Compass, Inc. entered into a transaction to restructure the financial obligations of a predecessor to a company that will own certain Sotheby's International Realty franchisees. Compass will become a 51% owner of the common equity of the parent company involved in the transaction. Compass agreed to a 30-month installment payment plan to satisfy outstanding indebtedness. Compass granted TPG (Angelo, Gordon & Co., L.P. affiliates) a 'Put Right' to require Compass to purchase 100% of the parent's senior preferred equity at a formula-determined price. The company has not yet finalized the fair value estimate of the Put Right and expects to complete this in the second quarter Form 10-Q.