comes as BTM shares trade at $1.37, having declined 48% over the past year. According to InvestingPro analysis, the company currently appears undervalued based on its Fair Value metrics, with additional insights available through their comprehensive analysis tools.

The decision to end the trading plan was made in response to direct feedback from investors. The 10b5-1 trading plan was originally set up around the time of the company’s business combination closure, allowing for scheduled transactions to take place without the influence of any insider knowledge Mr. Mintz may have had. Despite recent price weakness, InvestingPro data shows the company maintains a GOOD financial health score, though analysts anticipate a sales decline in the current year.

The termination of the plan underscores Bitcoin Depot’s commitment to maintaining transparent and fair trading practices. The company, headquartered at 3343 Peachtree Road NE, Suite 750, Atlanta, GA, operates under the ticker symbols BTM for its Class A Common Stock and BTMWW for its Warrants on The Nasdaq Stock Market LLC.

This move by the CEO is significant as it reflects a change in how the company’s stock will be traded by one of its key insiders. The 10b5-1 trading plan is a common tool used by company executives to sell their stock in a pre-planned manner to avoid accusations of insider trading, especially when they might possess non-public, material information.

The information regarding this change in trading plans was conveyed through an 8-K filing with the United States Securities and Exchange Commission on March 17, 2025. As per the filing, no further details were provided about the reasons behind the termination or whether Mr. Mintz plans to establish a new trading plan in the future.

Investors and market watchers often scrutinize changes to insider trading plans for insights into executive sentiment and potential future actions. With the cancellation of the 10b5-1 plan, Mr. Mintz’s future stock transactions will likely be watched closely for indications of his confidence in Bitcoin Depot’s performance and prospects. The company is scheduled to report earnings on March 26, 2025. For deeper insights into BTM’s valuation and growth prospects, including 7 additional ProTips and comprehensive financial metrics, investors can access InvestingPro’s detailed analysis platform.

The announcement is based on a press release statement and forms part of the company’s ongoing communication with its stakeholders.

In other recent news, Bitcoin Depot Inc. held its Annual Meeting of Stockholders, announcing significant governance decisions. Shareholders elected seven directors to the company’s Board of Directors, with Brandon Mintz, Scott Buchanan, Dan Gardner, Teri G. Fontenot, Daniel Stabile, Bradley Strock, and Tim Vanderham receiving substantial support. Additionally, the appointment of Wolf & Company, P.C. as the independent auditors for the fiscal year ending December 31, 2024, was ratified by a large majority. A notable 97.56% of eligible shares participated in the voting process, with 419,379,865 shares cast. The proposal to elect directors passed with overwhelming support, reflecting strong shareholder confidence in the current board. Similarly, the ratification of the auditors saw 418,873,267 votes in favor, with only a minimal opposition of 493,457 votes. This development underscores the shareholders’ endorsement of Bitcoin Depot’s governance and audit practices.

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