Company: LGN
Filing Date: 2025-08-15
Form Type: S-1
Source: 0001193125-25-181698
Chunk: 310

Company: Legence Corp.
Filing Date: 2025-08-15
Form: S-1
Chunk 310
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           80% |     |               70% |     |      70% |
| Expected life (years)   |     |           0.5 |     |               3.5 |     |      5.0 |

| (1) | The Company completes an IPO, and Series A Profits Interests are settled. |

| (2) | The Company completes an IPO, and Series A Profits Interests remain outstanding. |

| (3) | The Company does not undergo a Change of Control in the foreseeable future. |

The compensation expense and corresponding income tax benefit for liability-classified Time Interests was as follows (in thousands):

|                                     |     | Year Ended December 31, |  2024 |     |   |   2023 |     |   |  2022 |
|:------------------------------------|:----|:------------------------|------:|:----|:--|-------:|:----|:--|------:|
| Selling, general and administrative |     | $                       | 3,786 |     | $ |  8,095 |     | $ | 4,283 |
| Cost of revenue                     |     |                         | 1,026 |     |   |  1,923 |     |   |   902 |
| Compensation expense                |     | $                       | 4,812 |     | $ | 10,018 |     | $ | 5,185 |
| Income tax benefit                  |     | $                       |     — |     | $ |    403 |     | $ |    44 |

F-51

Legence Holdings LLC and Subsidiaries Notes to Consolidated Financial Statements The stock-based compensation liability for Time Interests as of December 31, 2024 and 2023 is $19.9 million and $15.2 million, respectively, and is included in Other long-term liabilities on the Consolidated Balance Sheets. As of December 31, 2024, the unrecognized compensation expense related to Time Interests is approximately $10.3 million to be recognized over a remaining weighted-average term of 1.9 years. The activity of the equity-classified Performance Interests and Exit Interests issued to employees of the Company was as follows:

|                                     |     | Performance 
 and Exit    
 Interests   |        |   |     | Weighted-       
 average Grant   
 Date Fair Value 
 Per Interest    |     |
|