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[8-K] Compass, Inc. Reports Material Event

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K
Rhea-AI Filing Summary

Compass, Inc. disclosed that an Early Release Collar executed in connection with its merger reduced expected share dilution. The Accelerated Share Consideration equals roughly the minimum shares issuable and represents approximately 74% of the Share Consideration. Sellers representing the remaining 26% opted out (the "Non-Accelerated Sellers"); their shares will be determined on the 366th day after closing and delivered in three equal installments in January 2026, 2027, and 2028. The Early Release Collar cut dilution by about 4.1 million shares (鈮�9.3% of the originally contemplated Share Consideration). If Non-Accelerated Seller shares are issued at the same price, dilution would be further reduced by ~1.5 million shares (鈮�3.3%), for a total reduction of 5.6 million shares (鈮�12.6%) and a final Share Consideration of 38.5 million shares. The company states its GAAP guidance for weighted-average basic share count for Q3 2025 already assumed 38.5 million shares, so that guidance is unchanged. The ultimate number depends on the Class A trading price on the 366th day and the company expects to update final dilutive impact in a periodic SEC filing in early 2026.

Compass, Inc. ha comunicato che un Early Release Collar stipulato nell'ambito della fusione ha ridotto la diluizione prevista delle azioni. L'Accelerated Share Consideration corrisponde approssimativamente al minimo numero di azioni emettibili e rappresenta circa il 74% della Share Consideration. I venditori che rappresentano il restante 26% hanno scelto di non aderire (i "Non-Accelerated Sellers"); le loro azioni saranno determinate il 366掳 giorno dopo la chiusura e consegnate in tre rate uguali a gennaio 2026, 2027 e 2028. L'Early Release Collar ha ridotto la diluizione di circa 4,1 milioni di azioni (鈮�9,3% della Share Consideration originariamente prevista). Se le azioni dei Non-Accelerated Sellers verranno emesse allo stesso prezzo, la diluizione si ridurrebbe ulteriormente di ~1,5 milioni di azioni (鈮�3,3%), per una riduzione totale di 5,6 milioni di azioni (鈮�12,6%) e una Share Consideration finale di 38,5 milioni di azioni. La societ脿 dichiara che la sua guidance GAAP per il weighted-average basic share count del Q3 2025 aveva gi脿 assunto 38,5 milioni di azioni, quindi tale guidance rimane invariata. Il numero definitivo dipender脿 dal prezzo di negoziazione delle Class A nel 366掳 giorno e la societ脿 prevede di aggiornare l'impatto diluitivo finale in un deposito periodico alla SEC all'inizio del 2026.

Compass, Inc. inform贸 que un Early Release Collar ejecutado en conexi贸n con su fusi贸n redujo la diluci贸n esperada de acciones. La Accelerated Share Consideration equivale aproximadamente al n煤mero m铆nimo de acciones emitibles y representa aproximadamente el 74% de la Share Consideration. Los vendedores que representan el 26% restante optaron por no adherir (los "Non-Accelerated Sellers"); sus acciones se determinar谩n el d铆a 366 tras el cierre y se entregar谩n en tres cuotas iguales en enero de 2026, 2027 y 2028. El Early Release Collar recort贸 la diluci贸n en alrededor de 4,1 millones de acciones (鈮�9,3% de la Share Consideration originalmente contemplada). Si las acciones de los Non-Accelerated Sellers se emiten al mismo precio, la diluci贸n se reducir铆a adicionalmente en ~1,5 millones de acciones (鈮�3,3%), para una reducci贸n total de 5,6 millones de acciones (鈮�12,6%) y una Share Consideration final de 38,5 millones de acciones. La compa帽铆a indica que su guidance GAAP para el weighted-average basic share count del Q3 2025 ya asum铆a 38,5 millones de acciones, por lo que esa gu铆a no cambia. El n煤mero final depender谩 del precio de negociaci贸n de las Class A en el d铆a 366 y la compa帽铆a espera actualizar el impacto dilutivo final en un filing peri贸dico ante la SEC a comienzos de 2026.

Compass, Inc.鞚� 頃╇硲瓿� 甏�霠暣 觳搓舶頃� Early Release Collar鞚� 鞓堨儊 欤检嫕 頋劃鞚� 欷勳榾雼り碃 瓿奠嫓頄堨姷雼堧嫟. Accelerated Share Consideration鞚� 雽�霝� 氚滍枆 臧�電ロ暅 斓滌爛 欤检嫕 靾橃檧 霃欖澕頃橂┌ 鞝勳泊 Share Consideration鞚� 鞎� 74%毳� 彀頃╇媹雼�. 雮橂ǜ歆� 26%毳� 彀頃橂姅 毵る弰鞚鸽摛鞚� 彀胳棳毳� 瓯半秬(鈥淣on-Accelerated Sellers鈥�)頄堨溂氅�, 鞚措摛鞚� 欤检嫕鞚� 膦呹舶 頉� 366鞚检Ц鞐� 瓴办爼霅橃柎 2026雲�, 2027雲�, 2028雲� 1鞗旍棎 瓯胳硱 靹� 氩堨棎 瓯胳硱 攴犽摫頃橁矊 歆�旮夒惄雼堧嫟. Early Release Collar鞚� 鞎� 410毵� 欤�(鈮�9.3%鞚� 鞗愲灅 鞓堨爼 Share Consideration)毳� 欷勳榾鞀惦媹雼�. Non-Accelerated Sellers鞚� 欤检嫕鞚� 霃欖澕頃� 臧�瓴╈溂搿� 氚滍枆霅� 瓴届毎 頋劃鞚� 於旉皜搿� 鞎� 150毵� 欤�(鈮�3.3%) 臧愳唽頃橃棳 齑� 560毵� 欤�(鈮�12.6%) 臧愳唽頃橁碃 斓滌 Share Consideration鞚� 3,850毵� 欤�臧� 霅╇媹雼�. 須岇偓電� 2025雲� 3攵勱赴 臧�欷戫弶攴� 旮办磮 欤检嫕靾橃棎 雽�頃� GAAP 臧�鞚措崢鞀り皜 鞚措 3,850毵� 欤�毳� 臧�鞝曧晿瓿� 鞛堨柎 氤�瓴届澊 鞐嗠嫟瓿� 氚濏様鞀惦媹雼�. 斓滌 靾橃箻電� 366鞚检Ц鞚� Class A 瓯半灅臧�瓴╈棎 霐半澕 雼澕歆�氅�, 須岇偓電� 2026雲� 齑� 鞝曣赴 SEC 鞝滌稖鞐愳劀 斓滌 頋劃 鞓來枼鞚� 鞐呺嵃鞚错姼頃� 鞓堨爼鞛呺媹雼�.

Compass, Inc. a indiqu茅 qu'un Early Release Collar conclu dans le cadre de sa fusion a r茅duit la dilution d'actions attendue. L'Accelerated Share Consideration correspond approximativement au nombre minimal d'actions 茅mettables et repr茅sente environ 74% de la Share Consideration. Les vendeurs repr茅sentant les 26% restants ont choisi de ne pas adh茅rer (les "Non-Accelerated Sellers"); leurs actions seront d茅termin茅es le 366e jour apr猫s la cl么ture et livr茅es en trois versements 茅gaux en janvier 2026, 2027 et 2028. L'Early Release Collar a r茅duit la dilution d'environ 4,1 millions d'actions (鈮�9,3% de la Share Consideration initialement envisag茅e). Si les actions des Non-Accelerated Sellers sont 茅mises au m锚me prix, la dilution serait encore r茅duite d'environ 1,5 million d'actions (鈮�3,3%), pour une r茅duction totale de 5,6 millions d'actions (鈮�12,6%) et une Share Consideration finale de 38,5 millions d'actions. La soci茅t茅 indique que ses pr茅visions GAAP pour le weighted-average basic share count du T3 2025 supposaient d茅j脿 38,5 millions d'actions, donc cette guidance reste inchang茅e. Le nombre d茅finitif d茅pendra du cours de n茅gociation des Class A au 366e jour et la soci茅t茅 pr茅voit de mettre 脿 jour l'impact dilutif final dans un d茅p么t p茅riodique aupr猫s de la SEC d茅but 2026.

Compass, Inc. gab bekannt, dass ein im Zusammenhang mit der Fusion abgeschlossener Early Release Collar die erwartete Aktienverw盲sserung reduziert hat. Die Accelerated Share Consideration entspricht ungef盲hr der minimal auszugebenden Aktienanzahl und macht etwa 74% der Share Consideration aus. Verk盲ufer, die die verbleibenden 26% repr盲sentieren, haben sich dagegen entschieden (die "Non-Accelerated Sellers"); deren Aktien werden am 366. Tag nach Closing festgelegt und in drei gleichen Raten im Januar 2026, 2027 und 2028 geliefert. Der Early Release Collar reduzierte die Verw盲sserung um etwa 4,1 Millionen Aktien (鈮�9,3% der urspr眉nglich vorgesehenen Share Consideration). Wenn die Aktien der Non-Accelerated Sellers zum selben Preis ausgegeben werden, w眉rde die Verw盲sserung um weitere ~1,5 Millionen Aktien (鈮�3,3%) sinken, was eine Gesamtreduzierung von 5,6 Millionen Aktien (鈮�12,6%) und eine finale Share Consideration von 38,5 Millionen Aktien ergibt. Das Unternehmen stellt fest, dass seine GAAP-Prognose f眉r die gewichtete durchschnittliche Grundaktienzahl im Q3 2025 bereits 38,5 Millionen Aktien zugrunde gelegt hat, sodass diese Prognose unver盲ndert bleibt. Die endg眉ltige Zahl h盲ngt vom Kurs der Class A am 366. Tag ab; das Unternehmen erwartet, die endg眉ltigen verw盲ssernden Auswirkungen Anfang 2026 in einer periodischen SEC-Einreichung zu aktualisieren.

Positive
  • The Early Release Collar reduced expected dilution by approximately 4.1 million shares (鈮�9.3%) from the originally contemplated Share Consideration.
  • If issued at the same price, shares for Non-Accelerated Sellers could further reduce dilution by ~1.5 million shares (鈮�3.3%), totalling a 5.6 million share (鈮�12.6%) reduction.
  • Company guidance for Q3 2025 already assumes the minimum 38.5 million weighted-average basic shares, so near-term EPS guidance is unchanged and incorporates the reduced share count.
Negative
  • A 26% portion of the Share Consideration remains contingent through the 366th day and will be paid in three installments across 2026鈥�2028, leaving residual dilution uncertainty.
  • The final number of shares depends on the Class A trading price on the 366th day and the company does not intend to issue an interim update, delaying clarity until an early-2026 periodic filing.

Insights

TL;DR: Early Release Collar materially reduces potential dilution; guidance already reflects the minimum 38.5M shares, limiting near-term EPS dilution risk.

The Early Release Collar lowered shareholder dilution by an initial 4.1M shares (~9.3%) and could lower it by another 1.5M shares (~3.3%) depending on future share price, for a potential total reduction of 5.6M shares (~12.6%). Management states Q3 2025 weighted-average basic share guidance already assumes the minimum outcome of 38.5M shares, which means reported quarterly per-share metrics should reflect that assumption. The remaining uncertainty centers on the 366th-day pricing for Non-Accelerated Sellers; until that date the precise dilutive impact is unresolved. For valuation models, incorporate the current assumed share count and monitor the early-2026 filing for final allocation details.

TL;DR: The transaction mechanics reduced dilution and staged issuance for certain sellers, preserving flexibility but leaving residual timing and disclosure gaps.

The use of an Early Release Collar to accelerate a sizable portion of share consideration is governance-forward in reducing immediate dilution to shareholders. However, a material portion (26%) remains contingent and will be distributed over three years, which extends stakeholder interest alignment and creates multi-year tracking obligations. The company鈥檚 disclosure that it will not provide an interim update until early 2026 means investors must rely on periodic filings for finalization; robust disclosure at that time will be important for transparency.

Compass, Inc. ha comunicato che un Early Release Collar stipulato nell'ambito della fusione ha ridotto la diluizione prevista delle azioni. L'Accelerated Share Consideration corrisponde approssimativamente al minimo numero di azioni emettibili e rappresenta circa il 74% della Share Consideration. I venditori che rappresentano il restante 26% hanno scelto di non aderire (i "Non-Accelerated Sellers"); le loro azioni saranno determinate il 366掳 giorno dopo la chiusura e consegnate in tre rate uguali a gennaio 2026, 2027 e 2028. L'Early Release Collar ha ridotto la diluizione di circa 4,1 milioni di azioni (鈮�9,3% della Share Consideration originariamente prevista). Se le azioni dei Non-Accelerated Sellers verranno emesse allo stesso prezzo, la diluizione si ridurrebbe ulteriormente di ~1,5 milioni di azioni (鈮�3,3%), per una riduzione totale di 5,6 milioni di azioni (鈮�12,6%) e una Share Consideration finale di 38,5 milioni di azioni. La societ脿 dichiara che la sua guidance GAAP per il weighted-average basic share count del Q3 2025 aveva gi脿 assunto 38,5 milioni di azioni, quindi tale guidance rimane invariata. Il numero definitivo dipender脿 dal prezzo di negoziazione delle Class A nel 366掳 giorno e la societ脿 prevede di aggiornare l'impatto diluitivo finale in un deposito periodico alla SEC all'inizio del 2026.

Compass, Inc. inform贸 que un Early Release Collar ejecutado en conexi贸n con su fusi贸n redujo la diluci贸n esperada de acciones. La Accelerated Share Consideration equivale aproximadamente al n煤mero m铆nimo de acciones emitibles y representa aproximadamente el 74% de la Share Consideration. Los vendedores que representan el 26% restante optaron por no adherir (los "Non-Accelerated Sellers"); sus acciones se determinar谩n el d铆a 366 tras el cierre y se entregar谩n en tres cuotas iguales en enero de 2026, 2027 y 2028. El Early Release Collar recort贸 la diluci贸n en alrededor de 4,1 millones de acciones (鈮�9,3% de la Share Consideration originalmente contemplada). Si las acciones de los Non-Accelerated Sellers se emiten al mismo precio, la diluci贸n se reducir铆a adicionalmente en ~1,5 millones de acciones (鈮�3,3%), para una reducci贸n total de 5,6 millones de acciones (鈮�12,6%) y una Share Consideration final de 38,5 millones de acciones. La compa帽铆a indica que su guidance GAAP para el weighted-average basic share count del Q3 2025 ya asum铆a 38,5 millones de acciones, por lo que esa gu铆a no cambia. El n煤mero final depender谩 del precio de negociaci贸n de las Class A en el d铆a 366 y la compa帽铆a espera actualizar el impacto dilutivo final en un filing peri贸dico ante la SEC a comienzos de 2026.

Compass, Inc.鞚� 頃╇硲瓿� 甏�霠暣 觳搓舶頃� Early Release Collar鞚� 鞓堨儊 欤检嫕 頋劃鞚� 欷勳榾雼り碃 瓿奠嫓頄堨姷雼堧嫟. Accelerated Share Consideration鞚� 雽�霝� 氚滍枆 臧�電ロ暅 斓滌爛 欤检嫕 靾橃檧 霃欖澕頃橂┌ 鞝勳泊 Share Consideration鞚� 鞎� 74%毳� 彀頃╇媹雼�. 雮橂ǜ歆� 26%毳� 彀頃橂姅 毵る弰鞚鸽摛鞚� 彀胳棳毳� 瓯半秬(鈥淣on-Accelerated Sellers鈥�)頄堨溂氅�, 鞚措摛鞚� 欤检嫕鞚� 膦呹舶 頉� 366鞚检Ц鞐� 瓴办爼霅橃柎 2026雲�, 2027雲�, 2028雲� 1鞗旍棎 瓯胳硱 靹� 氩堨棎 瓯胳硱 攴犽摫頃橁矊 歆�旮夒惄雼堧嫟. Early Release Collar鞚� 鞎� 410毵� 欤�(鈮�9.3%鞚� 鞗愲灅 鞓堨爼 Share Consideration)毳� 欷勳榾鞀惦媹雼�. Non-Accelerated Sellers鞚� 欤检嫕鞚� 霃欖澕頃� 臧�瓴╈溂搿� 氚滍枆霅� 瓴届毎 頋劃鞚� 於旉皜搿� 鞎� 150毵� 欤�(鈮�3.3%) 臧愳唽頃橃棳 齑� 560毵� 欤�(鈮�12.6%) 臧愳唽頃橁碃 斓滌 Share Consideration鞚� 3,850毵� 欤�臧� 霅╇媹雼�. 須岇偓電� 2025雲� 3攵勱赴 臧�欷戫弶攴� 旮办磮 欤检嫕靾橃棎 雽�頃� GAAP 臧�鞚措崢鞀り皜 鞚措 3,850毵� 欤�毳� 臧�鞝曧晿瓿� 鞛堨柎 氤�瓴届澊 鞐嗠嫟瓿� 氚濏様鞀惦媹雼�. 斓滌 靾橃箻電� 366鞚检Ц鞚� Class A 瓯半灅臧�瓴╈棎 霐半澕 雼澕歆�氅�, 須岇偓電� 2026雲� 齑� 鞝曣赴 SEC 鞝滌稖鞐愳劀 斓滌 頋劃 鞓來枼鞚� 鞐呺嵃鞚错姼頃� 鞓堨爼鞛呺媹雼�.

Compass, Inc. a indiqu茅 qu'un Early Release Collar conclu dans le cadre de sa fusion a r茅duit la dilution d'actions attendue. L'Accelerated Share Consideration correspond approximativement au nombre minimal d'actions 茅mettables et repr茅sente environ 74% de la Share Consideration. Les vendeurs repr茅sentant les 26% restants ont choisi de ne pas adh茅rer (les "Non-Accelerated Sellers"); leurs actions seront d茅termin茅es le 366e jour apr猫s la cl么ture et livr茅es en trois versements 茅gaux en janvier 2026, 2027 et 2028. L'Early Release Collar a r茅duit la dilution d'environ 4,1 millions d'actions (鈮�9,3% de la Share Consideration initialement envisag茅e). Si les actions des Non-Accelerated Sellers sont 茅mises au m锚me prix, la dilution serait encore r茅duite d'environ 1,5 million d'actions (鈮�3,3%), pour une r茅duction totale de 5,6 millions d'actions (鈮�12,6%) et une Share Consideration finale de 38,5 millions d'actions. La soci茅t茅 indique que ses pr茅visions GAAP pour le weighted-average basic share count du T3 2025 supposaient d茅j脿 38,5 millions d'actions, donc cette guidance reste inchang茅e. Le nombre d茅finitif d茅pendra du cours de n茅gociation des Class A au 366e jour et la soci茅t茅 pr茅voit de mettre 脿 jour l'impact dilutif final dans un d茅p么t p茅riodique aupr猫s de la SEC d茅but 2026.

Compass, Inc. gab bekannt, dass ein im Zusammenhang mit der Fusion abgeschlossener Early Release Collar die erwartete Aktienverw盲sserung reduziert hat. Die Accelerated Share Consideration entspricht ungef盲hr der minimal auszugebenden Aktienanzahl und macht etwa 74% der Share Consideration aus. Verk盲ufer, die die verbleibenden 26% repr盲sentieren, haben sich dagegen entschieden (die "Non-Accelerated Sellers"); deren Aktien werden am 366. Tag nach Closing festgelegt und in drei gleichen Raten im Januar 2026, 2027 und 2028 geliefert. Der Early Release Collar reduzierte die Verw盲sserung um etwa 4,1 Millionen Aktien (鈮�9,3% der urspr眉nglich vorgesehenen Share Consideration). Wenn die Aktien der Non-Accelerated Sellers zum selben Preis ausgegeben werden, w眉rde die Verw盲sserung um weitere ~1,5 Millionen Aktien (鈮�3,3%) sinken, was eine Gesamtreduzierung von 5,6 Millionen Aktien (鈮�12,6%) und eine finale Share Consideration von 38,5 Millionen Aktien ergibt. Das Unternehmen stellt fest, dass seine GAAP-Prognose f眉r die gewichtete durchschnittliche Grundaktienzahl im Q3 2025 bereits 38,5 Millionen Aktien zugrunde gelegt hat, sodass diese Prognose unver盲ndert bleibt. Die endg眉ltige Zahl h盲ngt vom Kurs der Class A am 366. Tag ab; das Unternehmen erwartet, die endg眉ltigen verw盲ssernden Auswirkungen Anfang 2026 in einer periodischen SEC-Einreichung zu aktualisieren.

0001563190FALSE00015631902025-09-032025-09-03

 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 3, 2025
 
 
Compass, Inc.
(Exact name of Registrant as Specified in Its Charter)
 
 
 
Delaware 001-40291 30-0751604
(State or Other Jurisdiction of Incorporation)
 
(Commission File Number)
 
(IRS Employer Identification No.)
 
110 Fifth Avenue, 4th Floor
New York, New York
 10011
(Address of Principal Executive Offices) (Zip Code)
Registrant’s Telephone Number, Including Area Code: (212) 913-9058
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
 
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
 
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
 
Title of Each Class 
Trading Symbol
 
Name of Each Exchange on Which Registered
Class A Common Stock, $0.00001 par value per share COMP The New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
 
 
 


 
Item 7.01.Regulation FD Disclosure.
As reported on Form 8-K filed with the U.S. Securities & Exchange Commission (the “SEC”) by Compass, Inc. (the “Company”) on December 2, 2024, the Company entered into an agreement and plan of merger (the “Merger Agreement”) related to the acquisition of @properties Christie’s International AG真人官方 Estate (the “Transaction”). The Transaction was closed on January 13, 2025 (“Closing”). The equity portion of the consideration payable pursuant to the Merger Agreement was 44.1 million shares of the Company’s Class A common stock (the “Share Consideration”). The Share Consideration was subject to further adjustment (the “Original Collar”) if the value of the Share Consideration on the 366th day following the Closing, determined using the price per share equal to the volume-weighted average price of the Company’s Class A common stock for the 10-trading day period ending on the 366th day following the Closing (the “Post-Closing Share Price”), was (i) greater than $344 million, in which case the Share Consideration would be reduced by a number of shares in an aggregate amount of up to $50 million (determined using the Post-Closing Share Price) or (ii) less than $344 million, in which case the Share Consideration would be increased by a number of shares in an aggregate amount of up to $50 million (determined using the greater of $6.6612 and the Post-Closing Share Price).

As reported in the Company’s Form 10-Q filed with the SEC on May 10, 2025, the terms of the Original Collar were subsequently amended (the “Early Release Collar”) to effect an early payout to certain sellers (“Early Payees”). Pursuant to the terms of the Early Release Collar, if the volume-weighted average price of a share of the Company's Class A common stock trading on the NYSE for any 10 consecutive trading day period was greater than $8.9269 and (ii) the closing trading price of a share of the Company's Class A common stock trading on the NYSE on the last trading day of such 10 consecutive trading day period was greater than or equal to $8.9269, the Early Release Collar would be triggered. On August 27, 2025, the Early Release Collar was triggered and the Company delivered 28.4 million shares (the “Accelerated Share Consideration”) to the Early Payees on August 28, 2025.

The Accelerated Share Consideration represents close to the minimum number of shares that could have been issued to the Early Payees under the Original Collar and represents approximately 74% of the Share Consideration. Under the Early Release Collar, the Company was able to reduce dilution to shareholders by approximately 4.1 million shares, or by approximately 9.3% of the Share Consideration contemplated at the time of the Merger Agreement.

Certain sellers representing the residual 26% of the Share Consideration (“Non-Accelerated Sellers”) chose to be excluded from the Early Release Collar and their portion of the Share Consideration will still be determined on the 366th day following the Closing in January 2026. The shares related to the Non-Accelerated Sellers will be delivered to them in three equal installments in January 2026, 2027, and 2028. If these shares were to be issued at the same price as those shares in the Accelerated Share Consideration pool, the Company would reduce dilution to shareholders by an additional 1.5 million shares or by approximately 3.3% of the Share Consideration contemplated at the time of the Merger Agreement. This would result in a total reduction of 5.6 million shares (including the shares reduced by the Early Release Collar) or a 12.6% reduction from the amount contemplated at the time of the Merger Agreement and a final Share Consideration of 38.5 million shares.

In accordance with U.S. Generally Accepted Accounting Principles (GAAP), the Company's guidance on weighted-average basic share count for Q3 2025 included an assumption of 38.5 million shares, representing the minimum number of shares to be issued in connection with the Transaction. The Company's guidance for weighted-average basic share count for Q3 2025 is unchanged as a result of the aforementioned Early Release Collar.

The total number of shares that will ultimately be issued and included in the weighted-average basic share count will depend on the trading price of the Company’s Class A common stock on the 366th day after the Closing. We do not intend to release an update with the actual number of shares that will be issued at the time it’s determined; although we expect to provide an update of the final dilutive impact in our periodic SEC filing in early 2026.

The information furnished with this Item 7.01 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any other filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
 
  COMPASS, INC.
Date: September 3, 2025  By: /s/ Brad Serwin
   Brad Serwin
   General Counsel and Corporate Secretary

Source:

FAQ

How many shares will Compass (COMP) issue as Share Consideration after the Early Release Collar?

The company states a final Share Consideration of 38.5 million shares represents the minimum assumed; the ultimate number depends on the Class A price on day 366.

By how much did the Early Release Collar reduce dilution in the Compass (COMP) transaction?

The Early Release Collar reduced dilution by about 4.1 million shares (鈮�9.3%); a further 1.5 million shares (鈮�3.3%) reduction is possible, totaling ~5.6 million shares (鈮�12.6%).

Will Compass update investors immediately with the final issued shares?

No; the company does not intend to release an interim update and expects to report the final dilutive impact in a periodic SEC filing in early 2026.

How will this affect Compass鈥檚 Q3 2025 share count guidance?

Compass鈥檚 GAAP guidance for weighted-average basic share count for Q3 2025 already assumes 38.5 million shares, so that guidance is unchanged.

When will Non-Accelerated Sellers receive their shares from Compass (COMP)?

Shares for Non-Accelerated Sellers will be delivered in three equal installments in January 2026, January 2027, and January 2028.
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Compass Inc

NYSE:COMP

COMP Rankings

#1354 Ranked by Market Cap
N/A Ranked by Dividends

COMP Latest News

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COMP Latest SEC Filings

Sep 9, 2025
[D] Compass, Inc. SEC Filing
Sep 9, 2025
[8-K] Compass, Inc. Reports Material Event
Sep 5, 2025
[Form 4] Compass, Inc. Insider Trading Activity
Sep 5, 2025
[Form 4] Compass, Inc. Insider Trading Activity
Sep 2, 2025
[SCHEDULE 13G/A] Compass, Inc. SEC Filing

COMP Stock Data

5.02B
444.54M
1.97%
78.27%
5.9%
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