Company: WBI
Filing Date: 2025-08-04
Form Type: DRS/A
Source: 0000950123-25-006924
Chunk: 150

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-08-04
Form: DRS/A
Chunk 150
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 in the fair value of the WaterBridge NDB LLC incentive units accounted for as liability awards during the three months ended June 30, 2024, partially offset by amortization of new equity awards granted in 2025. Share-based compensation consists of the WaterBridge NDB LLC incentive units. Prior to July 1, 2024 such incentive units were classified as liability awards at WaterBridge NDB LLC and shared-based compensation expense reflects the impacts of change in the liability remeasurement allocated to us. Effective July 1, 2024, the governing agreements were modified resulting in the incentive units now being accounted for as equity awards. This was considered as a modification under Accounting Standards Topic 718, Compensation – Stock Compensation (“ASC 718”). See Note 7—Share-Based Compensation within the notes to the NDB Operating unaudited condensed consolidated financial statements included elsewhere in this prospectus. Any distributions associated with such incentive units are borne solely by WaterBridge NDB LLC and not by us. Distributions attributable to the incentive units are based on returns received by the investors of such entities once certain return thresholds have been met and are neither an obligation of us nor taken into consideration for distributions to investors. Other operating expense, net . Other operating expense, net increased $4.8 million for the three months ended June 30, 2025 as compared with the three months ended June 30, 2024 primarily due to lower income associated with the release of a historical sales tax liability related to a legacy acquisition during the three months ended June 30, 2024 of $4.1 million, plugging and abandonment expenses of $0.5 million and transaction expenses of $0.2 million associated with the WaterBridge Combination.

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|                                           |     | Three Months Ended June 30, |   2025 |   |     |   |   2024 |     | Amount of 
 Increase  | (Decrease) |   |     | Percentage | Change |    |
|:------------------------------------------|:----|:----------------------------|-------:|:--|:----|:--|-------:|:----|:----------|-----------:|:--|:----|:-----------|-------:|:---|
| Interest expense on credit facilities     |     | $                           | 13,034 |   |     | $ | 11,521 |     | $         |      1,513 |   |     |            |