Company: WBI
Filing Date: 2025-09-08
Form Type: S-1/A
Source: 0000950170-25-113383
Chunk: 390

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-08
Form: S-1/A
Chunk 390
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Bridge NDB Operating LLC and Subsidiaries

Notes to the Consolidated Financial Statements</div>

A summary of the Incentive Units activity during the year ended December 31, 2024 is shown in the following table:

|                                     |     | Incentive Units |       |   |     | Weighted Average Grant Date Fair Value |       |     | Weighted Average Remaining Contractual Term (years) |      |
|:------------------------------------|:----|:----------------|------:|:--|:----|:---------------------------------------|------:|:----|:----------------------------------------------------|-----:|
| Outstanding at December 31, 2023(1) |     |                 | 9,992 |   |     | $                                      | 1,548 |     |                                                     |      |
| Granted                             |     |                 |     - |   |     |                                        |     - |     |                                                     |      |
| Forfeited                           |     |                 |  (142 | ) |     |                                        | 1,135 |     |                                                     |      |
| Outstanding at December 31, 2024(2) |     |                 | 9,850 |   |     | $                                      |   985 |     |                                                     | 0.99 |

(1) Prior to the Division, incentive units outstanding at December 31, 2023 reflected the weighted average fair value per unit as of the measurement date as required for liability accounting. (2) The units outstanding as of December 31, 2024 reflect the effects of the Division which includes the weighted average per unit amount at the modification date of $987 per unit. As of December 31, 2024, remaining unrecognized compensation expense for the Incentive Units was $2.0 million and the weighted average remaining vesting period was approximately 1.5 years. Included in share-based compensation expense during the year ended December 31, 2024 is the reversal of an immaterial amount of expense related to employee departures. Share-based compensation expense during the year ended December 31, 2024 includes $0.1 million of additional expense related to accelerated vesting due to an employee departure. There were no accelerations during the year ended December 31, 2023. Defined Contribution Plan WaterBridge Management Company LLC, an affiliate of the Company, sponsors a defined contribution plan available to all eligible employees. Qualifying participants receive a matching contribution based on the amount participants contribute to the