Form 4: Opal Fuels Director Mark Comora Converts 71.5 Million Shares of Class D Common Stock to Class B

Director Mark Comora reports the conversion of 71.5 million shares of Class D common stock to Class B common stock, impacting beneficial ownership.

Summary

• On March 12, 2024, Mark Comora, a director and significant figure in OPAL Fuels Inc., reported a transaction involving the conversion of 71,500,000 shares of Class D common stock into Class B common stock.
• This conversion was executed by OPAL Holdco LLC, where Comora serves as President and is controlled through Fortistar LLC and its subsidiaries.
• Following the transaction, Comora's indirect beneficial ownership includes 70,877,450 shares of Class D common stock and 71,500,000 shares of Class B common stock through OPAL Holdco LLC.
• Comora also indirectly owns 2,021,587 shares of Class D common stock through Hillman RNG Investments LLC and 880,600 shares of Class A common stock through Fortistar LLC, while directly owning 10,125 shares of Class A common stock.
• The Class B Common Units of OPAL Fuels LLC are redeemable for Class C common stock or a cash payment.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing a stock conversion, which is neutral in sentiment.

Industry Context

This filing reflects changes in the ownership structure of OPAL Fuels, which is relevant in the context of the renewable energy sector and investor interest in companies focused on renewable natural gas (RNG).

Stakeholder Impact

• The conversion of shares may influence the ownership structure and potentially the voting power within OPAL Fuels, impacting shareholders.
• The transaction does not appear to have a direct impact on employees, customers, suppliers, or creditors.

Key Dates