Company: RMIX
Filing Date: 2025-11-12
Form Type: S-4
Source: 0001104659-25-110488
Chunk: 578

Company: Suncrete, Inc.
Filing Date: 2025-11-12
Form: S-4
Chunk 578
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 vesting and other rights and privileges as such members had prior to the IPO as stated in the Concrete LLCA.

F-62

TABLE OF CONTENTS

NOTES TO CONSOLIDATED AND COMBINED FINANCIAL STATEMENTS The Company presented and accounted for the Preferred Units as mezzanine equity at their issuance date fair value of $67.3 million. The Preferred Units are classified in mezzanine equity because the Preferred Unitholders control the decision to redeem the Preferred Units rather than the Company. The Preferred Unitholders control the Parent and the Board of Directors of the Company and are responsible for approving distributions that will cancel the Senior Preferred Units and then the Preferred Units. As the Preferred Units are deemed to be currently redeemable, the Preferred are subsequently remeasured to their maximum redemption amount at each reporting date. The Preferred Units’ redemption value was determined to be $99.8 million as of December 31, 2024. Note 10. Common Units As of December 31, 2024, the Company has 95.7 million Common Units outstanding. The Common Units were issued for cash and in conjunction with Concrete Acquisition as discussed above with the Preferred Units. The Common Units rank junior to both the Senior Preferred Units and the Preferred Units. No distributions (including liquidating distributions) will be made to the common members until the Senior Preferred Units and Preferred Units have been fully redeemed. Thereafter, distributions, when declared by the board, are split pro rata to the common members in accordance with their common percentage interests. Note 11. Share-Based Compensation The Company has established an equity participation program (the “Plan”) to attract, retain, and incentivize employees. Under the Plan, the Company on December 9, 2024, authorized the issuance of 16,888,235 nonvoting common units (“Incentive Units”). The Incentive Units vest over an explicit service period, with 33% vesting on the third anniversary of the grant date, 33% vesting on the fourth anniversary, and the remaining 34% vesting on the fifth anniversary. The Incentive Units are classified as equity awards under ASC 718, Stock Compensation , and are measured at fair value on the grant date, with compensation expense recognized over the requisite service period. The following table summarizes Incentive Unit activity from May 22, 2024, through December 31, 2024:

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 Non-vested at May 22, 2024      |