ADW Capital Partners, L.P. 4

What Happened
ADW Capital Management, LLC (reported as a 10% owner through ADW Capital Partners; joint filer with Adam D. Wyden) executed offsetting derivative transactions in Compass Diversified Holdings (CODI) on May 29, 2026. The filing shows a purchase of 10,000 derivative shares at $3.66 each (total $36,600) and a sale of 10,000 derivative shares at $0.74 each (total $7,400). Both transactions are reported as derivative transactions; footnote F4 notes the instruments are "freely exercisable." Because equal amounts were bought and sold the same day, there is no net change in the reported derivative position from these entries alone.

Key Details

• Transaction date: 2026-05-29. Form filed: 2026-06-02 (filed within the two-business-day Section 16 deadline).
• Purchase: 10,000 derivative shares @ $3.66 = $36,600 (code P).
• Sale: 10,000 derivative shares @ $0.74 = $7,400 (code S).
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Notable footnotes: F1 — joint filing by ADW Capital Partners, ADW Capital Management, and Adam D. Wyden; F2 — disclaimer of beneficial ownership except for pecuniary interest; F3 — group-membership disclaimer; F4 — "freely exercisable" (relates to the derivative instruments).
• Filing timeliness: Report appears timely (filed within required two business days).

Context
This filing comes from a 10% institutional owner (not an individual executive). Derivative transactions can reflect option exercises, conversions, or other derivative settlements; the filing labels these as derivative and notes they are freely exercisable but does not detail the exact mechanics. Because the buyer and seller quantities match on the same date, retail investors should not assume a clear directional signal from these entries alone. Purchases can be more informative of insider confidence, but here the simultaneous sale offsets that signal.