Company: LGN
Filing Date: 2025-08-25
Form Type: S-1/A
Source: 0001193125-25-186788
Chunk: 205

Company: Legence Corp.
Filing Date: 2025-08-25
Form: S-1/A
Chunk 205
---
 to awards under the 2025 Plan. The total number of shares reserved for issuance under the 2025 Plan will be increased annually on January 1 of each fiscal year beginning in 2026 and
ending and including January 1, 2035, by the lesser of (i) 2% of the aggregate number of shares of Common Stock, outstanding on December 31 of the immediately preceding calendar year and (ii) the number of shares of Class A Common
Stock as is determined by our board of directors. No more than the initial Share Reserve may be issued pursuant to incentive stock options. Shares of Class A Common Stock subject to an award that expires or is canceled, forfeited, exchanged, settled
in cash or otherwise terminated without delivery of shares and shares withheld to pay the exercise price of, or to satisfy the withholding obligations with respect to, an award will again be available for delivery pursuant to other awards under the
2025 Plan.

Administration

The
2025 Plan will be administered by a committee of our board of directors (the “Committee”), which may delegate its powers and duties under the 2025 Plan in accordance with the terms of the 2025 Plan. The Committee has broad discretion to
administer the 2025 Plan, including the power to determine the eligible individuals to whom awards will be granted, the number and type of awards to be granted and the terms and conditions of awards. The Committee may also accelerate the vesting or
exercise of any award and make all other determinations and to take all other actions necessary or advisable for the administration of the 2025 Plan. To the extent the 2025 Plan administrator is not the Committee, our board of directors will retain
the authority to take all actions permitted by the administrator under the 2025 Plan. Additionally, our board of directors retains the right to exercise the authority of the Committee to the extent consistent with applicable law.

Eligibility

Our employees, consultants
and non-employee directors, and employees and consultants of our affiliates, will be eligible to receive awards under the 2025 Plan.

Non-Employee Director Compensation Limits

Under the 2025 Plan, in a single calendar year, a non-employee director may not be granted awards for
such individual’s service on our board of directors having a value, taken together with any cash fees paid to such non-employee director, in excess of $750,000 (except that the Committee may make
exceptions to such limit and for any year in which a