Company: LGN
Filing Date: 2025-02-14
Form Type: DRS
Source: 0000950123-25-002471
Chunk: 168

Company: Legence Corp.
Filing Date: 2025-02-14
Form: DRS
Chunk 168
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 of such other third party is converted into or
exchanged for cash, securities or other property (other than pursuant to a transaction in which Legence Parent’s membership interests outstanding immediately prior to the transaction constitute, or are converted into or exchanged for, a
majority of the equity securities of the surviving person immediately after giving effect to such transaction), in each case of clauses (a), (b) or (c), including by way of a public offering. We do not expect this offering to constitute a Change of
Control Exit.

In January 2021, Mr. Sprau was granted 11,833.13 Series A Profits Interests. In December 2021, Mr. Butz was
granted 3,400 Series A Profits Interests. In August 2021, March 2023 and February 2024, Mr. Barnes was granted 709.99, 290.01 and 500 Series A Profits Interests, respectively. In November 2021, March 2023 and February 2024, Mr. Seki was
granted 800, 200 and 500 Series A Profits Interests, respectively. Fractional interests have been rounded to the nearest hundredth of a unit. The grant date fair values, calculated in accordance with Accounting Standards Update Topic 718
(“Topic 718”), for the Series A Profits Interests awarded in 2024 are reported in the Summary Compensation Table below.

As a
condition to receiving their Series A Profits Interests, each named executive officer was required to enter into an award agreement with us and to become a party to the Legence Parent limited liability company agreement. These agreements, the Series
A Plan and the Legence Parent limited liability company agreement generally govern the named executive officer’s rights with respect to the Series A Profits Interests. In addition, each named executive officer was required to timely file a Code
Section 83(b) election in connection with his grant of Series A Profits Interests.

Restrictive Covenants.As a condition of
receiving the Series A Profits Interests, our named executive officers agreed to certain restrictive covenants, including confidentiality of information, inventions assignment, noncompetition, non-solicitation
and non-disparagement covenants. The confidentiality, inventions assignment and non-disparagement covenants have an indefinite term. The
non-solicitation covenants have a term of two years following the named executive officer’s termination