Company: WBI
Filing Date: 2025-09-15
Form Type: S-1/A
Source: 0001193125-25-202719
Chunk: 470

Company: WaterBridge Infrastructure LLC
Filing Date: 2025-09-15
Form: S-1/A
Chunk 470
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 of this cash redemption feature and in accordance with the guidance in ASC 480-10-S99 and ASC 810. The Redeemable Noncontrolling Interest was redeemable at the option of the holder, as such, the redeemable noncontrolling interest was remeasured to its redemption value using the effective yield method at each reporting date. On September 14, 2023 (the “Redemption Date”), Holdings executed a unit redemption agreement (the “Redemption Agreement”) wherein Holdings agreed to redeem the Holdings Preferred Units for aggregate consideration of $165.0 million (the “Redemption Price”). Of such Redemption Price, $150.0 million was delivered in cash on the Redemption Date with remaining $15.0 million to be delivered over the following three quarters in equal payment amounts of $5.0 million each (the “Deferred Redemption Payments”). The carrying value of the redeemable noncontrolling interest on the Redemption Date was $172.1 million. The fair value of the cash and the Deferred Redemption Payments exchanged was $164.5 million. The difference of $7.6 million from the extinguishment of the Holder Preferred Units resulted in a deemed contribution recognized in members’ equity. As a result, following the Redemption Date there were no Series A-1 Preferred Units of Holdings issued or outstanding, thus there are no amounts of Redeemable Noncontrolling Interest as of June 30, 2025, and December 31, 2024. 8. Share-Based Compensation The Company accounts for share-based compensation expense for Incentive Units granted in exchange for employee services. Our management and employees currently participate in two equity-based incentive plans, managed by WBR and WB II, both indirect parents of the Company. The Incentive Units consist of time-based awards of profits interests in WBR and WB II. Please see “Share-Based Compensation” above for further discussion of the accounting treatment of the WBR and WB II Incentive Units. WBR Incentive Units The WBR LLC Agreement authorizes the issuance of up to 10,000 Incentive Units (“WBR Incentive Units”), which represent profits interests in WBR. The weighted average fair value of the WBR Incentive Units is estimated using a Monte Carlo simulation with the following inputs:

|                          |     |          | June 30, 
     2025 |   |     |          | December 31, 
         2024 |   |
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