Form 4: Anywhere Real Estate Officer's Equity Changes Post-Merger

An executive at Anywhere Real Estate Inc. reported equity changes following the company's merger with Compass, Inc., converting company stock and awards into Compass shares.

Summary

• Tanya Reu-Narvaez, Executive Vice President and Chief People Officer of Anywhere Real Estate Inc., reported changes in her beneficial ownership of company common stock.
• On January 7, 2026, 66,577 shares of Anywhere Real Estate Inc. common stock were acquired by Ms. Reu-Narvaez, representing shares earned under 2023 Performance Stock Unit (PSU) awards, prior to tax withholding.
• On January 9, 2026, Anywhere Real Estate Inc. completed its merger with Velocity Merger Sub, Inc., a wholly-owned subsidiary of Compass, Inc., with Anywhere Real Estate Inc. surviving as a wholly-owned subsidiary of Compass.
• Pursuant to the merger agreement, each share of Anywhere Real Estate Inc. common stock was converted into the right to receive 1.436 shares of Compass Class A common stock.
• At the effective time of the merger, outstanding PSU awards were canceled and converted into Restricted Stock Unit (RSU) awards in respect of Compass shares, based on performance goals and the 1.436 exchange ratio, resulting in an acquisition of 127,403 shares (Compass equivalent) for Ms. Reu-Narvaez.
• Also at the effective time, outstanding RSU awards were canceled and converted into RSU awards in respect of Compass shares, based on the 1.436 exchange ratio, resulting in a disposition of 394,480 shares (Anywhere Real Estate Inc. equivalent) for Ms. Reu-Narvaez.
• Following these transactions, Ms. Reu-Narvaez's beneficial ownership of Anywhere Real Estate Inc. common stock is 0 shares.

Sentiment

Score: 5

Explanation: The filing is a factual report of insider transactions following a merger, providing no inherent positive or negative sentiment beyond the completion of the corporate event itself.

Positives

• The merger between Anywhere Real Estate Inc. and Compass, Inc. has been successfully completed, indicating a strategic consolidation.
• Equity awards held by the executive were converted into Compass, Inc. restricted stock units, maintaining the executive's incentive alignment with the new parent company.

Future Outlook

The filing does not contain forward-looking statements or guidance, as it primarily reports completed insider transactions related to a merger.

Industry Context

The completion of the merger between Anywhere Real Estate Inc. and Compass, Inc. represents a significant consolidation within the highly competitive U.S. real estate brokerage industry. This event could lead to shifts in market share, operational efficiencies, and competitive dynamics among major players, potentially influencing pricing strategies and agent recruitment across the sector.

Stakeholder Impact

• Shareholders of Anywhere Real Estate Inc. had their shares converted into Compass, Inc. Class A common stock, directly impacting their investment holdings and future performance tied to Compass.
• Employees holding equity awards in Anywhere Real Estate Inc., such as the reporting person, had their awards converted into Compass, Inc. restricted stock units, maintaining their incentive alignment with the new parent company, Compass.

Key Dates

Keywords

Anywhere Real Estate Inc., Compass Inc., Merger, Form 4, Insider Trading, Equity Conversion, PSU, RSU, Stock Ownership, Real Estate Brokerage