Compass Diversified Provides Shareholders with 2021 Tax Information

Rhea-AI Summary

Compass Diversified (NYSE: CODI) announced that shareholders can access their individual tax reporting information related to their ownership of CODI by February 21, 2022. The company will mail Investor Tax Reporting packages in early March for shareholders who held shares when CODI was taxable as a publicly traded partnership. CODI emphasizes the importance of checking statements from Broadridge or brokerage firms against trustee tax information. CODI, not subject to federal or state income tax, allows income, losses, deductions, or credits to flow directly to shareholders.

Positive

• CODI is not subject to federal or state income tax, benefiting shareholders as income flows directly to them.

Negative

• None.

WESTPORT, Conn., Feb. 18, 2022 (GLOBE NEWSWIRE) -- Compass Diversified (NYSE: CODI) (“CODI” or the “Company”), an owner of leading middle market businesses, announced today that by 6:00 p.m. Eastern Time Monday, February 21, 2022, shareholders can click on this link: Compass Diversified Tax Package or a link located in the Investor Relations section of the Company’s website that will allow investors access to their individual tax reporting information applicable to their ownership of CODI along with instructions.

Tax Information
In early March, the Company will mail shareholders who held shares during the period in which the Company was taxable as a publicly traded partnership their individual Investor Tax Reporting packages, which contain instructions and a schedule summarizing their allocated share of the Trust’s reportable tax items for the year ended August 31, 2021. While the 2021 K-1s will be mailed in early March, investors are encouraged to access the tax packages online.

Shareholders should check their 2021 tax statements received from Broadridge or from their brokerage firm to ensure that the trustee tax information reported for the company conforms to the information reported by their brokerage firm. If this is not the case, shareholders should contact their broker. Shareholders can also click on this link for additional information: Investor Relations, Tax Information. Shareholders with any questions regarding their Investor Tax Reporting package, should contact Tax Support at 800-573-9088.

CODI is not subject to federal or state income tax and the annual income, losses, deductions or credits of the Trust flows directly to shareholders.

Tax Disclaimer
The tax information above should not be construed as tax advice and is not a substitute for careful tax planning and analysis. Shareholders should consult their own tax advisor regarding the specific federal, state, foreign and other tax consequences to them regarding their ownership of shares of the Company’s common stock.

About Compass Diversified (“CODI”)

CODI owns and manages a diverse set of highly defensible North American middle market businesses. Each of its current subsidiaries is a leader in its niche market. For more information, visit compassdiversified.com.

Leveraging its permanent capital base, long-term disciplined approach and actionable expertise, CODI maintains controlling ownership interests in each of its subsidiaries, maximizing its ability to impact long-term cash flow generation and value creation. The Company provides both debt and equity capital for its subsidiaries, contributing to their financial and operating flexibility. CODI utilizes the cash flows generated by its subsidiaries to invest in the long-term growth of the Company and has consistently generated strong returns through its culture of transparency, alignment and accountability.

Our ten majority-owned subsidiaries are engaged in the following lines of business:

• The design and marketing of purpose-built technical apparel and gear serving a wide range of global customers (5.11);
  
  
• The manufacture of quick-turn, small-run and production rigid printed circuit boards (Advanced Circuits);
  
  
• The design and manufacture of custom packaging, insulation and componentry (Altor Solutions);
  
  
• The manufacture of engineered magnetic solutions for a wide range of specialty applications and end-markets (Arnold Magnetic Technologies);
  
  
• The design, engineering and marketing of dial based fit systems delivering a scientifically proven performance advantage for athletes (BOA Technology);
  
  
• The design and marketing of wearable baby carriers, strollers and related products (Ergobaby);
  
  
• The design, manufacture, and marketing of high-end, one-of-a kind jewelry (Lugano Diamonds);
  
  
• The design and manufacture of baseball and softball equipment and apparel (Marucci Sports);
  
  
• The manufacture and marketing of portable food warming systems used in the foodservice industry, creative indoor and outdoor lighting, and home fragrance solutions for the consumer markets (Sterno); and
  
  
• The design, manufacture and marketing of airguns, archery products, optics and related accessories (Velocity Outdoor).
  

Forward Looking Statements
Certain statements in this press release may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We may use words such as “plans,” “anticipate,” “believe,” “expect,” “intend,” “will,” “should,” “may,” “seek,” “look,” and similar expressions to identify forward-looking statements. The forward-looking statements contained in this press release involve risks and uncertainties. Actual results could differ materially from those implied or expressed in the forward-looking statements for any reason, including the factors set forth in “Risk Factors” and elsewhere in CODI’s annual report on Form 10-K and its quarterly reports on Form 10-Q. Other factors that could cause actual results to differ materially include: changes in the economy, financial markets and political environment; risks associated with possible disruption in CODI’s operations or the economy generally due to terrorism, natural disasters, social, civil and political unrest or the COVID-19 pandemic; future changes in laws or regulations (including the interpretation of these laws and regulations by regulatory authorities); general considerations associated with the COVID-19 pandemic and its impact on the markets in which we operate; and other considerations that may be disclosed from time to time in CODI’s publicly disseminated documents and filings. Undue reliance should not be placed on such forward-looking statements as such statements speak only as of the date on which they are made. Although, except as required by law, CODI undertakes no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise, you are advised to consult any additional disclosures that CODI may make directly to you or through reports that it in the future may file with the SEC, including annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K.

Investor Relations: The IGB Group Leon Berman 212-477-8438 lberman@igbir.com

Media Contact: Joele Frank, Wilkinson Brimmer Katcher Jon Keehner / Kate Thompson / Lyle Weston 212-355-4449

 

FAQ

What is the deadline for accessing CODI's tax reporting information?

Shareholders can access their tax reporting information by 6:00 p.m. ET on February 21, 2022.

When will CODI mail the Investor Tax Reporting packages?

CODI will mail the Investor Tax Reporting packages in early March 2022.

How should shareholders verify their tax information for CODI?

Shareholders should check their 2021 tax statements received from Broadridge or their brokerage firm to ensure accuracy.

Is CODI subject to federal or state income tax?

No, CODI is not subject to federal or state income tax, and tax attributes flow directly to shareholders.