5. EQUITY-BASED COMPENSATION

The following table summarizes equity-based compensation expense included in selling, general and administrative expenses within the condensed consolidated statements of operations under the Resolute Holdings Management, Inc. 2025 Omnibus Incentive Plan (the “Resolute Equity Plan”) and the GPGI, Inc. 2021 Incentive Equity Plan, as amended (the “GPGI Equity Plan”). The Company is required to expense equity-based compensation granted under the GPGI Equity Plan due to the consolidation of GPGI Holdings. Prior to the Husky Transaction Date, GPGI and Resolute Holdings were under common control, and the Company was required to expense equity-based compensation related to the Contractors. As a result of the Husky Transaction, GPGI and Resolute Holdings were no longer under common control and GPGI is required to record the equity-based compensation expense for the Contractors (“Common Control Adjustment”). Equity granted under the GPGI Equity Plan relates to GPGI Class A Common Stock

and has no impact on Resolute Holdings’ common stock outstanding. In accordance with the GPGI Equity Plan, outstanding awards at the time of the Spin-Off were adjusted to maintain the aggregate intrinsic value of the awards (“Spin-Off Adjustment”) before and after the Spin-Off.

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The following table sets forth the activity related to the Resolute Equity Plan for the six months ended June 30, 2026:

Resolute Equity Plan Stock Option Activity

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Unrecognized compensation cost for stock options under the Resolute Equity Plan totaled $2.9 and is expected to be recognized over a weighted average period of approximately 2.2 years.

The following tables set forth the activity related to the GPGI Equity Plan for the six months ended June 30, 2026:

GPGI Equity Plan Restricted Stock Unit Activity

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Unrecognized compensation cost for restricted stock units under the GPGI Equity Plan as of June 30, 2026 totaled $30.0 and is expected to be recognized over a weighted average period of approximately 5.9 years.

GPGI Equity Plan Stock Option Activity

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Unrecognized compensation cost for stock options under the GPGI Equity Plan as of June 30, 2026 totaled $8.3 and is expected to be recognized over a weighted average period of approximately 3.7 years.

GPGI Equity Plan Performance and Market based Stock Unit Activity

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Unrecognized compensation cost for performance and market-based stock units under the GPGI Equity Plan as of June 30, 2026 totaled $1.1 and is expected to be recognized over a weighted average period of approximately 0.5 years.

Husky Special Long Term Incentive Program

In connection with the Husky Transaction, the Company established a special long-term performance incentive program under the GPGI Equity Plan (such program, the “Husky LTIP”). The Husky LTIP is designed to incentivize certain key Husky employees to achieve multi-year goals for the business and to promote long-term retention of business leaders in order to achieve such goals.  Participants under the program are granted special performance awards with target dollar values based on their target annual bonus, subject to the achievement of the following annual performance goals for the Husky segment over a four-year period:

The Husky Adjusted EBITDA targets are calculated in accordance with U.S. GAAP as derived from the audited financial statements of the Company, without taking into account management fees paid by Husky to Resolute Holdings but reduced by the aggregate cost of the Husky LTIP awards. During the three months ended June 30, 2026, the Company granted a net total target dollar value of Husky LTIP awards of $0.0 and recognized $(0.3) of expense. During the six months ended June 30, 2026, the Company granted a net total target dollar value of Husky LTIP awards of $3.0 and recognized $0.0 of expense.

An additional 20% of the target award value for an applicable year will be earned for every $10.0 by which Husky’s Adjusted EBITDA exceeds the applicable year’s target Adjusted EBITDA. If performance goals are not achieved for an applicable year, no amounts will be earned for such year. Following the end of 2029, the aggregate earned portions of the awards will be converted into restricted stock units based on the closing price of GPGI’s Class A Common Stock on the first trading day following GPGI’s earnings release for fiscal year 2029. The restricted stock units will vest on March 31, 2030, subject to the participant’s continued employment through such date.  The awards will otherwise have the terms and conditions set forth in the applicable award agreement.