Company: LGN
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0002052568-25-000018
Chunk: 76

Company: Legence Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 76
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 compensation expense related to Performance Interests and Exit Interests is approximately $17.0 million and $14.8 million, respectively. As a liquidity event is not considered probable until it occurs, the Company does not estimate the time period for the compensation expense to be recognized.2025 Omnibus Incentive PlanThe Omnibus Incentive Plan allows the Company to issue stock options, stock appreciation rights, RSUs, performance awards and other stock-based awards or cash awards to eligible employees, non-employee directors and consultants.RSUs represent the right to receive shares of the Company's Class A Common Stock upon vesting. Stock options are an option to purchase the Company's Class A Common Stock upon vesting at an exercise price generally equal to the stock price on the date of grant. Unexercised stock options expire ten years after the grant date and, if vested, can be exercised prior to expiration, generally subject to continued employment. RSUs and stock options granted to employees are subject to a graded service-based vesting condition, vesting in three equal installments over three years subject generally to continued employment. RSUs granted to our non-employee directors are subject to a service-based vesting condition, vesting at the earlier of one-year or the annual stockholders' meeting following the grant date, subject generally to continued service.The following table summarizes the RSU activity during the nine months ended September 30, 2025 (in thousands, except per share data):RSUsWeighted-Average Grant Date Fair Value per ShareOutstanding as of December 31, 2024—$— Granted620,39028.00 Vested—— Forfeited—— Outstanding as of September 30, 2025620,390$28.00 As of September 30, 2025, unrecognized stock-based compensation expense related to the RSUs was $17.0 million, which is expected to be recognized over a weighted-average period of 2.9 years. For the three and nine months ended September 30, 2025, the Company recognized $0.1 million and $0.2 million of stock-based compensation expense related to RSUs in Cost of revenue and Selling, general and administrative, respectively, on the Condensed Consolidated Statements of Operations. 

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Legence Corp.Notes to Condensed Consolidated Financial Statements - (Continued)(Unaudited)

The following table summarizes stock option activity during the nine months ended September 30, 2025:Stock