Sorry but I would say the first tree shown is a complete loss at this point. It appears all the bark has been removed by something below the cracked portion, with this removal of the bark being the likely reason for the collapsing and discoloration of the foliage.

Not saying the mulching is what killed the first one but if you have the bark chunks touching the stem of the second one also you should pull those back away from it.

Maybe the area will look better with one large shade tree anyway, as we can see from the shapes of these shown here when 50 ft. tall (and not crowded) this variety is not, in fact going to be only 25 ft. wide:

http://www.lakecountynursery.com/lcns%20sell%20sheets/celebration.pdf

And Freeman maple is a crossing of red and silver maples, both large-growing trees. There is every reason to expect any given planting of these to grow over 60 ft tall. With proportionate spreads, except for certain much planted abnormally narrow growing named selections (of which we can see at the above page 'Celzam' is not an example).

probably a goner .... all you can do is wait and see ... even if it hangs on.. it isnt going to get good enough to thrive for a long time ...

if somehow you have a 2 year warranty.. talk to your seller ...

was it ball and burlap or potted ???? ..

i suspect it was heavily damaged prior to you buying it.. but the damage under the bark didnt start to show until now.. i call that tree time ... but this is mere navel gazing.. i dont know how you will figure it out ...

if the other has thrived .. then i would presume you did everything about right with one ... so that only leaves the above theory ... regarding the other ...

the only clue we might find out.. is where is the root flare .... see if you can excavate and find out .... maybe it sunk after planting ...

https://duckduckgo.com/?q=root+flare&t=ffcm&iax=images&ia=images

link below about proper watering ...

ken

https://sites.google.com/site/tnarboretum/Home/planting-a-tree-or-shrub

Looks like a wicked case of sun scald to me. I've seen this on hundreds of young maples. The wound begins to look worse and worse once summer arrives and the injured bark dries out and recedes. Did you have the trunks wrapped or covered during this last winter? The shadow of the tree on the ground shows that side of the trunk is facing a southerly direction.

These two were potted when we got them. Unfortunately there is no warranty.

Once the injured bark dries out and recedes do the trees normally survive?

I did pull the nuggets away from the base and noticed that the bottom of the trunk is much skinnier than where the bark is splitting.

Most trees that suffer sun scald do survive it as long as the injury doesn't go more than halfway around the tree trunk. Then the biggest threat during healing is usually storm winds snapping the tree off at the wound. Unfortunately, it looks like the injury is severe enough that the tree won't likely recover. The sickly look of the leaves is what is most concerning. I suspect the tree may wilt soon from being nearly girdled if not completely. You can wait and see what it does but I'd be prepared to replace the tree in the fall or spring if you really want a tree in that spot in the yard.

you have nothing to lose.. by just a waiting.. and watching.. and seeing what happens ... thats how we learn things ....

except that it is out in front of the house.. where it might piss you off every day ... lol ... for me.. lifes too short to be p.o.'d by trees ...

next planting time for trees is fall ... maybe it will die by then.. and solve the problem ...

ken

Should I be concerned about the reddening of the tips of the other tree?