Company: LGN
Filing Date: 2025-12-09
Form Type: S-1
Source: 0001193125-25-312729
Chunk: 287

Company: Legence Corp.
Filing Date: 2025-12-09
Form: S-1
Chunk 287
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 or outstanding. Under the Company’s Amended and Restated Certificate of Incorporation, the Board of Directors may issue shares of preferred stock in one or more series without further approval from holders of common stock. For each series, the Board has the authority to determine the number of shares and to establish the designations, powers, preferences, and rights of such shares, as well as any qualifications, limitations, or restrictions, including dividend rights, conversion or exchange features, voting rights, redemption provisions, and liquidation preferences. Refer to “Note 1—Nature of Operations and Basis of Presentation” for a summary of Member’s Equity and structure prior to the IPO and Corporate Reorganization. Note 11 - Stock-Based Compensation Modifications of Series A Profits Interests and Restricted Series C Common Interests In connection with the IPO, the Company underwent a Corporate Reorganization in which the Series A Profits Interests originally issued by Legence Parent were exchanged for equivalent interests in newly created entities above the consolidated structure of the Company (refer to “Note 1—Nature of Operations and Basis of Presentation”). The Company determined the exchanges were contemporaneous and effectuated as part of the UP-Cstructure. The key terms and vesting conditions of the Rollover Series A Profits Interests and Rollover Restricted Series C Interests remain consistent with those of the original Series A Profits Interests and Restricted Series C Common Interests, respectively. The Corporate Reorganization resulted in a modification of the Series A Profits Interests and Restricted Series C Common Interests, the impact of which is described as follows:

| • |     | Series A Profits Interests - Time Interests: The Time Interests will continue to be remeasured at fair value at                                                                                                                        
 each reporting date with an offset to equity based on indirect capital contributions from the issuers (refer to “Note 2—Summary of Significant Accounting Policies”). As the modification did not result in a change to the fair value 
 measurement approach, no incremental compensation cost was recognized during the period.                                                                                                                                               |

| • |     | Series A Profits Interests - Performance Interests: The modification was determined to be an improbable-to-improbable modification (“Type IV Modification”) under ASC 718. As such, the modification date fair value establishes a new measurement basis for the 
 awards of $14.7 million. Compensation cost will be recognized based on this modified fair value when or if certain liquidity events occur.                                                                                                                       |

F-34

Legence Corp. Notes to Cond