Form 4: Compass Digital Acquisition Corp. CEO Converts Class B Shares to Class A

Thomas D. Hennessy, CEO of Compass Digital Acquisition Corp., converted 1,867,604 Class B Ordinary Shares into Class A Ordinary Shares on July 24, 2024.

Summary

• On July 24, 2024, Thomas D. Hennessy, the CEO of Compass Digital Acquisition Corp., converted 1,867,604 Class B Ordinary Shares into an equal number of Class A Ordinary Shares.
• The conversion was executed at the holder's option on a one-for-one basis without additional consideration and has no expiration date.
• Following the transaction, Hennessy directly owns 2,260,941 Class A Ordinary Shares.
• Hennessy also indirectly owns 832,095 Class A Ordinary Shares through HCG Opportunity, LLC, where he is a co-managing member of HCG Opportunity MM, LLC, the sole member of HCG Opportunity.
• Hennessy disclaims beneficial ownership of these indirectly held securities except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing detailing a share conversion, with no inherent positive or negative sentiment.

Positives

• The conversion of Class B shares to Class A shares simplifies the capital structure of Compass Digital Acquisition Corp.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The conversion of shares may have a minor impact on the overall shareholder structure.

Key Dates