Company: FOACW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-052025
Chunk: 160

Company: Finance of America Companies Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 5
Chunk 160
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urchase Agreement if the First Closing has not occurred on or prior to the Initial Outside Date or if the Second Closing has not occurred on or prior to February 27, 2026. In addition, if the First Closing has not occurred on or prior to the Initial Outside Date or if the Second Closing has not occurred on or prior to February 27, 2026, the Blackstone Investor will have the right to transfer its Sold Equity to unaffiliated third parties, and any Sold Equity so transferred will reduce the amount repurchased by the Company under the Amended and Restated Repurchase Agreement.

78

Form of Class B Unit Grant Notice and Class B Unit Agreement; Amendment to Amended and Restated Limited Liability Company Agreement of FOA Equity; Grant of Incentive Units

On November 12, 2025, upon the recommendation of the Compensation Committee and pursuant to the Finance of America Companies Inc. 2021 Omnibus Incentive Plan, the Board of Directors of the Company adopted the form of Class B Unit Grant Notice and Class B Unit Agreement attached as Exhibit 10.9 to this Form 10-Q. The “Incentive Units” contemplated by such form are a new class of units of FOA Equity designated as “Class B Units” that automatically convert into Class A LLC Units upon vesting. On November 12, 2025, the Board of Managers of FOA Equity adopted a corresponding amendment to the Amended and Restated Limited Liability Company Agreement of FOA Equity to provide for such Class B Units, attached as Exhibit 10.8 to this Form 10-Q. 

The Incentive Units vest upon the occurrence of the consummation of a Change in Control (as defined in the Finance of America Companies Inc. 2021 Omnibus Incentive Plan), subject to the officer’s continued employment on the vesting date (unless the officer was terminated without Cause (as defined in the Finance of America Companies Inc. 2021 Omnibus Incentive Plan) or for a Good Reason (as defined in the form of Class B Unit Grant Notice and Class B Unit Agreement) or is no longer employed due to the officer’s death, disability, or, at the discretion of the Board of Directors of the Company, retirement). Upon vesting, the Incentive Units will convert into a number of Class A LLC Units having a fair market value equal to the excess (if any) of the fair market value of the Company’s Class A Common Stock as of the vest