Company: LGN
Filing Date: 2025-07-15
Form Type: DRS/A
Source: 0000950123-25-006399
Chunk: 190

Company: Legence Corp.
Filing Date: 2025-07-15
Form: DRS/A
Chunk 190
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 unvested, will accelerate and vest upon the occurrence of a Change of Control Exit, subject to
the Series A Profits Interest holder’s continued employment or service with the Company or its subsidiaries through the Change of Control Exit. Unvested Series A Profits Interests are not entitled to distributions from Legence Parent, and the
Exit Interests, even when vested, are not entitled to distributions from Legence Parent until such time as both (x) our Sponsor receives distributions from Legence Parent in an amount equal to or in excess of two and a half (2.5) times the
amount of its cumulative capital contributions to Legence Parent, and (y) our Sponsor receives distributions from Legence Parent in an amount equal to or in excess of the 20% preferred return in respect of its common interests of Legence
Parent. Under the Series A Plan, “Change of Control Exit” generally means (a) any transaction or series of related transactions (including any merger or consolidation) that result in one or more third parties becoming the beneficial
owner, directly or indirectly, of more than 50% of the common interests of Legence Parent; (b) the direct or indirect sale or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all
or substantially all of Legence Parent’s assets and the assets of its subsidiaries, taken as a whole, to one or more third parties (unless the same persons that beneficially own a majority of the common interests immediately prior to the
transaction own, directly or indirectly, equity interests with a majority of the total voting power of all of the outstanding equity interests of the surviving or transferee person immediately after the transaction); or (c) Legence Parent
consolidates with, or merges with or into, any third party pursuant to a transaction in which any of Legence Parent’s outstanding equity interests or the equity interests of such other third party is converted into or exchanged for cash,
securities or other property (other than pursuant to a transaction in which Legence Parent’s membership interests outstanding immediately prior to the transaction constitute, or are converted into or exchanged for, a majority of the equity
securities of the surviving person immediately after giving effect to such transaction), in each case of clauses (a), (b) or (c), including by way of a public offering. We do not expect this offering to constitute a Change of Control Exit.

In January 2021, Mr. Sprau was granted