LEGENCE PARENT LLC 4

What Happened

• Legence Parent ML LLC (a reported 10% owner) converted Class B units into Class A common stock and sold a total of 15,394,112 Class A shares on April 9, 2026. The sales were executed at the public offering price of $54.00 per share for gross proceeds of approximately $831,282,048 (9,528,699 shares = $514,549,746; 5,865,413 shares = $316,732,302).
• Footnotes indicate the conversions involved exchanging 9,528,699 Class B Units (and forfeiting corresponding Class B common shares) for Class A shares, and the sales were made in connection with a secondary offering — shares were sold to underwriters at the public offering price less underwriting discounts of $1.89 per share.

Key Details

• Transaction date: 2026-04-09; sale price reported: $54.00 per share.
• Shares sold: 9,528,699 and 5,865,413 (total 15,394,112); gross proceeds ≈ $831.3M.
• Conversion: Reported conversion/exchange of 9,528,699 Class B Units into Class A shares prior to sale (see footnotes F1, F3).
• Ownership after transaction: The filing continues to identify Parent ML as a 10% owner; the excerpt does not provide a single-line post-transaction share total for all securities held. Footnote F4 references Class B Units and related Class B common stock held immediately after the exchange.
• Notable footnotes: sales were part of a secondary offering to underwriters (F2); Parent ML is part of an ownership chain controlled ultimately by Blackstone-related entities (F5–F7). Multiple reporting persons filed separately (F8).
• Filing timeliness: Reported and filed with a period ending 2026-04-09 (no late filing indicated).

Context

• This was an institutional sale in connection with a secondary offering, not a routine open-market trade by an individual executive. The filing shows conversion of private/derivative units (Class B Units) into publicly tradeable Class A shares and immediate disposition into the offering — effectively a structured liquidity event. As always, sales in connection with offerings reflect transaction mechanics and underwriting arrangements rather than a straightforward signal of insider sentiment.