Company: LGN
Filing Date: 2025-05-14
Form Type: DRS/A
Source: 0000950123-25-005247
Chunk: 173

Company: Legence Corp.
Filing Date: 2025-05-14
Form: DRS/A
Chunk 173
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 20% but at least 5% of the voting power of our capital stock entitled to vote generally in the election of directors, they will have the right to
designate or nominate one director to our board of directors.

In evaluating director candidate’s qualifications, we will assess
whether a candidate possesses the integrity, judgment, knowledge, experience, skills and expertise that are likely to enhance our ability to manage and direct our affairs and business, including the ability of our board of directors’
committees. Our directors hold office until the earlier of their death, resignation, retirement, disqualification or removal or until their successors have been duly elected and qualified.

Status as a Controlled Company

Because
Blackstone will own over a majority of our outstanding Common Stock following the completion of this offering, we expect to be a controlled company under the Nasdaq corporate governance standards. A controlled company need not comply with the
applicable corporate governance rules that its board of directors have a majority of independent directors and independent compensation and nominating and governance committees. Notwithstanding our status as a controlled company, we will remain
subject to the applicable corporate governance standard that requires us to have an audit committee composed entirely of independent directors. As a result, our audit committee must have at least one independent director by the date our Class A
Common Stock is listed on the Nasdaq, as applicable, at least two independent directors within 90 days of the listing date and at least three independent directors within one year of the listing date.

While these exemptions will apply to us as long as we remain a controlled company, we expect that our board of directors will nonetheless
consist of a majority of independent directors within the meaning of the Nasdaq listing standards currently in effect and that we will have independent compensation and nominating and governance committees.

Committees of the Board of Directors

Upon the conclusion of this offering, we intend to have an audit committee, a compensation committee and a nominating and corporate governance
committee of our board of directors, and we may have such other committees as the board of directors shall determine from time to time. We anticipate that each of the standing committees of the board of directors will have the composition and
responsibilities described below.

Audit Committee

We will establish an audit committee prior to the completion of this offering. Following completion of this offering, our audit committee will
consist of , and , and will serve as the chairman. As required by the rules of the SEC and listing standards of the Nasdaq, the audit
committee will consist solely of