Company: WBI
Filing Date: 2025-09-18
Form Type: 424B4
Source: 0001193125-25-206805
Chunk: 488

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-18
Form: 424B4
Chunk 488
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 noted in the following table. The same inputs were used for the units granted in both the 2024 and 2023 periods. Expected volatility is based on historical volatility of the Company’s market and other factors. The expected term of awards granted represents the period of time that awards are expected to be outstanding. The risk-free rate for periods within the contractual life of the award is based on the U.S. Treasury yield curve in effect at the time of grant. In addition, management considers the distribution priority schedule or “waterfall calculation” in its estimation process.

| Expected volatility      |     | 22.50 | % |
| Expected dividends       |     |  0.00 | % |
| Expected term (in years) |     |     3 |   |
| Risk-free rate           |     |  4.95 | % |
| Marketability discount   |     |  9.00 | % |

Note 7. Employee Benefit Plan The Company allows employees to participate in an affiliate 401(k) plan which covers substantially all employees. The Company’s portion of the employer match gets allocated to the Company through the shared services allocation. The Company may elect, on a year-to-year basis, to match employee contributions subject to certain limitations. The Company matches 100% of eligible compensation that does not exceed 4%, plus a discretionary employer match of 100% of eligible compensation that does not exceed 3% of eligible compensation. For the years ended December 31, 2024, and 2023, $168 thousand and $55 thousand, respectively, was contributed by the Company. Note 8. Related Party Transactions Transactions between related parties are considered to be related party transactions even though they may not be given accounting recognition. FASB ASC Topic 850, Related Party Transactions , requires that transactions with related parties that would make a difference in decision making shall be disclosed so that users of the consolidated financial statements can evaluate their significance. Transactions between the Company and related parties are summarized as follows (in thousands):

| Accounts Receivable - Related Party |     | Financial Statements Location |     | 2024 |       |     | 2023 |     |
|:------------------------------------|:----|:------------------------------|:----|:-----|------:|:----|:-----|----:|
| Customer Agreement                  |     | Related party receivable      |     | $    | 1,523 |     | $    | 552 |
| Shared Services Agreement           |     |