Company: WBI
Filing Date: 2025-09-18
Form Type: 8-K
Source: 0001193125-25-207591
Chunk: 8

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-18
Form: 8-K
Item: Item 1.01
Chunk 8
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 provided for in the PubCo LLC Agreement, the Shareholders’ Agreement or applicable securities laws or (b) nullify any of the rights of any such shareholder, which rights are explicitly provided for in the Shareholders’ Agreement, unless, in each case, such amendment is approved by the Five Point Members. To the extent such amendment would adversely and disproportionately affect the rights of Devon Holdco or its affiliates under the Shareholders’ Agreement compared to the Five Point Members, then such amendment shall also require the approval of Devon Holdco.

The Shareholders’ Agreement provides that, subject to compliance with applicable law and the rules of the New York Stock Exchange, (a) for so long as the Five Point Members, and certain affiliates beneficially own at least 40% of the outstanding common shares, the Five Point Members shall be entitled to designate a number of directors equal to a majority of the board of directors of the Company (the “board”), plus one director; (b) and for so long as the Five Point Members and such affiliates beneficially own at least 30%, 20% and 10% of the outstanding common shares, the Five Point Members shall be entitled to designate at least three directors, two directors and one director, respectively; and (c) for so long as Devon Holdco and its affiliates beneficially own at least 10% of our outstanding common shares, Devon Holdco shall be entitled to designate one director to the board. For so long as any Initial Shareholder is entitled to designate one or more nominees to the board and notifies the board of its desire to remove, with or without cause, any director previously designated by it to the board, the Company is required to take all necessary action to cause such removal. Further, so long as the Five Point Members or Devon Holdco, as the case may be, collectively with their affiliates beneficially own at least 5% of the outstanding common shares, the Five Point Members, as a group, and Devon Holdco, will each have the right to appoint one board observer, who will be entitled to attend all meetings of the board in a non‑voting, observer capacity; provided, however, that board observers may be excluded from certain materials or meetings necessary to preserve legal privilege, address conflicts of interest or protect sensitive information.

The Shareholders’ Agreement will terminate with respect to each Initial Shareholder upon such Initial Shareholder and its affiliates ceasing to beneficially own at least 5% of the common shares and with respect to the Company when all