Scott Gordon
WM TECHNOLOGYAbout Scott Gordon
Scott Gordon, age 63, has served as an independent director of WM Technology (MAPS) since June 2021. He is Partner at Chicago Atlantic (since Oct-2024) and previously was CEO and Board Chair of Silver Spike Capital; he co-founded Egg Rock Holdings (Papa & Barkley) and has decades of capital markets experience at Fintech Advisory, Taconic, Caxton, Marathon, Bank of America, ING, and JPMorgan. He holds a BA from Bowdoin College .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Chicago Atlantic | Partner | Oct 2024–present | Cannabis private credit expertise |
| Silver Spike Capital | CEO & Chair | Mar 2019–Oct 2024 | Led cannabis-focused investment manager |
| Silver Spike Acquisition Corp | CEO & Chair | Inception–Jun 2021 | SPAC sponsor leadership |
| Silver Spike Investment Corp (SSIC) | CEO & Chair; Director | 2024 | Signed SEC filings as CEO & Chair, evidencing board role |
| Egg Rock Holdings (Papa & Barkley) | Co-founder & Chair | 2016–present | Cannabis CPG parent; manufacturing/logistics oversight |
| Fintech Advisory | President | 2016–2018 | Family office EM investing |
| Taconic Capital Advisors | Portfolio Manager | 2013–2016 | Multi-strategy PM |
| Caxton Associates | Partner & Portfolio Manager | 2009–2012 | Macro/EM investing |
| Marathon Asset Management | Sr. MD & Head of EM | 2007–2009 | Led EM platform |
| JPMorgan | Founding member, EM business | Early career | Built EM franchise |
External Roles
| Organization | Role | Public/Private | Notes |
|---|---|---|---|
| Chicago Atlantic (incl. Chicago Atlantic BDC) | Partner; Manager signatory on 13G via Chicago Atlantic BDC Advisers | Public BDC exposure | Signed joint 13G filings related to LIEN, evidencing managerial role in affiliated adviser |
| Silver Spike Investment Corp (SSIC) | CEO & Chair; Director | Public BDC | Signed N-14 filings as CEO & Chair |
Board Governance
- Independence: The Board affirmatively determined Gordon is independent under Nasdaq rules .
- Attendance: Board met 8 times in 2024; all directors except Mr. Aquila attended ≥75% of board/committee meetings (Gordon met threshold) . Independent directors held 5 executive sessions .
| Committee | 2024 Membership | Chair | Meetings (2024) |
|---|---|---|---|
| Audit | No | Glen Ibbott (as of Mar 6, 2025; previously Olga Gonzalez) | 8 |
| Compensation | Member | Anthony Bay | 8 |
| Nominating & Corporate Governance | Member | Brenda Freeman | 3 |
| Technology | No | Anthony Bay | 3 |
Fixed Compensation
| Component | Policy Amount | Gordon 2024 Actual |
|---|---|---|
| Annual Board cash retainer | $50,000 | Included in fees |
| Committee chair/member retainers (Audit/Comp/Nom/Tech) | $20,000/$10,000; $15,000/$7,500; $10,000/$5,000; $15,000/$7,500 | Included in fees |
| Additional meeting fees (over 8 meetings) | $1,000 per excess meeting | N/A disclosed |
| Total cash fees paid | — | $68,253 |
Notes: Cash retainers are paid quarterly; pro-rata if joining mid-quarter .
Performance Compensation
- Director equity is RSU-based with time vesting; no performance metrics disclosed for directors .
- Annual director RSU grants: Renewal Term Grant ~$600,000 vesting in 3 equal annual installments over next three annual meeting dates .
- Change-of-control vesting: Portions of New Director, Initial Term, and Renewal Term RSUs accelerate for near-term vesting tranches immediately prior to closing, per policy .
| Metric | Gordon 2024 Value | Vesting/Terms |
|---|---|---|
| Stock awards (ASC 718 grant-date FV) | $551,943 | Service-vesting RSUs, time-based |
| Aggregate stock awards outstanding (shares) | 566,037 | Multi-tranche service vest; CIC partial acceleration |
Other Directorships & Interlocks
| Entity | Relationship | Governance Relevance |
|---|---|---|
| Chicago Atlantic / Chicago Atlantic BDC (LIEN) | Partner/manager signatory | Industry interlock in cannabis finance; potential information flow; requires robust recusal practices |
| Silver Spike Holdings/Sponsor affiliates | MAPS disclosed transactions with Silver Spike affiliates tied to a Board member: $1.1M reimbursable costs, $0.4M promissory note balance at 12/31/2024; legal fees reimbursed ($0.2M in 2024; $0.4M in 2023) related to SEC investigation | Potential related-party exposure; oversight via Audit Committee |
Expertise & Qualifications
- Capital markets and emerging markets portfolio leadership; cannabis sector operator/investor (Egg Rock; Chicago Atlantic; Silver Spike) .
- Governance experience on BDC boards; compensation oversight at MAPS (Compensation Committee member) .
- Education: BA, Bowdoin College .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Class A | Class V Shares | Combined Voting Power |
|---|---|---|---|---|
| Scott Gordon | 446,900 | <1% | — | <1% |
- Director RSU outstanding: 566,037 shares .
- Hedging/Pledging: MAPS prohibits short sales, margin, pledging, derivatives, and hedging by directors and insiders .
Governance Assessment
-
Strengths:
- Independent status; active roles on Compensation and Nominating & Governance committees .
- Attendance met Board’s ≥75% threshold; five independent executive sessions demonstrate board engagement .
- Director pay emphasizes equity with multi-year vesting; robust insider trading and anti-hedging/pledging policy supports alignment .
-
Risks and Red Flags:
- Related-party transactions with Silver Spike affiliates tied to a Board member (promissory note, legal fee reimbursements) present conflict risk; continued monitoring and transparent Audit Committee oversight is critical .
- Industry interlock: current role at Chicago Atlantic (a cannabis lender) could create perceived conflicts if MAPS engages with Chicago Atlantic portfolio companies; clear recusals and disclosure needed .
- Director equity includes change-of-control acceleration (single-trigger for near-term tranches), which may be viewed unfavorably by governance-focused investors .
- Board Chair is the CEO; mitigated by a structured Lead Independent Director role, but still a concentration of power to monitor .
Overall, Scott Gordon brings sector-specific and capital markets expertise valuable to MAPS’s strategic oversight. However, the Silver Spike affiliate transactions and Chicago Atlantic ties warrant proactive conflict management and clear committee-level controls to sustain investor confidence .