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

Director Daniel J. Hennessy converted 1,867,604 Class B Ordinary Shares into Class A Ordinary Shares of Compass Digital Acquisition Corp.

Summary

• On July 24, 2024, Daniel J. Hennessy, a director and 10% owner of Compass Digital Acquisition Corp., converted 1,867,604 Class B Ordinary Shares into an equal number of Class A Ordinary Shares.
• Following the transaction, Hennessy indirectly beneficially owns 2,260,941 Class A Ordinary Shares.
• The Class B Ordinary Shares are convertible to Class A Ordinary Shares on a one-for-one basis without additional consideration and have no expiration date.
• The shares are held by HCG Opportunity, LLC, of which HCG Opportunity MM, LLC is the sole member.
• Hennessy is a co-managing member of HCG Opportunity MM and disclaims beneficial ownership except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to a share conversion, indicating a neutral sentiment.

Industry Context

This Form 4 filing is a routine disclosure related to insider transactions and is common for publicly traded companies. It provides transparency into the ownership changes of company insiders.

Stakeholder Impact

• The conversion of shares may have a minor impact on shareholders due to the change in the number of outstanding Class A shares.

Key Dates