{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-23-005813","form_type":"8-K","ticker":null,"cik":"0001725872","company_name":"BM Technologies, Inc.","filed_at":"2023-01-30T23:59:59+00:00","discovered_at":"2026-05-14T18:03:46.328624+00:00","generated_at":"2026-06-20T06:41:21.264206+00:00","sec_items":["2.05","5.02","7.01","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"BM Technologies launches profit plan cutting 25% of workforce, names new President and CFO","bullets":["Targeted reduction of ~25% of headcount vs. Dec 31, 2022; $18M annualized cost savings expected, ~$15M in 2023.","Restructuring charges of $1.5M to $3.0M anticipated in Q1 2023; actions substantially complete by June 30, 2023.","Jamie Donahue (ex-CTO) elected President; James Dullinger (CAO) adds CFO role as Robert Ramsey moves to corporate development.","Investment banking veteran Raj Singh appointed to Board of Directors effective Jan. 27, 2023.","Strategy shift from becoming a bank to a risk-oriented Fintech with a sponsor-bank model."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-23-005813","json":"https://secwatch.observer/filing/0001213900-23-005813.json","markdown":"https://secwatch.observer/filing/0001213900-23-005813.md","text":"https://secwatch.observer/filing/0001213900-23-005813.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1725872/000121390023005813/0001213900-23-005813-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1725872/000121390023005813/ea172365-8k_bmtech.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-20T06:41:21.264206+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"5df692d497","claim":"James Dullinger was elected as Chief Financial Officer at BM Technologies, Inc..","evidence_excerpt":"Concurrent with the transition of Mr. Ramsey, the Company elected James Dullinger, the Company’s Chief Accounting Officer, to the additional position of Chief Financial Officer.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1725872/000121390023005813/0001213900-23-005813-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"elected"},{"label":"Role","value":"Chief Financial Officer"}],"fact_type":"executive_change"},{"claim_id":"631f22c8e5","claim":"Raj Singh was appointed as Board member at BM Technologies, Inc..","evidence_excerpt":"On January 27, 2023, the Board of Directors (the “Board”) of the Company appointed Raj Singh to serve as a Board member until the Company’s next annual meeting of shareholders.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1725872/000121390023005813/0001213900-23-005813-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Board member"}],"fact_type":"executive_change"},{"claim_id":"6b701047b9","claim":"Robert Ramsey changed role as other at BM Technologies, Inc..","evidence_excerpt":"Effective January 26, 2023, the Company transitioned Robert Ramsey, the Company’s Chief Financial Officer, from that position to a new corporate development role.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1725872/000121390023005813/0001213900-23-005813-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"transitioned"}],"fact_type":"executive_change"},{"claim_id":"8874732c9a","claim":"Jamie Donahue was elected as President at BM Technologies, Inc..","evidence_excerpt":"On January 26, 2023, the Company elected Jamie Donahue, the Company’s Executive Vice President and Chief Technology Officer, as the Company’s President.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1725872/000121390023005813/0001213900-23-005813-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"elected"},{"label":"Role","value":"President"}],"fact_type":"executive_change"},{"claim_id":"5d316faa82bd59fc2cb770533c4f465381d272d0","claim":"BM Technologies, Inc. announced a restructuring with charges of $1.5 million to $3.0 million (approximately 25% as compared to its headcount at December 31, 2022).","evidence_excerpt":"The Company expects the actions necessary to attain these cost reductions will be substantially completed by June 30, 2023. The Company estimates that it will incur $1.5 million to $3.0 million in charges in connection with the Plan, substantially all of which are expected to be incurred in the first quarter of 2023. The charges and timing of such","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1725872/000121390023005813/0001213900-23-005813-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"$1.5 million to $3.0 million"},{"label":"Headcount","value":"approximately 25% as compared to its headcount at December 31, 2022"}],"fact_type":"restructuring_charge"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}