v3.26.1
Share-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Summary of Aggregate Share-based Compensation Expense

A summary of the Company’s aggregate share-based compensation expense (income) is shown below. Share-based compensation expense related to NDB Incentive Units (as defined below) issued by WaterBridge NDB LLC (“NDB LLC”) and allocated to the Company is recognized as a deemed non-cash contribution to shareholders’ or member’s equity on the consolidated balance sheets. Substantially all share-based compensation expense is included in general and administrative expense on the condensed consolidated statements of operations.

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Incentive units

 

$

835

 

 

$

1,058

 

 

$

1,660

 

 

$

1,382

 

Restricted share units

 

 

1,748

 

 

 

-

 

 

 

3,507

 

 

 

-

 

Total share-based compensation expense

 

$

2,583

 

 

$

1,058

 

 

$

5,167

 

 

$

1,382

 

 

Summary of Incentive Units Activity A summary of the NDB Incentive Unit activity during the six months ended June 30, 2026, is shown in the following table:

 

 

 

Incentive Units

 

 

Weighted Average Grant Date Fair Value

 

 

Weighted Average Remaining Contractual Term (years)

 

Outstanding at December 31, 2025

 

 

18,380

 

 

$

872

 

 

 

 

Granted

 

 

-

 

 

 

 

 

 

 

Forfeited

 

 

(145

)

 

$

763

 

 

 

 

Outstanding at June 30, 2026

 

 

18,235

 

 

$

873

 

 

 

0.8

 

Summary of RSU Activity

A summary of RSU activity during the six months ended June 30, 2026, is shown in the following table:

 

 

RSUs

 

 

Weighted Average Grant Date Fair Value

 

Nonvested at December 31, 2025

 

 

884,000

 

 

$

22.63

 

Granted

 

 

7,327

 

 

$

22.21

 

Forfeited

 

 

(10,709

)

 

$

22.60

 

Vested

 

 

(1,666

)

 

$

22.60

 

Nonvested at June 30, 2026

 

 

878,952

 

 

$

22.63