Company: WBI
Filing Date: 2025-09-08
Form Type: S-1/A
Source: 0000950170-25-113383
Chunk: 260

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-08
Form: S-1/A
Chunk 260
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 or SAR may not be amended to reduce the exercise price or grant price or to take any similar action that would have the same economic result.

Clawback

All awards granted under the LTIP are subject to reduction, cancelation or recoupment under any written clawback policy that we may adopt and that we determine must, to the extent required by applicable law, or should apply to awards under the LTIP.

Amendment and Termination

The LTIP will automatically expire on the tenth anniversary of its effective date. The administrator may amend or terminate the LTIP at any time, subject to shareholder approval if required by applicable law, rule or regulation, including the rules of the NYSE and NYSE Texas. The administrator may amend the terms of any outstanding award granted under the LTIP at any time so long as the amendment would not materially and adversely affect the rights of a participant under a previously granted award without the participant’s consent.

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Equity Grants

In connection with this offering, and upon the LTIP becoming effective, we expect to grant awards under the LTIP to our employees with respect to a total of approximately 934,054 of our Class A shares (calculated using the midpoint of the estimated price range set forth on the cover page of this prospectus), including awards of approximately 148,648, 102,702 and 75,675 shares to Mr. Long, Mr. Reitz and Mr. Bolling, respectively. These awards will be in the form of time-vested restricted share units and will vest in equal one-third (1/3) installments on each of the first, second and third anniversaries of the date of grant, subject to such employee’s continued service through each such vesting date.

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### CORPORATE REORGANIZATION
WaterBridge was formed as a Delaware limited liability company by NDB Holdings on April 11, 2025. WaterBridge intends to elect to be classified as a corporation for U.S. federal income tax purposes in connection with the WaterBridge Combination described under “—WaterBridge Combination” above and summarized below. WaterBridge has not conducted and will not conduct any material business operations prior to the completion of the Corporate Reorganization, other than certain activities related to, and undertaken in contemplation of, this offering and in connection with the WaterBridge Combination. Immediately following the consummation of the WaterBridge Combination, OpCo will directly or indirectly own all of