Comprehensive analysis of Tax Receivable Agreements from SEC filings
| Company Name | TRA Liability (M$) | Covered Assets | TRA Parties | TRA Share % | Default Interest Rate | Pro Rata Payment | References | Notes | CIK | Filing Date | Form Type | Filing URL | Payment Rate |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Medline Inc. | $4,021.00 | Existing tax basis, tax basis adjustments, tax attributes, TRA payment benefits | Certain pre-IPO owners | 90% | balance of the TRA liability was $4,021 million; allocable share of existing tax basis; certain pre-IPO owners; 90% of certain tax benefits | ['TRA liability increased $479 million from resale offering.'] | 2,046,386 | 2026-05-06 | 10-Q | View Document | 90% | ||
| Medline Inc. | $3,542.00 | Existing tax basis, basis adjustments, Blocker Company tax attributes, and tax benefits from TRA payments | Pre-IPO owners | 90% | 90% of certain tax benefits; liability of $3,542 million; allocable share of existing tax basis; tax basis adjustments; utilization of certain tax attributes; pre-IPO owners | ['TRA share is 90% of tax benefits.'] | 2,046,386 | 2026-02-25 | 10-K | View Document | 90% | ||
| ZoomInfo Technologies Inc. | $2,730.40 | TRA holders | liability of $2,730.4 million; No payments were made to TRA holders; revaluation for the blended state tax rate | ['Remeasurement gain/loss from blended state tax rate revaluation.'] | 1,794,515 | 2026-05-11 | 10-Q | View Document | |||||
| CARVANA CO. | $2,228.00 | basis adjustment relating to the assets of Carvana Group; tax benefits from TRA payments (imputed interest) | LLC Unitholders; related parties | 85% | TRA liability of $2.2 billion; basis adjustment relating to the assets; pay to the LLC Unitholders 85%; deferred and will accrue interest until paid | ['Significant portion of liability due to related parties.'] | 1,690,820 | 2026-04-29 | 10-Q | View Document | 85% | ||
| Blackstone Inc. | $2,076.20 | Increases in tax basis of tangible and intangible assets | Senior managing directors, pre-IPO owners, and holders of Blackstone Holdings Partnership Units | 85% | 85% of the amount of cash savings; increases in the tax basis; tangible and intangible assets; senior managing directors and other pre-IPO owners; aggregate $2.1 billion over the next 15 years | ['NPV of payments uses a 15% discount rate.'] | 1,393,818 | 2026-02-27 | 10-K | View Document | 85% | ||
| Blackstone Inc. | $2,047.93 | tangible and intangible assets of Blackstone Holdings | predecessor owners, senior managing directors, and other unit holders | 85% | 85% of the amount of cash savings; tangible and intangible assets; predecessor owners; senior managing directors; Due to Certain Non-Controlling Interest Holders | ['NPV calculated using 15% discount rate'] | 1,393,818 | 2026-05-08 | 10-Q | View Document | 85% | ||
| BLUE OWL CAPITAL INC. | $1,612.60 | increases in tax basis of the assets | Registrant, Blue Owl Capital GP LLC, Blue Owl Holdings, Blue Owl Capital Carry LP, Partners | 85% | TRA liability... $1,612,609; increases in tax basis of the assets; Registrant, Blue Owl Capital GP LLC, Blue Owl Holdings; pay 85% of certain tax benefits | [] | 1,823,945 | 2026-05-01 | 10-Q | View Document | 85% | ||
| Dutch Bros Inc. | $820.10 | certain tax attributes and benefits | certain Dutch Bros OpCo owners, Co-Founder, Sponsor | 85% | total TRAs-related liabilities were $820.1 million; certain tax attributes and benefits; certain Dutch Bros OpCo owners; 85% of the income tax benefits; Co-Founder and Sponsor | [] | 1,866,581 | 2026-05-06 | 10-Q | View Document | 85% | ||
| TPG Inc. | $782.20 | increase in the tax basis of our investment in the TPG Operating Group | current and former employees and partners of TPG Partner Holdings | 85% | liability pursuant to the Tax Receivable Agreement $782.2 million; increase in the tax basis of our investment; current and former employees and partners; 85% of the applicable cash savings | ['Liability split between related parties and non-affiliates.'] | 1,880,661 | 2026-05-01 | 10-Q | View Document | 85% | ||
| Apollo Global Management, Inc. | $781.00 | increases in tax basis of assets; Section 754 | Former Managing Partners, Contributing Partners, Bridge TRA holders | 85% | Due to TRA holders $781; increases in tax basis of assets; exchanges of AOG Units for Class A shares; Former Managing Partners and Contributing Partners; 85% of the amount of cash savings; interest is accrued on the balance | ['Includes Apollo and Bridge TRAs.', 'No exchangeable units remain as of 2025.'] | 1,858,681 | 2026-02-25 | 10-K | View Document | 85% | ||
| Apollo Global Management, Inc. | $778.00 | Tax basis of assets; Section 754 election; Bridge acquisition tax benefits | Former Managing Partners; Contributing Partners; Bridge TRA holders | 85% | Due to TRA holders $778; increases in tax basis of assets; Former Managing Partners and Contributing Partners; 85% of the amount of cash tax savings; interest is accrued on the balance | ['Includes Apollo TRA and Bridge TRA.', 'No more units remain for exchange.'] | 1,858,681 | 2026-05-07 | 10-Q | View Document | 85% | ||
| Core & Main, Inc. | $720.00 | Existing tax basis, basis increases from exchanges, depreciation and amortization, tax benefits from TRA payments | Former Limited Partners, Continuing Limited Partners, CD&R Waterworks Holdings, Management Feeder | 85% | recorded a $720 million payable; 85% of the realized... benefits; allocable share of existing tax basis; increases in tax basis... from exchanges; Former Limited Partners; Continuing Limited Partners; accrue interest until paid | ['Payments occur two fiscal years after benefit utilization.'] | 1,856,525 | 2026-03-24 | 10-K | View Document | 85% | ||
| Cannae Holdings, Inc. | $664.00 | tax basis adjustments, tax attributes, other tax benefits | certain owners of Alight Holdings | 85% | Ending balance as of December 31, 2025 664; tax basis adjustments from sales and exchanges; certain owners of Alight Holdings; distribute 85% of any tax benefits | ['Company received an Objection Notice from TRA Representative.'] | 1,704,720 | 2026-03-02 | 10-K | View Document | 85% | ||
| Alight, Inc. / Delaware | $664.00 | Existing tax basis, tax basis adjustments, net operating losses, and tax benefits from TRA payments | Pre-Business Combination owners and their assignees | 85% | Ending balance as of December 31, 2025 664; existing tax basis acquired in the Business Combination; pre-Business Combination owners (including their assignees); 85% of the benefits; net operating losses subject to the Tax Receivable Agreement | ['Objection Notice received from TRA Party Representative in 2026.'] | 1,809,104 | 2026-02-24 | 10-K | View Document | 85% | ||
| Interactive Brokers Group, Inc. | $618.00 | tax basis increases | Holdings (for benefit of former IBG LLC members) | 85% | payables to Holdings... through March 31, 2026... $618 million; result of tax basis increases; 85% of the tax savings; agreement... with Holdings | ['Cumulative payments of $308 million through March 2026.'] | 1,381,197 | 2026-05-07 | 10-Q | View Document | 85% | ||
| Rocket Companies, Inc. | $590.00 | Tax basis increases, imputed interest, 704(c) allocations, NOLs | RHI, RHI II, Mr. Gilbert | 90% | lesser of 6.50% or benchmark rate + 100bp | $590 million Tax Receivable Agreement liability; increases in tax basis; RHI and Mr. Gilbert; 90% of the amount of cash savings; lesser of 6.50% or benchmark rate + 100bp | ['TRA share is 90%. Amended to exclude future exchanges.'] | 1,805,284 | 2026-03-02 | 10-K | View Document | 90% | |
| Ares Management Corp | $581.70 | Increases in tax basis of tangible and intangible assets; depreciation and amortization; tax benefits from TRA payments and interest. | TRA recipients; Holders of AOG Units | 85% | TRA liability balance was $581.7 million; increases in tax basis of tangible and intangible assets; payment to the TRA recipients of 85%; tax benefits attributable to payments under the TRA | [] | 1,176,948 | 2026-05-08 | 10-Q | View Document | 85% | ||
| Ares Management Corp | $579.90 | Increases in tax basis of tangible and intangible assets; tax benefits from TRA payments | Direct and indirect holders of AOG Units (TRA Recipients); Ares Owners Holdings L.P. | 85% | TRA liability balance was $579.9 million; 85% of the amount of cash tax savings; increases in tax basis of assets; direct and indirect holders of AOG Units | ['Ares Owners Holdings L.P. generally ineligible for payments after 2023.'] | 1,176,948 | 2026-02-25 | 10-K | View Document | 85% | ||
| Alight, Inc. / Delaware | $509.00 | tax basis adjustments from sales and exchanges; existing tax basis; tax attributes | certain owners of Alight Holdings; TRA Party Representative | 85% | Ending balance as of March 31, 2026 509; tax basis adjustments from sales and exchanges; certain owners of Alight Holdings; 85% of any savings that we realize; plus interest as further detailed in the TRA | ['Objection Notice received; dispute could increase payments by $40M.'] | 1,809,104 | 2026-05-05 | 10-Q | View Document | 85% | ||
| SOLV Energy, Inc. | $497.00 | Allocable share of tax basis; Blocker Company NOLs and tax basis; Basis Adjustments; interest deductions from TRA payments | SOLV Energy, Inc., SOLV Energy Holdings LLC, Continuing Equity Owners, Blocker Shareholders, and other TRA Participants | 85% | pay approximately $497.0 million; 85% of the tax benefits; allocable share of tax basis; net operating losses; Basis Adjustments; interest deductions; Continuing Equity Owners, the Blocker Shareholders | ['Liability is an estimate assuming immediate exchange.'] | 2,065,636 | 2026-03-25 | 10-K | View Document | 85% | ||
| RYAN SPECIALTY HOLDINGS, INC. | $460.80 | Exchange Tax Attributes (basis increases), Pre-IPO M&A Tax Attributes, remedial partnership tax allocations, TRA Payment Tax Attributes | current and certain former LLC Unitholders | 85% | liabilities of $460.8 million; increases in the tax basis; Pre-IPO M&A Tax Attributes; remedial partnership tax allocations; TRA Payment Tax Attributes; current and certain former LLC Unitholders; 85% of the net cash savings | ['Liability is based on undiscounted estimated future payments.'] | 1,849,253 | 2026-05-01 | 10-Q | View Document | 85% | ||
| Planet Fitness, Inc. | $415.80 | Tax attributes of Holdings Units; tax benefits from TRA payments (imputed interest); tax attributes from 2012 TSG purchase. | TRA Holders; existing and previous equity owners of Pla-Fit Holdings, LLC; affiliates of TSG Consumer Partners, LLC. | 85% | liability of $415.8 million; 85% of the applicable tax savings; tax attributes of their Holdings Units; affiliates of TSG Consumer Partners, LLC | ['Company entered into two tax receivable agreements.'] | 1,637,207 | 2026-05-07 | 10-Q | View Document | 85% | ||
| Planet Fitness, Inc. | $415.80 | Tax basis adjustments from Holdings Units exchanges, 2012 Acquisition attributes, imputed interest | TRA Holders, Pla-Fit Holdings owners, TSG Consumer Partners | 85% | tax benefit obligation was $415.8 million; 85% of the applicable cash savings; tax attributes of their Holdings Units; affiliates of TSG Consumer Partners; imputed interest | ['Company is party to two tax receivable agreements.'] | 1,637,207 | 2026-02-25 | 10-K | View Document | 85% | ||
| Nextpower Inc. | $393.20 | Existing tax basis; basis increases; blocker corporation attributes; TRA payment benefits | Flex Ltd. affiliate, TPG Inc., TPG Affiliates, TPG Rise Flash, L.P. | 85% | liability of $393.2 million; existing tax basis in tangible and intangible assets; 85% of the tax benefits; Flex’s affiliate, TPG and the TPG Affiliates | ['Yuma and Yuma Sub assigned rights to Flex affiliate.'] | 1,852,131 | 2026-05-19 | 10-K | View Document | 85% | ||
| AEVEX Corp. | $373.20 | Increases in tax basis from exchanges; existing tax basis; tax attributes of Blocker Entity; TRA payment tax benefits | AEVEX Corp., Holdings LLC, TRA Rights Holders (including Madison Dearborn Partners, LLC) | 85% | required to pay approximately $373.2 million; 85% of certain tax savings; increases in the tax basis of assets; existing tax basis; tax attributes of the Blocker Entity; unpaid amounts generally will be deferred | ['Liability is an estimate based on IPO assumptions.'] | 2,096,300 | 2026-05-20 | 10-Q | View Document | 85% | ||
| Shift4 Payments, Inc. | $369.00 | Tax basis increases from redemptions, Searchlight tax attributes, imputed interest | Searchlight, Continuing Equity Owners, Rook Holdings Inc., Shift4 Payments, LLC | 85% | TRA liability was $369 million; increases in the tax basis of assets; Searchlight, our former sponsor; 85% of the tax benefits | ['Rook assigned TRA rights to Company in 2026.', 'Up-C structure collapsed in February 2026.'] | 1,794,669 | 2026-02-27 | 10-K | View Document | 85% | ||
| KKR & Co. Inc. | $359.30 | Tax basis of tangible and intangible assets (primarily goodwill) | KKR Holdings, limited partners, current and former principals | 85% | undiscounted payable of $359.3 million; tangible and intangible assets; KKR Holdings or to its limited partners; 85% of the amount of cash savings | ['TRA terminated May 30, 2022, except for prior exchanges.'] | 1,404,912 | 2026-02-27 | 10-K | View Document | 85% | ||
| Portillo's Inc. | $352.40 | Existing tax basis, net operating losses, basis adjustments, imputed interest | Pre-IPO LLC Members | 85% | obligation for future payments totaled $352.4 million; 85% of certain tax benefits; existing tax basis; net operating losses; pre-IPO LLC Members | ['Payments expected to decline through year 47.'] | 1,871,509 | 2026-02-24 | 10-K | View Document | 85% | ||
| Portillo's Inc. | $344.20 | Existing tax basis; NOLs; basis adjustments from exchanges | Pre-IPO LLC Members of Portillo's OpCo | 85% | TRA liability totaled $344.2 million; 85% of the amount of tax benefits; pre-IPO LLC Members; existing tax basis in depreciable or amortizable assets; net operating losses | ['Liability remeasured due to equity-based compensation activity.'] | 1,871,509 | 2026-05-05 | 10-Q | View Document | 85% | ||
| Tradeweb Markets Inc. | $335.80 | Increases in the tax basis of TWM LLC’s assets | Tradeweb Markets Inc., TWM LLC, Continuing LLC Owners | 50% | tax receivable agreement liability... totaled $335.8 million; increases in the tax basis of TWM LLC’s assets; TWM LLC and the Continuing LLC Owners; equal to 50% of the amount; unpaid amounts... will accrue interest | ['TRA share is 50% of realized tax savings.'] | 1,758,730 | 2026-04-29 | 10-Q | View Document | 50% | ||
| KKR & Co. Inc. | $335.12 | exchanges of KKR Holdings equity | Current and Former Employees; KKR Holdings | undiscounted payable of $335.1 million; Current and Former Employees; exchanges of KKR Holdings equity; terminated the tax receivable agreement | ['TRA terminated May 30, 2022 except for prior exchanges.'] | 1,404,912 | 2026-05-08 | 10-Q | View Document | ||||
| Brighthouse Financial, Inc. | $328.00 | MetLife, Inc. | payable to MetLife of $328 million; Tax Receivables Agreement with MetLife; accelerated upon closing of the Merger | ['Payable would be accelerated upon closing of the Merger.'] | 1,685,040 | 2026-05-07 | 10-Q | View Document | |||||
| Brighthouse Financial, Inc. | $328.00 | net operating losses, capital losses, tax basis and amortization or depreciation deductions | MetLife | 86% | payable to MetLife of $328 million; net operating losses, capital losses, tax basis; amortization or depreciation deductions; equal to 86% of the amount; accelerated upon closing of the Merger | ['Liability accelerated upon closing of the Merger.'] | 1,685,040 | 2026-02-24 | 10-K | View Document | 86% | ||
| Artisan Partners Asset Management Inc. | $305.20 | Preferred units tax attributes, partnership unit step-up, imputed interest, depreciation and amortization charges | Pre-H&F Corp Merger Shareholder, current or former limited partners of Holdings | 85% | TRA liability... $305.2 million; 85% of the applicable cash savings; Pre-H&F Corp Merger Shareholder; current or former limited partners; tax attributes of the preferred units; partnership units sold or exchanged; imputed interest | ['Two TRAs exist.', 'Expected 2026 payments total $40.4 million.'] | 1,517,302 | 2026-05-04 | 10-Q | View Document | 85% | ||
| Moelis & Co | $301.10 | increases in tax basis; imputed interest; tangible and intangible assets | eligible Managing Directors | 85% | total payable of $301.1 million; 85% of the amount of cash savings; increases in tax basis; imputed interest; tangible and intangible assets; eligible Managing Directors | [] | 1,596,967 | 2026-02-26 | 10-K | View Document | 85% | ||
| GPGI, Inc. | $293.30 | increase in the tax basis of GPGI Holdings’ assets | GPGI Holdings and holders of interests therein | 90% | Total payments $293.3; increase in the tax basis of GPGI Holdings’ assets; GPGI Holdings and holders of interests therein; payments of 90% of the tax benefits; unpaid amounts... will accrue interest | ['TRA share percentage is 90%.'] | 1,823,144 | 2026-05-07 | 10-Q | View Document | 90% | ||
| GPGI, Inc. | $271.40 | Existing tax basis, increases in tax basis, tax benefits from TRA payments, net operating losses | Holdings and holders of interests in Holdings (TRA Parties) | 90% | 15% per annum | 90% of the benefits; recorded $271.4 million; existing tax basis in the assets; increases in tax basis; remaining net operating losses; discount rate equal to 15% per annum | ['TRA share is 90%.', 'Discount rate amended to 15% in September 2024.'] | 1,823,144 | 2026-03-12 | 10-K | View Document | 90% | |
| Moelis & Co | $269.34 | Tax basis of Group LP's tangible and intangible assets; imputed interest | Eligible Managing Directors | 85% | Amount due pursuant to tax receivable agreement 269,344; 85% of the amount of cash savings; increases in tax basis; imputed interest; eligible Managing Directors | ['Payments required within 225 days of tax filing.'] | 1,596,967 | 2026-04-30 | 10-Q | View Document | 85% | ||
| AdaptHealth Corp. | $265.70 | Tax attributes of Access Point Medical, Inc.; increases in tax basis from exchanges; imputed interest; increases in tax basis from TRA payments | pre-Business Combination owners of AdaptHealth Units (TRA Holders); certain sellers; AdaptHealth Holdings members | 85% | liability relating to the TRA was $265.7 million; tax attributes of Access Point Medical, Inc.; pre-Business Combination owners of AdaptHealth Units; 85% of the net cash savings | ['Liability decreased from $290.4M in 2024 to $265.7M.'] | 1,725,255 | 2026-02-24 | 10-K | View Document | 85% | ||
| Cactus, Inc. | $264.80 | tax basis subject to the TRA | certain direct and indirect owners of Cactus LLC | 85% | total liability from the TRA was $264.8 million; tax basis subject to the TRA; certain direct and indirect owners of Cactus LLC; 85% of the net cash savings; accrue interest from the due date | ['Liability revalued due to forecasted state tax rate.'] | 1,699,136 | 2026-05-08 | 10-Q | View Document | 85% | ||
| Cactus, Inc. | $262.90 | Increases in tax basis (tangible/intangible assets), imputed interest, basis from debt repayment | TRA Holders (direct/indirect owners), officers, directors, employees | 85% | liability under the TRA of $262.9 million; 85% of the net cash savings; certain increases in tax basis; imputed interest; TRA Holders; officers, directors and employees | [] | 1,699,136 | 2026-02-26 | 10-K | View Document | 85% | ||
| Stagwell Inc | $254.90 | Increases in tax basis of OpCo's assets (tangible and intangible) and tax benefits from TRA payments. | Stagwell Media, OpCo, Stagwell Inc. | 85% | recorded a TRA liability of $254.9 million; increases in the tax basis of OpCo’s assets; 85% of such tax benefits; Stagwell Media under our Tax Receivables Agreement | ['Liability increased following April 2025 Class C Exchange.'] | 876,883 | 2026-03-13 | 10-K | View Document | 85% | ||
| Clear Secure, Inc. | $252.45 | Increase in tax basis in Alclear’s assets; imputed interest | Remaining members of Alclear (Alclear Members) | 85% | recorded a tax receivable agreement liability of $252,452; increase in tax basis in Alclear’s assets; remaining members of Alclear; 85% of the net cash savings | [] | 1,856,314 | 2026-05-06 | 10-Q | View Document | 85% | ||
| Stagwell Inc | $252.39 | Increases in tax basis of OpCo assets | Stagwell Media | 85% | Tax Receivable Agreement liability (1) $252,390; increases in the tax basis of the assets; make cash payments to Stagwell Media; equal to 85% of certain... tax savings | ['All Paired Units exchanged for Class A Shares.'] | 876,883 | 2026-05-01 | 10-Q | View Document | 85% | ||
| Shift4 Payments, Inc. | $247.00 | taxable exchange | Shift4 Payments, Inc., Rook Holdings Inc., Jared Isaacman | TRA liability was $247 million; Up-C Collapse via a taxable exchange; Rook assigned all of its rights; Jared Isaacman; Rook Holdings Inc. | ['Rook assigned and waived TRA rights in Feb 2026.'] | 1,794,669 | 2026-05-07 | 10-Q | View Document | ||||
| Shake Shack Inc. | $246.80 | SSE Holdings net asset tax basis increases, TRA payment basis increases, imputed interest deductions. | Non-controlling interest holders of SSE Holdings. | 85% | obligations totaled $246.8 million; increases in the tax basis; non-controlling interest holders; 85% of the amount of any tax benefits | ['Payments not conditioned on continued ownership.'] | 1,620,533 | 2026-02-26 | 10-K | View Document | 85% | ||
| Shake Shack Inc. | $246.00 | Tax basis increases from redemptions, TRA payments, imputed interest | Certain then-existing non-controlling members of SSE Holdings | 85% | Total obligations under the Tax Receivable Agreement $246,008; pay the non-controlling interest holders 85%; increases in the Company's share of tax basis; certain then-existing non-controlling members of SSE Holdings | ['Payments not conditioned upon any continued ownership interest.'] | 1,620,533 | 2026-05-07 | 10-Q | View Document | 85% | ||
| Clear Secure, Inc. | $244.70 | Increase in tax basis in Alclear’s assets; imputed interest | CLEAR Post-IPO Members; Alclear Members; TRA Holders | 85% | Lesser of 6.5% or LIBOR + 100bp | liability due was $244.7 million; increase in tax basis in Alclear’s assets; CLEAR Post-IPO Members; 85% of the amount of cash savings; lesser of 6.5% or LIBOR plus 100bp | [] | 1,856,314 | 2026-02-25 | 10-K | View Document | 85% | |
| European Wax Center, Inc. | $243.60 | Existing tax basis; basis adjustments; Blocker tax attributes; TRA payment tax benefits | EWC Ventures Pre-IPO Members | 85% | Lesser of 6.5% or one year SOFR + 100bp | aggregate to approximately $243.6 million; 85% of the benefits; existing tax basis of tangible and intangible assets; EWC Ventures Pre-IPO Members; lesser of 6.5% or SOFR plus 100bp | [] | 1,856,236 | 2026-04-27 | 10-K/A | View Document | 85% | |
| OPAL Fuels Inc. | $240.80 | tax basis increases, loss carryovers | OPAL Fuels Inc, Opal Holdco LLC | undiscounted liability of approximately $240.8 million; tax basis increases associated with the deemed exchange; utilization of certain loss carryovers; OPAL Fuels Inc, Opal Holdco LLC | ['Full valuation allowance applied to deferred tax assets.'] | 1,842,279 | 2026-03-16 | 10-K | View Document | ||||
| AdaptHealth Corp. | $238.90 | Pre-Business Combination tax attributes, basis increases from exchanges, imputed interest, basis increases from TRA payments | Certain current and former members of AdaptHealth Holdings LLC | 85% | liability relating to the TRA was $238.9 million; payment by AdaptHealth Corp. of 85%; current and former members of AdaptHealth Holdings LLC; certain increases in tax basis; imputed interest deemed to be paid | [] | 1,725,255 | 2026-05-05 | 10-Q | View Document | 85% | ||
| Hamilton Lane INC | $235.40 | Tax basis step-ups (tangible and intangible assets), specially allocated losses, and tax benefits from TRA payments. | Pre-IPO members of HLA (TRA Recipients). | 85% | liability of $235.4 million; increases in tax basis; tangible and intangible assets; 85% of the amount of tax savings; pre-IPO members of HLA; interest accrued from the due date | ['Additional $28.9 million payable if valuation allowance released.'] | 1,433,642 | 2026-05-21 | 10-K | View Document | 85% | ||
| WaterBridge Infrastructure LLC | $218.50 | Tax basis increases from exchanges, existing tax basis of OpCo assets, NOLs, interest expense carryforwards, and imputed interest. | OpCo, TRA Holders, Elda River Infrastructure WB LLC | 85% | TRA liability balance of $218.5 million; 85% of the net cash savings; tax basis increases resulting from the exchange; existing tax basis of assets of OpCo; NOLs and interest expense carryforwards; TRA with OpCo and the TRA Holders | ['Liability primarily from existing basis and NOLs.'] | 2,064,947 | 2026-05-07 | 10-Q | View Document | 85% | ||
| Legence Corp. | $217.00 | Existing tax basis, blocker tax attributes, basis increases from exchanges, TRA payment benefits | Legence Parent and Legence Parent II (the “TRA Members”) | 85% | current and long-term TRA liability is $8.2 million and $208.8 million; 85% of the net cash tax savings; Legence Parent and Legence Parent II; allocable share of existing tax basis; utilization of certain tax attributes of blocker entities; increases in tax basis from future redemptions | ['Liability increased $9.8 million from overallotment option exercise.'] | 2,052,568 | 2026-05-14 | 10-Q | View Document | 85% | ||
| Interactive Brokers Group, Inc. | $217.00 | Tax basis increases, foreign tax credits, amortization of intangible assets | IBG, Inc., Holdings, former members of IBG LLC | 85% | Payable to Holdings... $217 million; 85% of the tax savings; result of tax basis increases; amortization of intangible assets; use foreign tax credits | ['Payments reported in payables to affiliate.'] | 1,381,197 | 2026-02-27 | 10-K | View Document | 85% | ||
| Legence Corp. | $207.40 | Existing tax basis, Blocker Entities tax attributes, Basis Adjustments, TRA payment tax benefits | Legence Parent, Legence Parent II, Legacy Owners | 85% | SOFR + 100bp | total undiscounted TRA liability is $207.4 million; allocable share of existing tax basis; tax attributes of the Blocker Entities; Basis Adjustments; TRA with Legence Parent and Legence Parent II; 85% of the net cash savings; SOFR plus 100 basis points | ['Early termination payment estimated at $545 million', 'Secondary offering increased liability by $58 million'] | 2,052,568 | 2026-03-30 | 10-K | View Document | 85% | |
| Forgent Power Solutions, Inc. | $207.30 | Opco LLC Interests basis, Blocker NOLs, existing basis, basis adjustments | Forgent Parent I LP, Forgent Parent II LP, Forgent Parent III LP, Forgent Parent IV LP | 85% | total amount due under TRA was $207.3 million; 85% of the amount of tax savings; Forgent Parent I LP, Forgent Parent II LP; net operating losses; allocable share of tax basis | [] | 2,080,126 | 2026-05-14 | 10-Q | View Document | 85% | ||
| European Wax Center, Inc. | $201.98 | Existing tax basis; tangible and intangible assets basis adjustments | EWC Ventures pre-IPO members | 85% | future payments expected to be $201,980; 85% of the applicable cash tax savings; EWC Ventures pre-IPO members; existing tax basis of tangible and intangible assets | [] | 1,856,236 | 2026-05-13 | 10-Q | View Document | 85% | ||
| European Wax Center, Inc. | $201.50 | Existing tax basis; basis adjustments; Blocker Company tax attributes; TRA payment tax benefits | EWC Ventures Pre-IPO Members; EWC Ventures; General Atlantic; EWC Founder Holdco | 85% | Lesser of 6.5% or one year SOFR + 100bp | recorded a liability of $201.5 million; existing tax basis; adjustments to the tax basis; 85% of the amount of tax benefits; one year SOFR plus 100 basis points | ['General Atlantic waived change of control payment.'] | 1,856,236 | 2026-03-04 | 10-K | View Document | 85% | |
| WaterBridge Infrastructure LLC | $201.40 | Existing Basis, Basis Adjustments, Historical NOLs, Interest Deductions, NOLs and interest expense carryforwards of WB 892, Imputed Interest | OpCo, TRA Holders (Legacy Owners) | 85% | SOFR + 100bp | recorded a TRA liability of $201.4 million; Existing Basis, Basis Adjustments, Historical NOLs, Interest Deductions; OpCo and certain of our shareholders (TRA Holders); 85% of the amount of cash tax savings; SOFR plus 100 basis points | ['Early termination payment estimated at $589.2 million.'] | 2,064,947 | 2026-03-16 | 10-K | View Document | 85% | |
| Repay Holdings Corp | $200.90 | tax basis step-up, imputed interest, and tax benefits from TRA payments | Repay Unitholders (holders of Post-Merger Repay Units) | 100% | liability of $200.9 million; tax basis step-up; imputed interest; Repay Unitholders; pay 100% of the tax benefits | ['TRA share is 100% of tax benefits.', 'Liability measured at fair value under ASC 825.'] | 1,720,592 | 2026-03-09 | 10-K | View Document | 100% | ||
| UWM Holdings Corp | $196.90 | Basis increases from exchanges, imputed interest, basis increases from TRA payments, Section 704(c) allocations | SFS Corp. | 85% | liability arising from the TRA of $196.9 million; 85% of the amount of cash savings; increases in tax basis resulting from exchanges; SFS Corp. (or its transferees or other assignees); deferred and will accrue interest until paid | [] | 1,783,398 | 2026-02-25 | 10-K | View Document | 85% | ||
| Repay Holdings Corp | $191.80 | Tax basis increases in Hawk Parent net assets, TRA payment basis increases, imputed interest deductions | Holders of Post-Merger Repay Units, selling Hawk Parent members | 100% | liability of $191.8 million; increases in its share of the tax basis; holders of Post-Merger Repay Units; 100% of the amount of any tax benefits | ['TRA share is 100%, higher than industry standard 85%.'] | 1,720,592 | 2026-05-04 | 10-Q | View Document | 100% | ||
| Five Point Holdings, LLC | $181.90 | Tax attributes from unit exchanges; California NOLs | Holders of Operating Company Class A Common Units | 85% | liabilities of $181.9 million; 85% of the cash savings; holders of Class A Common Units; result of certain tax attributes | ['California SB 167 suspends NOL usage 2024-2026.'] | 1,574,197 | 2026-04-24 | 10-Q | View Document | 85% | ||
| Five Point Holdings, LLC | $181.50 | Basis increases from exchanges; Section 704(c) allocations; imputed interest; guaranteed payments. | Holders of Class A units of the operating company and San Francisco Venture. | 85% | liabilities of $181.5 million; 85% of the amount of cash savings; increases in tax basis; Section 704(c) of the Code; imputed interest or guaranteed payments; holders of Class A units | ['Termination payment estimated at $123.9 million.', 'California SB 167 may accelerate payments 2026-2028.'] | 1,574,197 | 2026-03-06 | 10-K | View Document | 85% | ||
| SOLV Energy, Inc. | $172.34 | Existing tax basis, Blocker tax attributes (NOLs), tax basis adjustments, interest deductions | SOLV Energy, Inc., SOLV Energy Holdings LLC, Continuing Equity Owners, Blocker Shareholders | 85% | Tax receivable agreement 172,344; 85% of the tax benefits; allocable share of existing tax basis; utilization of certain tax attributes; tax basis adjustments; interest deductions arising from payments | ['Liability recorded in connection with IPO and Transactions.'] | 2,065,636 | 2026-05-13 | 10-Q | View Document | 85% | ||
| Goosehead Insurance, Inc. | $171.90 | Tax basis increases; imputed interest; tangible and intangible assets | Pre-IPO LLC Members | 85% | total amount of TRA Payments... $171.9 million; increase in tax basis in GSHD's assets; Pre-IPO LLC Members; 85% of the amount of cash savings | [] | 1,726,978 | 2026-04-23 | 10-Q | View Document | 85% | ||
| PBF Energy Inc. | $168.20 | Increases in tax basis of PBF LLC assets; tax benefits from TRA payments | PBF LLC Series A and PBF LLC Series B unitholders | 85% | liability of $168.2 million; increases in tax basis; tax benefits attributable to payments; PBF LLC Series A and Series B unitholders; amount equal to 85% of the amount | [] | 1,534,504 | 2026-04-30 | 10-Q | View Document | 85% | ||
| PBF Holding Co LLC | $168.20 | Increases in tax basis; tax benefits from TRA payments | PBF LLC Series A and Series B unitholders | 85% | Pro rata | total liability... of $168.2 million; increases in tax basis; PBF LLC Series A and Series B unitholders; amount equal to 85%; PBF LLC makes on a pro-rata basis | ['PBF Energy is obligor, not PBF Holding.'] | 1,566,011 | 2026-02-23 | 10-K | View Document | 85% | |
| Virtu Financial, Inc. | $166.50 | Basis increase from exchanges, IPO intangible assets, NOLs | Direct or indirect equity holders (TRA Parties) | 85% | liabilities... were approximately $166.5 million; increase to the tax basis; NOLs; direct or indirect equity holders; 85% of the... tax savings; accrue interest until paid | ['Payments expected $0.3 million to $22.5 million annually.'] | 1,592,386 | 2026-05-01 | 10-Q | View Document | 85% | ||
| Rithm Capital Corp. | $165.40 | taxable acquisitions of Sculptor operating partnership units; net operating losses | Sculptor; former holders of units in Sculptor’s operating partnerships (TRA Holders) | TRA liability measured at amortized cost was $165.4 million; taxable acquisitions of Sculptor operating partnership units; former holders of units in Sculptor’s operating partnerships; including net operating losses | ['TRA liability presented within unsecured notes on balance sheet.'] | 1,556,593 | 2026-05-04 | 10-Q | View Document | ||||
| OLAPLEX HOLDINGS, INC. | $165.10 | Intangible assets and capitalized transaction costs existing at IPO; payments under the TRA. | Pre-IPO Stockholders (former limited partners of Penelope Group Holdings, L.P. and Award Holders). | 85% | LIBOR + 5% | Not pro rata | adjusted liability as of December 31, 2025 was $165.1 million; intangible assets and capitalized transaction costs; pay the Pre-IPO Stockholders 85% of cash savings; unpaid amount... LIBOR plus 5%; Different timing rules apply to... Award Holders | ['Liability decreased $9.5 million due to OBBBA.', 'Payments expected to continue through 2038.'] | 1,868,726 | 2026-03-05 | 10-K | View Document | 85% |
| OLAPLEX HOLDINGS, INC. | $165.10 | amortization of intangible assets and capitalized transaction costs | Pre-IPO Stockholders | 85% | Related Party payable pursuant to Tax Receivable Agreement; amortization of intangible assets and capitalized transaction costs; Pre-IPO Stockholders; pay Pre-IPO Stockholders 85% of cash savings | ['TRA Waiver and Amendment entered for proposed merger.'] | 1,868,726 | 2026-05-11 | 10-Q | View Document | 85% | ||
| Galaxy Digital Inc. | $150.40 | Increase in tax basis in GDH LP’s assets, imputed interest, depreciable or amortizable tax basis | Present and former limited partners of GDH LP (TRA Holders) | 85% | TRA-related liability... of $150.4 million; increase in tax basis in GDH LP’s assets; present and former limited partners; 85% of the amount of cash savings | ['Amended and restated on May 13, 2025.'] | 1,859,392 | 2026-02-26 | 10-K | View Document | 85% | ||
| Galaxy Digital Inc. | $149.40 | Increases in tax basis from unit exchanges; imputed interest | Holders of Class B Units in GDH LP; TRA Holders | 85% | liability... of $149.4 million; increase in tax basis in GDH LP’s assets; deductions in respect of imputed interest; holders of Class B Units in GDH LP; 85% of the cash savings | ['Amended and restated TRA entered May 13, 2025.'] | 1,859,392 | 2026-05-08 | 10-Q | View Document | 85% | ||
| Baldwin Insurance Group, Inc. | $144.60 | increase in tax basis in Baldwin Holdings assets; imputed interest | Baldwin Holdings’ LLC Members | 85% | Tax Receivable Agreement liabilities of $144.6 million; increase in tax basis in Baldwin Holdings assets; Baldwin Holdings’ LLC Members; 85% of the amount of cash savings | ['Liability recognized in Q1 2026 after valuation allowance removal.'] | 1,781,755 | 2026-05-04 | 10-Q | View Document | 85% | ||
| Rush Street Interactive, Inc. | $133.40 | increase in tax basis; tax benefits related to entering into the TRA; tax benefits attributable to payments under the TRA | Special Limited Partner | 85% | recognized a TRA liability of $133.4 million; increase in tax basis and tax benefits; Special Limited Partner entered into the TRA; pay 85% of certain net tax benefits; accrue interest until paid | ['Liability increase due to RSILP Unit exchanges.'] | 1,793,659 | 2026-04-29 | 10-Q | View Document | 85% | ||
| MediaAlpha, Inc. | $131.10 | Tax basis step-up of QLH assets; net operating losses of Intermediate Holdco; imputed interest | Insignia, the Senior Executives, and White Mountains | 85% | SOFR | recorded a $131.1 million liability; tax basis step-up of the assets; Insignia, the Senior Executives, and White Mountains; 85% of the amount of the cash savings; replace the LIBOR with the SOFR | ['TRA amended 2023 to replace LIBOR with SOFR.'] | 1,818,383 | 2026-02-23 | 10-K | View Document | 85% | |
| Driven Brands Holdings Inc. | $129.30 | Pre-IPO tax attributes; depreciation and amortization deductions; tax basis in intangible assets | Principal Stockholders; senior management team; certain current or prior stockholders | 85% | SOFR plus an applicable term adjustment plus 5% | current $56 million; non-current $73 million; depreciation and amortization deductions; tax basis in intangible assets; Principal Stockholders, and our senior management team; 85% of the amount of cash savings; SOFR plus an applicable term adjustment plus 5% | ['Interest rate transitioned from LIBOR to SOFR.'] | 1,804,745 | 2026-05-19 | 10-K | View Document | 85% | |
| MediaAlpha, Inc. | $123.40 | Tax basis in net assets of QLH; NOLs of Intermediate Holdco; imputed interest | Insignia; Senior Executives; White Mountains; Class B-1 unit holders | 85% | SOFR | accrued $123.4 million; tax basis in the net assets; net operating losses of Intermediate Holdco; Insignia, Senior Executives, and White Mountains; 85% of the amount; replace the LIBOR with the SOFR | ['Amended Oct 2023 to replace LIBOR with SOFR.'] | 1,818,383 | 2026-04-29 | 10-Q | View Document | 85% | |
| Nerdy Inc. | $118.20 | Increases in tax basis; imputed interest; additional basis | Legacy Nerdy Holders | 85% | 85% of the net cash savings; certain Legacy Nerdy Holders; not recognized a liability of $118,238; increases in tax basis; imputed interest | ['Liability not recognized; payments not considered probable.'] | 1,819,404 | 2026-05-07 | 10-Q | View Document | 85% | ||
| Brookfield Asset Management Ltd. | $116.00 | tax attributes purchased from a related party | Oaktree | payable under a tax receivable agreement with Oaktree; $116 million as of March 31, 2026; tax attributes purchased from a related party | [] | 1,937,926 | 2026-05-08 | 10-Q | View Document | ||||
| Brookfield Asset Management Ltd. | $116.00 | tax attributes purchased from a related party | Oaktree | amounts payable under a tax receivable agreement; with Oaktree for $116 million; tax attributes purchased from a related party | [] | 1,937,926 | 2026-03-02 | 10-K | View Document | ||||
| loanDepot, Inc. | $111.00 | tax basis of loanDepot, Inc.’s investment in LD Holdings | Parthenon Stockholders, certain Continuing LLC Members | TRA liability of $111.0 million; tax basis of loanDepot, Inc.’s investment; Parthenon Stockholders and certain Continuing LLC Members; estimate of the aggregate amount | ['No payments made during three months ended 2026.'] | 1,831,631 | 2026-05-07 | 10-Q | View Document | ||||
| loanDepot, Inc. | $109.10 | Tax basis adjustments, incremental tax basis adjustments, and deemed interest deductions | Parthenon Stockholders, Parthenon affiliates, and certain Continuing LLC Members | 85% | TRA liability of $109.1 million; 85% of the amount of cash savings; tax basis adjustments; incremental tax basis adjustments; deemed interest deductions; Parthenon Stockholders; Continuing LLC Members | ['Liability increased due to LLC unit exchanges.'] | 1,831,631 | 2026-03-12 | 10-K | View Document | 85% | ||
| Evolent Health, Inc. | $108.90 | Increases in tax basis from Class B exchanges; pre-IPO NOLs | Certain investors | 85% | TRA liability of $108.9 million; increases in our tax basis; utilization of pre-IPO NOLs; certain of its investors; 85% of the amount of tax benefits | ['Liability unchanged from December 31, 2025.'] | 1,628,908 | 2026-05-07 | 10-Q | View Document | 85% | ||
| Evolent Health, Inc. | $108.90 | Tax basis step-up, pre-IPO NOLs, imputed interest, future basis increases | Investor Stockholders, TRA Holders, Evolent Health Holdings, affiliate of TPG | 85% | recorded a TRA liability of $108.9 million; tax basis step-up; pre-IPO NOLs; imputed interest; pay the TRA Holders 85% | ['Liability includes $17.8M NOLs and $91.1M basis step-up.'] | 1,628,908 | 2026-02-25 | 10-K | View Document | 85% | ||
| Perella Weinberg Partners | $94.00 | exchange of interests in PWP OpCo; step-up in tax basis; payments made under the TRA | PWP OpCo, Professional Partners, Investor Limited Partners | 85% | liability of $94.0 million; exchange of interests in PWP OpCo; step-up in tax basis; Professional Partners and Investor Limited Partners; payment of 85% of the amount | [] | 1,777,835 | 2026-05-01 | 10-Q | View Document | 85% | ||
| Perella Weinberg Partners | $93.50 | Tax basis of tangible and intangible assets; depreciation and amortization deductions; payments under the TRA | Investor Limited Partners (ILPs), Professional Partners, and certain Partners | 85% | amount due of $93.5 million; increases in the tax basis of the assets; 85% of the cash tax savings; Investor Limited Partners, Professional Partners, certain Partners | [] | 1,777,835 | 2026-02-27 | 10-K | View Document | 85% | ||
| Flowco Holdings Inc. | $92.40 | Basis Adjustments, Section 704(c) Allocations, interest deductions, existing tax basis | Flowco Holdings, Flowco LLC, Continuing Equity Owners | 85% | total amount due under the TRA was $92.4 million; Basis Adjustments, Section 704(c) Allocations, and interest deductions; Flowco Holdings, Flowco LLC and the Continuing Equity Owners; 85% of certain tax benefits | ['Company has yet to make its first TRA payment.', 'Liability increased by $70.5M due to unit redemptions.'] | 2,035,149 | 2026-05-06 | 10-Q | View Document | 85% | ||
| Sun Country Airlines Holdings, Inc. | $87.17 | Pre-IPO Tax Attributes (including net operating loss carryforwards) | Pre-IPO stockholders (including management and Board members) | 85% | aggregate to approximately $87,169; Pre-IPO Tax Attributes, include net operating loss carryforwards; pre-IPO stockholders, management and Board of Directors; 85% of the amount of cash savings; deferred and will accrue interest until paid | [] | 1,743,907 | 2026-04-30 | 10-K/A | View Document | 85% | ||
| Sun Country Airlines Holdings, Inc. | $87.14 | Pre-IPO Tax Attributes | pre-IPO stockholders, management, Board of Directors | TRA balance as of March 31, 2026... $87,137; attributes that existed at the time of IPO; pre-IPO stockholders (the 'TRA holders'); includes certain members of the Company's management | ['TRA terminates upon merger with Allegiant.'] | 1,743,907 | 2026-05-01 | 10-Q | View Document | ||||
| ProFrac Holding Corp. | $86.60 | Increases in tax basis from Unit acquisitions; imputed interest | TRA Holders | 85% | (greater of 0.25% or 180-Day Average SOFR) + 150bp | TRA obligation $4.6 million and $82.0 million; 85% of the net cash savings; increases in tax basis; imputed interest; TRA Holders; SOFR plus 150 basis points | ['Estimated termination payments up to $86 million.'] | 1,881,487 | 2026-03-13 | 10-K | View Document | 85% | |
| ProFrac Holding Corp. | $86.60 | tax benefits covered by the tax receivable agreement | $86.6 million of estimated tax receivable agreement obligations; Tax receivable agreement liability 82.0; Tax receivable agreement obligation 4.6; realizes actual cash tax savings from the tax benefits | ['Liability includes $4.6M current and $82.0M non-current portions.'] | 1,881,487 | 2026-05-08 | 10-Q | View Document | |||||
| Solaris Energy Infrastructure, Inc. | $76.30 | Increases in tax basis, imputed interest, additional tax basis from TRA payments | Existing members of Solaris LLC (TRA Holders) | 85% | Pro rata | liability under the Tax Receivable Agreement was $76.3; 85% of the net cash savings; increases in tax basis; imputed interest; existing members of Solaris LLC; distribute cash pro rata | ['Early termination undiscounted liability estimated at $206.0 million.'] | 1,697,500 | 2026-02-27 | 10-K | View Document | 85% | |
| Solaris Energy Infrastructure, Inc. | $75.00 | Increases in tax basis, imputed interest, and additional tax basis from TRA payments | Other then-existing members of Solaris LLC | 85% | Pro rata | liability under the TRA was $75.0 million; increases in tax basis and certain tax benefits; other then-existing members of Solaris LLC; representing 85% of the net cash savings; distribute cash pro rata to each member | ['TRA was amended on June 27, 2023.'] | 1,697,500 | 2026-05-01 | 10-Q | View Document | 85% | |
| Carlyle Group Inc. | $71.80 | increases in tax basis resulting from exchanges | limited partners of the Carlyle Holdings partnerships | 85% | Amounts owed under the tax receivable agreement $71.8; increases in tax basis resulting from exchanges; limited partners of the Carlyle Holdings partnerships; 85% of the amount of cash tax savings | ['Rights limited to pre-existing obligations after 2020 Conversion.'] | 1,527,166 | 2026-02-27 | 10-K | View Document | 85% | ||
| Liberty Energy Inc. | $66.90 | increases in tax basis; net operating losses; imputed interest | R/C Energy IV Direct Partnership, L.P.; existing owners of Liberty LLC Units | 85% | liability under the TRAs was $66.9 million; 85% of the net cash savings; increases in tax basis; net operating losses; imputed interest; R/C Energy IV Direct Partnership, L.P. | ['Two TRAs entered January 17, 2018.'] | 1,694,028 | 2026-04-23 | 10-Q | View Document | 85% | ||
| Carlyle Group Inc. | $64.10 | increases in tax basis resulting from exchanges | limited partners of the Carlyle Holdings partnerships | 85% | Amounts owed under the tax receivable agreement; increases in tax basis resulting from exchanges; limited partners of the Carlyle Holdings partnerships; 85% of the amount of cash tax savings | ['Rights limited to pre-existing obligations after Conversion.'] | 1,527,166 | 2026-05-08 | 10-Q | View Document | 85% | ||
| Zevia PBC | $59.20 | NOLs, existing tax basis, basis increases from exchanges, imputed interest | Continuing members of Zevia LLC, Direct Zevia Stockholders | 85% | Secured Overnight Financing Rate + 300bp | totaled $59.2 million at March 31, 2026; net operating losses and existing tax basis; continuing members of Zevia LLC; 85% of the tax benefits realized; Secured Overnight Financing Rate plus 300 basis points | ['No liability recorded due to full valuation allowance.'] | 1,854,139 | 2026-05-06 | 10-Q | View Document | 85% | |
| Excelerate Energy, Inc. | $58.81 | Increases in tax basis from exchanges; existing tax basis; assets purchased from Foundation; TRA payment tax benefits | EE Holdings, the Foundation | 85% | TRA liability 51,122; Current portion of TRA liability 7,685; increases in the tax basis; existing tax basis of assets; TRA with EE Holdings and the Foundation; 85% of the amount | ['Liability includes current and long-term portions.'] | 1,888,447 | 2026-05-07 | 10-Q | View Document | 85% | ||
| Excelerate Energy, Inc. | $58.80 | Increases in tax basis from exchanges; existing tax basis of assets; tax basis of IPO Vessels; tax benefits from TRA payments. | EE Holdings; George Kaiser Family Foundation (the “Foundation”) | 85% | expected future payments... equal $58.8 million; increases in the tax basis of assets; EE Holdings and the George Kaiser Family Foundation; 85% of the amount of net cash savings; interest accrued from the due date | ['Hypothetical liability of $375.6 million if all interests exchanged.'] | 1,888,447 | 2026-02-27 | 10-K | View Document | 85% | ||
| Amneal Pharmaceuticals, Inc. | $57.50 | Basis adjustments under Section 754; tax benefits from TRA payments | Members of the Amneal Group; permitted transferees | 75% | TRA liability of $57.5 million; basis adjustments under Internal Revenue Code Section 754; members of the Amneal Group; 75% of the realized tax benefits | ['TRA share reduced from 85% to 75%.', 'Unrecorded contingent liability of $129.1 million.'] | 1,723,128 | 2026-02-27 | 10-K | View Document | 75% | ||
| Lazard, Inc. | $57.05 | Tax basis increases of certain assets and basis increases from TRA payments | Lazard, Inc., LTBP Trust, owners of the Trust | 45% and 85% | Pro rata | cumulative liability... 2025... $57,051; increases in the tax basis of certain assets; Lazard and LTBP Trust; approximately 45% of the amount of cash savings; distributed pro rata to the owners | ['Two-tier structure: 45% primary and 85% secondary savings.'] | 1,311,370 | 2026-02-23 | 10-K | View Document | 45% and 85% | |
| GCM Grosvenor Inc. | $54.60 | increases in the tax basis in assets | TRA Parties | 85% | amount payable... was $54.6 million; increases in the tax basis; to the TRA Parties; pay 85% of the amount | [] | 1,819,796 | 2026-05-07 | 10-Q | View Document | 85% | ||
| Lazard, Inc. | $46.83 | increases in the tax basis of certain assets | Lazard; LTBP Trust | 45% and 85% | Pro rata | cumulative liability... March 31, 2026... $46,832; increases in the tax basis of certain assets; Lazard and LTBP Trust; approximately 45%... and... 85%; distributed pro rata to the owners | ['TRA term continues until approximately 2033.', 'Split payment percentages of 45% and 85%.'] | 1,311,370 | 2026-05-04 | 10-Q | View Document | 45% and 85% | |
| VERRA MOBILITY Corp | $43.70 | net cash savings in U.S. federal, state and local income tax | PE Greenlight Holdings, LLC, Lakeside Smart Holdco L.P (“Lakeside”) | 50.0% | TRA liability was approximately $43.7 million; payment to Lakeside of 50.0% of net cash savings; PE Greenlight Holdings, LLC; Lakeside Smart Holdco L.P | ['TRA share is 50.0%, lower than industry standard 85%.'] | 1,682,745 | 2026-02-24 | 10-K | View Document | 50.0% | ||
| VERRA MOBILITY Corp | $43.67 | Tax receivable agreement liability, current portion 5,257; Tax receivable agreement liability, net of current portion 38,418 | [] | 1,682,745 | 2026-05-06 | 10-Q | View Document | ||||||
| Select Water Solutions, Inc. | $43.40 | Increases in tax basis from SES Holdings LLC Units, NOLs, and imputed interest. | Legacy Owner Holdco, Crestview Partners II GP, L.P., and their affiliates. | 85% | 12-month term SOFR + 171.513 basis points | liability associated with the TRAs... $43.4 million; 85% of the net cash savings; increases in tax basis; NOLs; imputed interest; 12-month term SOFR... plus 171.513 basis points | ['OBBBA enacted July 4, 2025, defers payment timing.'] | 1,693,256 | 2026-05-06 | 10-Q | View Document | 85% | |
| Black Rock Coffee Bar, Inc. | $42.53 | Basis Adjustments, interest deductions from TRA payments | Black Rock OpCo, TRA Parties, Continuing Equity Owners | 85% | liability of approximately $42.5 million; Basis Adjustments and certain tax benefits; Black Rock OpCo and the TRA Parties; 85% of the amount of tax benefits | ['Liability increased due to LLC unit exchanges.'] | 2,068,577 | 2026-05-13 | 10-Q | View Document | 85% | ||
| OppFi Inc. | $39.80 | Increases in tax basis of tangible and intangible assets; Section 754; tax benefits from TRA payments | Members and exchanging holders of Retained OppFi-LLC Units | 90% | Tax receivable agreement liability 39,811; increases in tax basis in our assets; Members and/or the exchanging holders; 90% of the net income tax savings | ['TRA share is 90%, higher than industry standard.', 'Company began making TRA payments in 2025.'] | 1,818,502 | 2026-03-12 | 10-K | View Document | 90% | ||
| Hagerty, Inc. | $39.80 | Tax basis adjustments from exchanges; Section 754 adjustments; tax benefits from TRA payments | Hagerty Holding Corp. (HHC); Markel; Legacy Unit Holders | 85% | TRA Liability was $39.8 million; 85% of the cash tax benefits; HHC and Markel ("Legacy Unit Holders"); tax basis adjustments resulting from TRA exchanges; election under Section 754; tax benefits attributable to making payments | ['Liability established in 2025 following valuation allowance release.'] | 1,840,776 | 2026-02-26 | 10-K | View Document | 85% | ||
| MALIBU BOATS, INC. | $39.60 | Increases in tax basis; Section 754 election; tangible and intangible assets | Pre-IPO owners of the LLC (or permitted assignees) | 85% | Payable pursuant to tax receivable agreement; 85% of the amount of the benefits; increases in tax basis; pre-IPO owners of the LLC; Section 754 election | ['Liability decreased due to tax rate changes.'] | 1,590,976 | 2026-05-07 | 10-Q | View Document | 85% | ||
| Cardinal Infrastructure Group Inc. | $39.42 | tax basis step-up; 743(b); 197; NOLs; interest deductions | PubCo; OpCo; Continuing Equity Holders; Diamond Interests Group LLC; Seller Owners; Erik West; Mike Rowe; Jeremy Spivey | 85% | SOFR + 100bp | tax receivable agreement liability... totaled $39,423,529; tax basis step-up in OpCo's assets; NOL carryforward mechanics; Sections 743(b) and 197; 85% of the net cash tax savings; SOFR plus 100 basis points | ['TRA expanded via ALGC acquisition; separate TBA also exists.'] | 2,079,999 | 2026-05-13 | 10-Q | View Document | 85% | |
| Cardinal Infrastructure Group Inc. | $39.40 | Basis Adjustments; interest deductions | Cardinal Group Inc., Cardinal Civil Contracting Holdings LLC, Continuing Equity Holders | 85% | Lesser of 6.5% or SOFR + 100bp | liability... totaled $39,423,529; 85% of the tax benefits; increases in tax basis; interest deductions; lesser of 6.5%... SOFR plus 100 basis points | ['Liability estimated at $180.5M if all units exchanged.'] | 2,079,999 | 2026-03-23 | 10-K | View Document | 85% | |
| Black Rock Coffee Bar, Inc. | $38.90 | Basis Adjustments and interest deductions from TRA payments | Continuing Equity Owners (Co-Founders, affiliates, and Sponsor) | 85% | $38.9 million of liabilities related to our obligations; Basis Adjustments and certain tax benefits (interest deductions); Continuing Equity Owners, including our Co-Founders and Sponsor; 85% of the amount of tax benefits | ['Liability classified as non-current on balance sheet.'] | 2,068,577 | 2026-03-04 | 10-K | View Document | 85% | ||
| Hagerty, Inc. | $38.30 | Increases in tax basis and certain other tax benefits | Legacy Unit Holders (Hagerty Holding Corp. and Markel) | 85% | TRA Liability was $38.3 million; increases in tax basis; Legacy Unit Holders (Hagerty Holding Corp. and Markel); 85% of the cash tax savings | ['Liability recognized when future taxable income is probable.'] | 1,840,776 | 2026-05-06 | 10-Q | View Document | 85% | ||
| OneWater Marine Inc. | $37.50 | increases in tax basis and imputed interest | certain of the owners of OneWater LLC | 85% | undiscounted liability... was $37.5 million; increases in tax basis; tax benefits attributable to imputed interest; certain of the owners of OneWater LLC; 85% of the calculated net cash savings; deferred payments... generally will accrue interest | ['Liability is undiscounted.', 'Payments may be deferred if cash is unavailable.'] | 1,772,921 | 2026-05-04 | 10-Q | View Document | 85% | ||
| National CineMedia, Inc. | $35.70 | intangible asset related to the ESA Parties | Cinemark, AMC | Payable under the TRA 2.9; Payable under the TRA 32.8; TRA payments to Cinemark; no longer... obligation to make TRA payments; intangible asset related to the ESA Parties | ['AMC TRA obligation terminated in 2025.'] | 1,377,630 | 2026-05-12 | 10-Q | View Document | ||||
| OppFi Inc. | $35.05 | tax basis "step-up" | OppFi Inc., OppFi-LLC, Members | Tax receivable agreement liability 35,046; tax basis 'step-up' triggered by the Corporate Simplification; Company, OppFi-LLC and the other persons named therein; aggregate early termination payment of approximately $40.8 million | ['TRA amended and terminated in April 2026.'] | 1,818,502 | 2026-05-07 | 10-Q | View Document | ||||
| PJT Partners Inc. | $34.60 | increases in tax basis; tax benefits from payments | holders of Partnership Units | 85% | contractual obligations of $34.6 million; increases in tax basis related to such exchanges; holders of Partnership Units; 85% of the benefits | [] | 1,626,115 | 2026-04-30 | 10-Q | View Document | 85% | ||
| National CineMedia, Inc. | $33.80 | tax basis in NCM LLC’s tangible and intangible assets; 163(j) interest limitation | Cinemark, AMC (waived), Regal (waived) | 90% | payable under the TRA was $33.8 million; 90% of the amount of any tax benefits; tax basis in NCM LLC’s assets; AMC waived all rights and interests; Regal waived all rights and interests; impact from the Net Business Interest Expense Limitation | ['AMC and Regal waived all TRA rights.'] | 1,377,630 | 2026-02-26 | 10-K | View Document | 90% | ||
| i3 Verticals, Inc. | $32.40 | increase in tax basis; imputed interest | i3 Verticals, LLC; Continuing Equity Owners | 85% | total amount due... was $32.4 million; increase in tax basis associated with Common Units; i3 Verticals, LLC and Continuing Equity Owners; represents 85% of estimated future tax benefits | ['Payments expected over the next 22 years.'] | 1,728,688 | 2026-05-08 | 10-Q | View Document | 85% | ||
| AlTi Global, Inc. | $30.60 | increase in tax basis of the assets | TWMH Members, TIG GP Members, and TIG MGMT Members | 85% | liability associated with the TRA was $30.6 million; increase in tax basis of the assets; TWMH Members, TIG GP Members, TIG MGMT Members; pay certain parties 85% of tax benefits | ['Portion of TRA liability carried at fair value.'] | 1,838,615 | 2026-05-11 | 10-Q | View Document | 85% | ||
| PJT Partners Inc. | $30.30 | Increases in tax basis of tangible and intangible assets; tax benefits from TRA payments | Exchanging holders of Partnership Units (other than PJT Partners Inc.) | 85% | SOFR plus 500 basis points | contractual obligations ... of $30.3 million; increases in tax basis of tangible and intangible assets; holders of Partnership Units; 85% of the benefits; SOFR plus 500 basis points | ['Early termination estimated at $402.2 million.'] | 1,626,115 | 2026-02-26 | 10-K | View Document | 85% | |
| FORWARD AIR CORP | $28.25 | Tax attributes as of the date of exchanges; partnership tax rules; tax benefits from 700 shares issued | certain Omni Holders | liability of $10,580; total estimated payable of $17,675; tax attributes as of the date of exchanges; certain Omni Holders; tax benefits related to the 700 shares | ['Liability includes contingent consideration and estimated payables.'] | 912,728 | 2026-05-11 | 10-Q | View Document | ||||
| Definitive Healthcare Corp. | $27.20 | NOLs, tangible and intangible asset basis, 743(b) adjustments, TRA payments | Pre-IPO LLC Unit holders, former Blocker shareholders | 85% | balance of the TRA liability was $27.2 million; 85.0% of the amount of any tax benefits; tax attributes that it acquired from Blocker Companies; pre-IPO holders of LLC Units; accrue interest until paid | ['Goodwill impairment charges significantly reduced the TRA liability.'] | 1,861,795 | 2026-02-26 | 10-K | View Document | 85% | ||
| AlTi Global, Inc. | $25.70 | Increase in tax basis of Umbrella assets | TWMH Members, TIG GP Members, TIG MGMT Members | 85% | liability associated with the TRA was $25.7 million; increase in tax basis of the assets; TWMH Members, TIG GP Members, TIG MGMT Members; 85% of certain tax benefits | ['Portion of liability carried at fair value.'] | 1,838,615 | 2026-03-31 | 10-K | View Document | 85% | ||
| PennyMac Financial Services, Inc. | $24.80 | Increases in tax basis of PNMAC’s assets; tax benefits from TRA payments | Certain former owners of PNMAC; PNMAC’s exchanged unitholders | 85% | recorded a $24.8 million Payable; increases in tax basis of PNMAC’s assets; certain former owners of PNMAC; amount equal to 85% of the amount | [] | 1,745,916 | 2026-05-05 | 10-Q | View Document | 85% | ||
| Utz Brands, Inc. | $23.70 | Tax basis in net assets of UBH; tax basis increases from TRA payments; tax amortization deductions from Kennedy Endeavors acquisition. | Noncontrolling Interest Holders | 85% | liability of $23.7 million; 85% of the amount of any tax benefits; increases in the share of the tax basis; tax amortization deductions; Noncontrolling Interest Holders | ['Includes tax amortization from Kennedy Endeavors acquisition.'] | 1,739,566 | 2026-05-06 | 10-Q | View Document | 85% | ||
| Flowco Holdings Inc. | $22.00 | Basis Adjustments, Section 704(c) Allocations, Existing Tax Basis, Blocker tax attributes, interest deductions | Flowco Holdings, Flowco LLC, Continuing Equity Owners, TRA Participants, Blocker Shareholders | 85% | total amount due under the TRA was $22.0 million; 85% of certain tax benefits; Basis Adjustments, Section 704(c) Allocations; Flowco Holdings, Flowco LLC and the Continuing Equity Owners | ['Liability includes $8.8 million from 2025 exchanges.'] | 2,035,149 | 2026-02-26 | 10-K | View Document | 85% | ||
| Red Rock Resorts, Inc. | $19.40 | Step-up in basis of depreciable assets (Section 754), net operating losses, and other tax attributes | Certain owners who held LLC Units prior to the IPO, Fertitta Family Entities | 85% | liability under the TRA was $19.4 million; step-up in the basis of depreciable assets; 85% of the tax benefits realized; certain owners who held LLC Units; Fertitta Family Entities | [] | 1,653,653 | 2026-05-07 | 10-Q | View Document | 85% | ||
| RMR GROUP INC. | $18.48 | Increases in tax basis; imputed interest | RMR Inc., ABP Trust | 85.0% | liability related to the tax receivable agreement; increases in tax basis attributable to dealings; RMR Inc. pays to ABP Trust; 85.0% of the amount of cash savings | ['Liability includes $2.552 million current portion.'] | 1,644,378 | 2026-05-06 | 10-Q | View Document | 85.0% | ||
| NEWMARK GROUP, INC. | $17.51 | tax basis of tangible and intangible assets; tax benefits from TRA payments | Cantor | 85% | Payable related to Tax Receivable Agreement 17,511; tax basis of the tangible and intangible assets; Tax Receivable Agreement... entered into with Cantor; payment... of 85% of the amount of cash savings | ['Liability offset by $19.5 million deferred tax asset.'] | 1,690,680 | 2026-03-02 | 10-K | View Document | 85% | ||
| NEWMARK GROUP, INC. | $17.51 | tax basis of the tangible and intangible assets | Newmark, Cantor | 85% | liability to Cantor of $17.5 million; tax basis of the tangible and intangible assets; Tax Receivable Agreement with Cantor; 85% of the amount of cash savings | ['Offsetting related deferred tax asset of $19.5 million'] | 1,690,680 | 2026-05-08 | 10-Q | View Document | 85% | ||
| NEWMARK GROUP, INC. | $17.50 | Tax basis of tangible and intangible assets; tax benefits from TRA payments; imputed interest. | Cantor; Newmark Group, Inc. | 85% | a $17.5 million liability to Cantor; tax basis of the tangible and intangible assets; payment by us to Cantor of 85%; Cantor and Newmark entered into a tax receivable agreement | ['20% of each payment deposited into escrow account.'] | 1,690,680 | 2026-04-30 | 10-K/A | View Document | 85% | ||
| Amneal Pharmaceuticals, Inc. | $16.32 | realized tax benefits | Members | 75% | Total $16,323; realized tax benefits subject to the TRA; Members - tax receivable agreement; 75% of such realized benefits | ['TRA amended from 85% to 75%.', 'Unrecorded contingent TRA liability of $131.4 million.'] | 1,723,128 | 2026-05-07 | 10-Q | View Document | 75% | ||
| Definitive Healthcare Corp. | $13.00 | Tax basis adjustments, NOLs, basis in tangible and intangible assets, TRA payments | Pre-IPO LLC Unit holders, former Blocker Company shareholders | 85% | liability under the TRA of $13.0 million; pay to the TRA Parties 85%; tax basis adjustments; net operating losses; pre-IPO holders of LLC Units; accrue interest until paid | ['Liability decreased due to goodwill impairment remeasurement.'] | 1,861,795 | 2026-05-07 | 10-Q | View Document | 85% | ||
| Viant Technology Inc. | $12.50 | Tax basis step-ups, intangible assets, imputed interest | Viant Technology LLC, continuing members, TRA Representative | 85% | total TRA liability was $12.5 million; 85% of the net cash tax savings; increases in tax basis; intangible assets; imputed interest; continuing members of Viant Technology LLC | [] | 1,828,791 | 2026-05-11 | 10-Q | View Document | 85% | ||
| Viant Technology Inc. | $12.40 | Tax basis step-ups; intangible assets; imputed interest; net assets of Viant Technology LLC | Viant Technology LLC; continuing members of Viant Technology LLC; TRA Representative | 85% | total TRA liability is approximately $12.4 million; 85% of the amount of net cash tax savings; increases in tax basis; imputed interest; continuing members of Viant Technology LLC; TRA Representative | ['Liability recorded following release of valuation allowance.'] | 1,828,791 | 2026-03-11 | 10-K | View Document | 85% | ||
| P3 Health Partners Inc. | $12.40 | Tax basis increases in P3 LLC assets, imputed interest | P3 LLC, P3 Equityholders | 85% | TRA liability is estimated to be $12.4 million; increases in our share of the tax basis; P3 LLC and the P3 Equityholders; 85% of the income tax benefits | ['Liability not recorded due to full valuation allowance.'] | 1,832,511 | 2026-03-26 | 10-K | View Document | 85% | ||
| P3 Health Partners Inc. | $12.40 | Tax basis increases from redemptions/exchanges, TRA payments, and imputed interest | P3 LLC and the members of P3 LLC | 85% | estimated to be $12.4 million; increases in our share of the tax basis; tax basis increases attributable to payments; deductions attributable to imputed interest; P3 LLC and the members of P3 LLC; payment by us of 85% | ['Liability not recorded as payments are not probable.'] | 1,832,511 | 2026-05-14 | 10-Q | View Document | 85% | ||
| FORWARD AIR CORP | $10.58 | Increases in tax basis in Opco’s assets; pre-existing tax attributes; tax benefits from certain tax allocations; tax benefits attributable to TRA payments | Forward Air Corp; Clue Opco LLC; Omni Holders | 83.5% | Liabilities under tax receivable agreement $10,580; increases in tax basis in Opco’s assets; pre-existing tax attributes of certain Omni Holders; 83.5% of such tax benefits are payable | ['Liability remeasured from $13.3M to $10.6M in 2025.'] | 912,728 | 2026-03-11 | 10-K | View Document | 83.5% | ||
| Smith Douglas Homes Corp. | $9.86 | Basis Adjustments, Section 704(c) Allocations, and interest deductions | Smith Douglas Homes Corp., Smith Douglas Holdings LLC, Continuing Equity Owners | 85% | Tax receivable agreement liability 9,857; 85% of certain tax benefits; Basis Adjustments, Section 704(c) Allocations; interest deductions... arising from payments; Smith Douglas Holdings LLC and Continuing Equity Owners | ['TRA liability remeasured due to tax rate change.'] | 1,982,518 | 2026-03-12 | 10-K | View Document | 85% | ||
| Smith Douglas Homes Corp. | $9.40 | Basis Adjustments, Section 704(c) Allocations, interest deductions, 743(b) | Smith Douglas Homes Corp., Smith Douglas Holdings LLC, Continuing Equity Owners | 85% | TRA liability of $9.4 million; 85% of certain tax benefits; Basis Adjustments, Section 704(c) Allocations, interest deductions; Smith Douglas Homes Corp., Smith Douglas Holdings LLC; deferred and will accrue interest until paid | ['Quarterly payments under the TRA totaled $0.5 million.'] | 1,982,518 | 2026-04-30 | 10-Q | View Document | 85% | ||
| Silvercrest Asset Management Group Inc. | $9.33 | Increases in tax basis of tangible and intangible assets; tax benefits from TRA payments; exchanges of Class B for Class A shares. | Partners of SLP (SLP Partners), current principals, and future employee-holders of Class B units. | 85% | liability is estimated to be $9,333; increases in tax basis; tangible and intangible assets of SLP; pay the SLP Partners 85%; partners of SLP; exchanges of shares of Class B | [] | 1,549,966 | 2026-05-11 | 10-Q | View Document | 85% | ||
| Silvercrest Asset Management Group Inc. | $9.32 | Step-up in tax basis of tangible and intangible assets, prior distributions, and imputed interest. | Current principals and future employee-holders of Class B units of Silvercrest L.P. | 85% | liability is estimated to be $9,325; step-up in tax basis in Silvercrest L.P.’s assets; current principals of Silvercrest L.P.; 85% of the amount of cash savings | ['TRA terminates if partner is fired for cause.'] | 1,549,966 | 2026-03-16 | 10-K | View Document | 85% | ||
| Array Technologies, Inc. | $8.30 | increase in the tax value of developed technology | former majority shareholder, former owners | fair value of the TRA was $8.3 million; increase in the tax value of developed technology; former majority shareholder of the Company; payment to the former owners | ['TRA is accounted for as contingent consideration.'] | 1,820,721 | 2026-02-25 | 10-K | View Document | ||||
| Vistra Corp. | $7.00 | benefits realized as a result of certain transactions entered into at the emergence of our predecessor from reorganization under Chapter 11 | Vistra and TRA Rights holders | Tax Receivable Agreement obligations $7; benefits realized as a result of certain transactions; emergence of our predecessor from reorganization; receive payments from Vistra | ['Company repurchased TRA Rights in 2024 and 2023.'] | 1,692,819 | 2026-02-27 | 10-K | View Document | ||||
| Array Technologies, Inc. | $5.80 | deductions generated by increase in tax value of developed technology | Array Tech, Inc., former majority stockholder, former owners | fair value of the TRA was $5.8 million; increase in tax value of developed technology; former majority stockholder of Array Tech, Inc.; payment by Array Tech, Inc. to former owners | ['TRA is accounted for as contingent consideration.'] | 1,820,721 | 2026-05-06 | 10-Q | View Document | ||||
| Zeo Energy Corp. | $4.60 | increases in tax basis and certain other tax attributes | OpCo and certain OpCo members (TRA Holders) | 85% | estimated unrecorded TRA liability was approximately $4.6 million; increases in tax basis and certain tax attributes; OpCo and certain OpCo members; 85% of the net cash savings | ['Liability unrecorded as realization not more likely than not.'] | 1,865,506 | 2026-05-15 | 10-Q | View Document | 85% | ||
| Finance of America Companies Inc. | $4.52 | Blackstone Investor | TRA obligation; Blackstone Tax Receivable Agreement; Blackstone Investor; terminated | ['Blackstone TRA terminated by March 31, 2026.'] | 1,828,937 | 2026-05-11 | 10-Q | View Document | |||||
| Baldwin Insurance Group, Inc. | $4.50 | Tax basis in tangible and intangible assets; imputed interest | Baldwin Holdings’ LLC Members | 85% | liability of $4.5 million; tangible and intangible assets of Baldwin Holdings; Baldwin Holdings’ LLC Members; 85% of the amount of cash savings; imputed interest resulting from payments | ['Full valuation allowance recorded against deferred tax assets.'] | 1,781,755 | 2026-02-26 | 10-K | View Document | 85% | ||
| biote Corp. | $4.39 | Increases in tax basis of tangible and intangible assets; tax benefits attributable to TRA payments | Members; non-controlling interest holders | 85% | TRA liability 4,386; 85% of the net income tax savings; increases in tax basis of the BioTE Companies’ assets; tax benefits attributable to payments under the TRA; unpaid amounts will be deferred and will accrue interest | ['Legal settlements in 2024 reduced TRA liability significantly.'] | 1,819,253 | 2026-03-13 | 10-K | View Document | 85% | ||
| MARKETWISE, INC. | $4.30 | Tax basis adjustments from exchanges or distributions; carryforward attributes; depreciation and amortization deductions. | MarketWise, Inc., MarketWise Members, MarketWise, LLC | 85% | TRA liability was $4.3 million; increases in the tax basis of assets; MarketWise Members and MarketWise, LLC; equal to 85% of the tax benefits; unpaid amounts will be deferred and will accrue interest | ['No payments have been made under the TRA.'] | 1,805,651 | 2026-03-06 | 10-K | View Document | 85% | ||
| biote Corp. | $4.19 | tax basis in the net assets of Holdings; tax basis increases from TRA payments | then-existing non-controlling interest holders | 85% | TRA liability 4,190; tax basis in the net assets of Holdings; then-existing non-controlling interest holders; 85% of the amount of any tax benefits | ['No unit exchanges occurred during the period.'] | 1,819,253 | 2026-05-11 | 10-Q | View Document | 85% | ||
| MARKETWISE, INC. | $4.04 | Basis adjustments and other carryforward attributes | Certain shareholders; members of MarketWise, LLC | 85% | cumulative liability of $4,035; basis adjustments and other carryforward attributes; 85% of the calculated tax savings; unpaid amounts... will accrue interest until paid | ['Arnold Parties waived TRA rights in settlement.'] | 1,805,651 | 2026-05-07 | 10-Q | View Document | 85% | ||
| Finance of America Companies Inc. | $3.90 | Tax basis adjustments from sales, exchanges, and distributions; tax benefits from TRA payments; tangible and intangible assets. | Certain owners of FOA Equity; Blackstone Investor. | 85% | TRA obligation 3,901; 85% of the cash tax benefits; tax basis adjustments as a result of sales; certain owners of FOA Equity; Blackstone Tax Receivable Agreement was terminated | ['Blackstone TRA terminated Jan 2026.', 'TRA liability measured at fair value.'] | 1,828,937 | 2026-03-13 | 10-K | View Document | 85% | ||
| HMH Holding Inc | $3.80 | Acquisitions of B.V. Voting and Non-Voting Shares, redemptions or exchanges of B.V. Non-Voting Shares, and imputed interest | HMH B.V. and the Principal Stockholders | 85% | TRA liability in the amount of approximately $3.8 million; pay 85% of the net cash savings; HMH B.V. and the Principal Stockholders; acquisitions of B.V. Voting Shares; redemptions or exchanges of B.V. Non-Voting Shares; tax benefits related to imputed interest | ['Liability expected to be recorded in Q2 2026.'] | 2,021,880 | 2026-05-06 | 10-Q | View Document | 85% | ||
| INFINITY NATURAL RESOURCES, INC. | $3.60 | Tax basis increases from exchanges, imputed interest, and additional tax basis from TRA payments | Legacy Owners (owners of INR Holdings prior to the IPO) | 85% | TRA liability of $3.6 million; tax basis increases resulting from the exchange; owners of INR Holdings prior to the IPO; 85% of the net cash savings | Liability established following exchange of INR Units. | 2,029,118 | 2026-05-12 | 10-Q | View Document | 85% | ||
| WM TECHNOLOGY, INC. | $2.70 | increases to the tax basis of WMH LLC’s assets; tax benefits related to imputed interest; tax attributes resulting from payments made under the TRA | WMH LLC Class A equity holders and their representative | 85% | TRA liability was $2.7 million; increases to the tax basis; imputed interest; tax attributes resulting from payments; WMH LLC Class A equity holders; 85% of the amount of cash savings; accrue interest until paid | ['Full valuation allowance recorded; liability adjusted downward.'] | 1,779,474 | 2026-03-12 | 10-K | View Document | 85% | ||
| INFINITY NATURAL RESOURCES, INC. | $1.50 | Tax basis increases from exchanges, imputed interest, and additional tax basis from TRA payments. | Legacy Owners | 85% | recorded a TRA liability of $1.5 million; tax basis increases resulting from the exchange; Tax Receivable Agreement with the Legacy Owners; 85% of the net cash savings | ['Liability established in 2025 following unit redemption.'] | 2,029,118 | 2026-03-10 | 10-K | View Document | 85% | ||
| Camping World Holdings, Inc. | $1.40 | Increases in tax basis; Section 754; TRA payment benefits | Continuing Equity Owners; Crestview Partners II GP, L.P.; Former Profits Unit Holders; CWGS, LLC | 85% | remaining Tax Receivable Agreement liability of $1.4 million; increases in tax basis; 85% of the tax benefits; Continuing Equity Owners; accrue interest until paid | ['Liability reduced by $149M due to valuation allowance.'] | 1,669,779 | 2026-02-27 | 10-K | View Document | 85% | ||
| GoHealth, Inc. | $1.30 | Existing tax basis, increases in tax basis, distributions, and tax benefits from TRA payments | Continuing Equity Owners and the Blocker Shareholders | 85% | $1.3 million liability; 85% of the tax benefits; allocable share of existing tax basis; Continuing Equity Owners and the Blocker Shareholders | ['Liability arose from the Transactions', 'Payments accelerated upon change of control'] | 1,808,220 | 2026-03-31 | 10-K | View Document | 85% | ||
| GoHealth, Inc. | $1.30 | GHH, LLC, Continuing Equity Owners, Blocker Shareholders | 85% | $1.3 million liability related to the Tax Receivable Agreement; GHH, LLC, the Continuing Equity Owners; 85% of the amount of tax benefits | [] | 1,808,220 | 2026-05-18 | 10-Q | View Document | 85% | |||
| GEN Restaurant Group, Inc. | $1.10 | increases in tax basis from redemptions or exchanges; tax benefits from TRA payments | GEN Inc., Operating Company, Members | 85% | Tax receivable agreement liability 1,088; increases in tax basis from future redemptions; GEN Inc., Operating Company and each Members; 85% of the amount of tax benefits | ['Estimated total payments of $99.6 million through 2037.'] | 1,891,856 | 2026-05-14 | 10-Q | View Document | 85% | ||
| GEN Restaurant Group, Inc. | $1.10 | Increases in tax basis, net operating losses, and imputed interest | Members of GEN LLC (excluding GEN Inc.) | 85% | liability... of $1.1 million; increases in tax basis; net operating losses; members of GEN LLC; 85% of the net cash tax savings | ['Estimated aggregate payments of $99.6 million through 2037.'] | 1,891,856 | 2026-03-31 | 10-K | View Document | 85% | ||
| Bakkt, Inc. | $0.60 | Tangible and intangible assets of Opco; Section 743(b); Section 734(b); tax benefits from TRA payments | Certain Opco equity holders; ICE; Mr. Naheta | 85% | approximately $0.6 million remained to be paid; tangible and intangible assets of Opco; Section 743(b) or 734(b) of the Code; ICE and Mr. Naheta; 85% of certain net income tax benefits | ['TRA was settled as part of 2025 reorganization.'] | 1,820,302 | 2026-03-19 | 10-K | View Document | 85% | ||
| Bakkt, Inc. | $0.50 | Tangible and intangible assets; Section 754; 743(b); 734(b) | Certain Opco equity holders, ICE, Mr. Naheta | 85% | approximately $0.5 million remained to be paid; tangible and intangible assets of Opco; Section 743(b) or 734(b); 85% of certain net income tax benefits | ['The Reorganization terminated the TRA.'] | 1,820,302 | 2026-05-11 | 10-Q | View Document | 85% | ||
| Fluence Energy, Inc. | $0.30 | Increases in tax basis from redemptions, exchanges, and distributions; TRA payment tax benefits; certain tax attributes | Fluence Energy, Inc., Fluence Energy, LLC, Siemens Industry, Inc., AES Grid Stability, LLC | 85% | 85% of the tax benefits; Siemens Industry, Inc. and AES Grid Stability, LLC; increases in our share of the tax basis; estimated $0.3 million of Tax Receivable Agreement payment | ['Full valuation allowance; liability not recognized except $0.3M.'] | 1,868,941 | 2026-05-06 | 10-Q | View Document | 85% | ||
| Funko, Inc. | $0.25 | Redemptions or exchanges of common units; TRA payments | FAH, LLC, Continuing Equity Owners, and certain transferees | 85% | 85% of the amount of tax benefits; Continuing Equity Owners, and certain transferees; future redemptions funded by the Company or exchanges; Ending balance $249; gross outstanding balance... $102.5 million | ['Liability reduced due to full valuation allowance.'] | 1,704,711 | 2026-05-07 | 10-Q | View Document | 85% | ||
| RE/MAX Holdings, Inc. | $0.22 | RE/MAX Holdings, Inc., RIHI, Inc. | total liability under the TRAs is $0.2 million; RIHI, Inc. (“RIHI”); RIHI TRA will terminate upon the closing; Payable pursuant to tax receivable agreements | ['TRA terminates upon merger with no payments.'] | 1,581,091 | 2026-05-08 | 10-Q | View Document | |||||
| Funko, Inc. | $0.12 | Redemptions or exchanges of common units; TRA payments | FAH, LLC, Continuing Equity Owners, and certain transferees | 85% | TRA liability for... 2025... of $120 thousand; redemptions or exchanges of common units; Continuing Equity Owners and certain transferees; 85% of the tax benefits; gross outstanding balance... was $102.5 million | ['Liability reduced by valuation allowance; gross is $102.5M.'] | 1,704,711 | 2026-03-12 | 10-K | View Document | 85% | ||
| Direct Digital Holdings, Inc. | $0.04 | Tax basis in net assets; Section 754 basis increases | DDH LLC and DDM | 85% | less than $0.1 million; 85% of the net cash savings; DDH LLC and DDM; increase in its share of the tax basis | ['Liability is $41 thousand.'] | 1,880,613 | 2026-05-15 | 10-Q | View Document | 85% | ||
| Direct Digital Holdings, Inc. | $0.04 | Basis adjustments from unit exchanges and TRA payments; imputed interest | Direct Digital Holdings, DDH LLC, and DDM (Direct Digital Management, LLC) | 85% | 85% of the tax benefits; liability... of less than $0.1 million; increases in the tax basis of assets; Direct Digital Holdings, DDH LLC and DDM; deferred payments... will possibly accrue interest | ['Liability derecognized in 2024 due to valuation allowance.'] | 1,880,613 | 2026-03-31 | 10-K | View Document | 85% | ||
| Clearwater Analytics Holdings, Inc. | $0.00 | Tax Attributes | affiliates of the Prior Principal Equity Owners, CWAN Holdings, TRA Amendment Parties | 85% | 85% of certain tax benefits; settlement payments... approximately $72.5 million; no further payment obligations; Tax Attributes; affiliates of the Prior Principal Equity Owners | ['TRA terminated via settlement amendment in November 2024.'] | 1,866,368 | 2026-04-01 | 10-K/A | View Document | 85% | ||
| OneStream, Inc. | $0.00 | LLC Unit exchange basis adjustments, Blocker NOLs, imputed interest, TRA payment tax benefits | TRA Members (including KKR), Continuing Members, Former Members | 85% | no TRA liability has been recorded; 85% of the applicable savings; tax attributes... created as a result of... exchanges; TRA Members (including KKR); interest, at the rate provided for therein | ['TRA terminates automatically upon consummation of the Mergers.'] | 1,889,956 | 2026-02-26 | 10-K | View Document | 85% | ||
| Zevia PBC | $0.00 | Net operating losses, existing tax basis, basis step-ups, imputed interest | Continuing members of Zevia LLC, Direct Zevia Stockholders | 85% | Secured Overnight Financing Rate plus 300 basis points | Pro rata | 85% of the net cash tax savings; Secured Overnight Financing Rate plus 300 basis points; pro rata based on their relative percentage ownership; net operating losses and... existing tax basis; continuing members of Zevia LLC; Direct Zevia Stockholders | ['No liability recorded due to valuation allowance.', 'Potential liability if fully realized is $58.9 million.'] | 1,854,139 | 2026-02-25 | 10-K | View Document | 85% |
| Greenlane Holdings, Inc. | $0.00 | increases in tax basis and certain other tax benefits | certain former holders of interests in the Operating Company | 85% | recorded no liability under the TRA; increases in tax basis; certain former holders of interests; 85% of certain tax benefits | ['No liability recorded due to valuation allowance.'] | 1,743,745 | 2026-05-15 | 10-Q | View Document | 85% | ||
| Bioventus Inc. | $0.00 | Tax basis increases from redemptions, exchanges, prior sales, distributions, and TRA payment benefits | Continuing LLC Owner | 85% | Company had not recorded any liabilities; 85% of the amount of tax benefits; increases in the tax basis of assets; Continuing LLC Owner; accrue interest until paid | ['No liabilities recorded as no exchanges occurred.'] | 1,665,988 | 2026-05-06 | 10-Q | View Document | 85% | ||
| Rani Therapeutics Holdings, Inc. | $0.00 | increases in the tax basis of assets; payments under the TRA; other benefits from TRA payments | Continuing LLC Owners; ICL | 85% | not recorded a liability under the TRA; increases in the tax basis of assets; Continuing LLC Owners; 85% of the amount of tax benefits; terminated the TRA... effective as of December 31, 2025 | ['TRA terminated effective December 31, 2025.'] | 1,856,725 | 2026-03-26 | 10-K | View Document | 85% | ||
| NUSCALE POWER Corp | $0.00 | Tax basis of tangible and intangible assets | NuScale Corp, NuScale LLC, TRA Holders, Fluor, Legacy NuScale Equityholders | 85% | no liability... has been recorded; 85% of certain tax benefits; increases in tax basis; tangible and intangible assets of NuScale LLC; Fluor, in its capacity as TRA Representative; reduce tax payments due to Fluor by 50% | ['No liability recorded; implied obligation is $582.7M.'] | 1,822,966 | 2026-02-26 | 10-K | View Document | 85% | ||
| Intuitive Machines, Inc. | $0.00 | Existing Basis, Basis Adjustments, Interest Deductions, and Business Combination benefits | Intuitive Machines, LLC and certain Intuitive Machines Members (TRA Holders) | 85% | SOFR plus 100 basis points | 85% of the amount of cash tax savings; Existing Basis, Basis Adjustments and Interest Deductions; SOFR plus 100 basis points; The TRA is unrecognized; Intuitive Machines, LLC and certain Intuitive Machines Members | ['Full valuation allowance applied; TRA liability is unrecognized.'] | 1,844,452 | 2026-03-19 | 10-K | View Document | 85% | |
| FuboTV Inc. | $0.00 | Historic NOLs, tax basis adjustments from redemptions/exchanges, Newco distributions, TRA payments, and imputed interest. | FuboTV Inc. (the Company), Newco, Hulu | 70% | no TRA liability has been recorded; historic net operating loss carryforwards; increases in tax basis; Company, Newco and Hulu; 70% of the total tax benefit | ['TRA share is 70%.'] | 1,484,769 | 2026-05-06 | 10-Q | View Document | 70% | ||
| indie Semiconductor, Inc. | $0.00 | basis adjustments on future exchanges of ADK, LLC units and other carryforward attributes assumed | certain shareholders | 85% | not recorded a liability under the TRAs; basis adjustments on future exchanges; other carryforward attributes assumed; certain shareholders; 85% of the calculated tax savings | ['Full valuation allowance prevents recording TRA liability.'] | 1,841,925 | 2026-05-11 | 10-Q | View Document | 85% | ||
| Andersen Group Inc. | $0.00 | Increase in tax basis in assets of AT Umbrella LLC and subsidiaries; tax benefits from TRA payments | Aggregator; certain holders of Class X Umbrella Units; pre-IPO owners | 85% | 85% of the amount of tax benefits; increase in tax basis in the assets; not yet incurred a liability; certain holders of Class X Umbrella Units; unpaid amounts will accrue interest until paid | ['Company has not yet incurred a TRA liability.'] | 2,065,708 | 2026-05-12 | 10-Q | View Document | 85% | ||
| Cibus, Inc. | $0.00 | no TRA liability has been recorded; TRA, dated May 31, 2023; liability... is not probable | ['Liability not probable due to full valuation allowance.'] | 1,705,843 | 2026-05-14 | 10-Q | View Document | ||||||
| TWFG, Inc. | $0.00 | Increase in tax basis in TWFG Holding’s assets; imputed interest | Pre-IPO LLC Members; other holders of LLC Units | 85% | no amounts were payable under the Tax Receivable Agreement; increase in tax basis in TWFG Holding’s assets; pay the other holders of LLC Units 85%; Pre-IPO LLC Members | [] | 2,007,596 | 2026-03-10 | 10-K | View Document | 85% | ||
| Camping World Holdings, Inc. | $0.00 | Tax basis increases from unit purchases and redemptions; Section 754 election | Continuing Equity Owners and Crestview Partners II GP, L.P. | 85% | did not have a Tax Receivable Agreement liability; increases in the tax basis; Section 754; Continuing Equity Owners; Crestview Partners II GP, L.P.; 85% of the amount of tax benefits | ['Liability not probable due to full valuation allowance.'] | 1,669,779 | 2026-04-30 | 10-Q | View Document | 85% | ||
| EVgo Inc. | $0.00 | increases in tax basis, imputed interest, additional tax basis | EVgo Holdings, LS Power Equity Advisors, LLC, CRIS, Thunder Sub | 85% | no amounts have been accrued; potential unrecorded tax liability... $33.8 million; 85% of the net cash savings; increases in tax basis... Redemption Right; imputed interest deemed to be paid; EVgo Holdings... LS Power Equity Advisors, LLC | ['Liability not recorded due to valuation allowance.'] | 1,821,159 | 2026-05-05 | 10-Q | View Document | 85% | ||
| Andersen Group Inc. | $0.00 | Increase in tax basis; tax benefits from payments; imputed interest | Aggregator; holders of Class X Umbrella Units; LTIP Unit holders | 85% | not yet incurred a liability; increase in tax basis; tax benefits attributable to payments; interest deductions imputed; Aggregator; holders of Class X Umbrella Units; 85% of the tax benefits; will accrue interest until paid | [] | 2,065,708 | 2026-03-27 | 10-K | View Document | 85% | ||
| Intuitive Machines, Inc. | $0.00 | Existing tax basis in certain assets; tax basis adjustments from taxable exchanges; tax benefits from Business Combination; tax deductions from TRA payments. | TRA Holders (certain Intuitive Machines, LLC members and related parties to the Company) | 85% | does not expect a TRA liability; 85% of the amount of cash tax savings; existing tax basis in certain assets; TRA Holders (certain Intuitive Machines, LLC members) | ['Full valuation allowance applied to deferred tax assets.'] | 1,844,452 | 2026-05-15 | 10-Q | View Document | 85% | ||
| FLYEXCLUSIVE INC. | $0.00 | tax basis adjustments | Thomas James Segrave Jr., LG Trust, ML Trust, LM Trust, TJ Trust, Existing Equityholders | 85% | no TRA liability has been recorded; certain tax basis adjustments; 85% of the Realized Tax Benefit; Thomas James Segrave Jr.; Existing Equityholders | ['No liability recorded as benefit utilization not probable.'] | 1,843,973 | 2026-05-11 | 10-Q | View Document | 85% | ||
| Verde Clean Fuels, Inc. | $0.00 | Increases in tax basis from OpCo Units acquisition; imputed interest; additional tax basis from TRA payments | Holdings, TRA Holders, and the Agent | 85% | did not record a tax receivable liability; increases in tax basis; imputed interest; additional tax basis arising from... payments; pay each TRA Holder 85%; Holdings... TRA Holders... and the Agent | ['Payment cap of $50,000 for change of control.'] | 1,841,425 | 2026-05-12 | 10-Q | View Document | 85% | ||
| Purple Innovation, Inc. | $0.00 | tax basis increases in Purple LLC assets, imputed interest | former founders, InnoHold | 80% | no liability was recorded; 80% of the net cash savings; tax basis increases in the assets; imputed interest; former founders; InnoHold | ['No liability recorded as not probable.', 'Estimated $137.5M lump-sum upon change of control.'] | 1,643,953 | 2026-03-31 | 10-K | View Document | 80% | ||
| PROKIDNEY CORP. | $0.00 | Increases in tax basis from unit exchanges, other tax attributes of PK Holdings | Closing ProKidney Unitholders | 85% | not recognized any liability... as of March 31, 2026; 85% of the amount of cash savings; increases in tax basis attributable to exchanges; Closing ProKidney Unitholders | ['No liability recognized as of March 31, 2026.'] | 1,850,270 | 2026-05-15 | 10-Q | View Document | 85% | ||
| Brilliant Earth Group, Inc. | $0.00 | Tax basis adjustments, Section 743(b), Section 197, TRA payments | Brilliant Earth Group, Inc., Brilliant Earth, LLC, Continuing Equity Owners | 85% | reduced the TRA liability to zero; increases in... tax basis of... assets; Brilliant Earth, LLC and the Continuing Equity Owners; 85% of the amount of tax benefits; unpaid amounts... will accrue interest until paid | ['Liability reduced to zero due to valuation allowance.'] | 1,866,757 | 2026-03-17 | 10-K | View Document | 85% | ||
| Vivid Seats Inc. | $0.00 | increases in the tax basis; existing tax basis; imputed interest | existing Hoya Intermediate unitholders; Hoya Topco | 85% | we will no longer have a TRA liability; increases in the tax basis; existing tax basis; imputed interest; existing Hoya Intermediate unitholders; 85% of the amount of any tax savings | ['TRA terminated October 2025 via Corporate Simplification.'] | 1,856,031 | 2026-03-12 | 10-K | View Document | 85% | ||
| Vivid Seats Inc. | $0.00 | Increases in tax basis; existing tax basis in long-lived assets; imputed interest | Existing Hoya Intermediate unitholders; Hoya Topco, LLC | 85% | we no longer have a TRA liability; payment to such unitholders of 85%; increases in the tax basis of assets; existing tax basis in long-lived assets; deductions in respect of imputed interest; existing Hoya Intermediate unitholders; Hoya Topco, LLC | ['TRA terminated Oct 2025 via Corporate Simplification Agreement.'] | 1,856,031 | 2026-05-05 | 10-Q | View Document | 85% | ||
| Greenlane Holdings, Inc. | $0.00 | Increases in tax basis from redemptions or exchanges; tax benefits from TRA payments | Members of the Operating Company | 85% | recorded no liability under the TRA; increases in the tax basis of assets; members of the Operating Company; 85% of the tax benefits | ['No liability recorded due to valuation allowance.'] | 1,743,745 | 2026-03-31 | 10-K | View Document | 85% | ||
| vTv Therapeutics Inc. | $0.00 | Tax basis increases from exchanges, imputed interest, and TRA payment tax benefits | vTv Therapeutics Inc., M&F TTP Holdings Two LLC, M&F TTP Holdings LLC, MacAndrews | 85% | not recognized any liability; increases in the tax basis; 85% of the amount of cash savings; imputed interest; accrue interest until paid | No liability recognized as of December 31, 2025. | 1,641,489 | 2026-03-10 | 10-K | View Document | 85% | ||
| NET Power Inc. | $0.00 | deferred tax assets | agent of the TRA holders, TRA holders | reduced the TRA liability to zero; intent to terminate the TRA; became final and binding on June 12, 2025; deferred tax assets subject to the TRA | ['TRA terminated effective June 12, 2025.'] | 1,845,437 | 2026-05-11 | 10-Q | View Document | ||||
| vTv Therapeutics Inc. | $0.00 | exchange of Class B common stock and vTv Units; imputed interest; tax benefits attributable to TRA payments | MacAndrews, M&F TTP Holdings Two LLC, M&F TTP Holdings LLC | 85% | not recognized any liability; 85% of the amount of cash savings; exchange of Class B common stock; imputed interest deemed to be paid; tax benefits attributable to payments | No liability recognized as of March 31, 2026. | 1,641,489 | 2026-05-13 | 10-Q | View Document | 85% | ||
| Zeo Energy Corp. | $0.00 | Increases in tax basis from OpCo Exchange Rights, Mandatory Exchange, and imputed interest. | TRA Holders (certain OpCo members and former Sunergy equity holders). | 85% | 85% of the net cash savings; increases in tax basis; imputed interest; not recorded a liability; estimated unrecorded TRA liability was approximately $5.7 million | ['Liability not recorded; realization not more likely than not.'] | 1,865,506 | 2026-04-01 | 10-K | View Document | 85% | ||
| Bitcoin Depot Inc. | $0.00 | Existing tax basis; tax basis adjustments; imputed interest | Bitcoin Depot Inc., BT HoldCo, BT Assets, former stockholders of BT Assets | 85% | no Tax Receivable Agreement liability; pay BT Assets 85% of the amount; existing tax basis in certain assets; former stockholders of BT Assets | ['TRA terminated May 2025 for $8.4 million payment.'] | 1,901,799 | 2026-03-18 | 10-K | View Document | 85% | ||
| PROKIDNEY CORP. | $0.00 | Increases in tax basis from exchanges, depreciation and amortization deductions, other tax attributes of PK Holdings | Closing ProKidney Unitholders | 85% | not recognized any liability; increases in tax basis; 85% of certain tax savings; Closing ProKidney Unitholders | ['No liability recognized as of December 31, 2025.'] | 1,850,270 | 2026-03-18 | 10-K | View Document | 85% | ||
| Cibus, Inc. | $0.00 | no TRA liability existed; TRA liability is not probable | ['Liability not probable due to valuation allowance'] | 1,705,843 | 2026-03-17 | 10-K | View Document | ||||||
| Solo Brands, Inc. | $0.00 | no liability has been recorded; due to its immateriality; impact of valuation allowances | ['No liability recorded due to immateriality.'] | 1,870,600 | 2026-05-14 | 10-Q | View Document | ||||||
| El Pollo Loco Holdings, Inc. | $0.00 | net operating losses and other tax attributes | pre-IPO stockholders, FS Equity Partners V, L.P., FS Affiliates V, L.P. | 85% | no remaining obligations owed; net operating losses and other tax attributes; pre-IPO stockholders; 85% of the savings in cash; FS Equity Partners V, L.P.; FS Affiliates V, L.P. | ['TRA obligations terminated on May 29, 2024.'] | 1,606,366 | 2026-03-13 | 10-K | View Document | 85% | ||
| MARAVAI LIFESCIENCES HOLDINGS, INC. | $0.00 | Increases in tax basis of assets; tax attributes of acquired entities; tax benefits from TRA payments | MLSH 1, MLSH 2, GTCR | 85% | no current liability under the TRA; 85% of the amount of certain tax benefits; MLSH 1 and MLSH 2; increases in the tax basis of assets; tax attributes of the entities acquired | ['Liability derecognized as realization not probable.'] | 1,823,239 | 2026-05-08 | 10-Q | View Document | 85% | ||
| WM TECHNOLOGY, INC. | $0.00 | Additional tax basis from redemptions or exchanges of Units | Continuing Class A Unit holders | 85% | TRA liability was nil; additional tax basis; continuing Class A Unit holders; 85% of the amount of tax benefits | ['Liability nil due to full valuation allowance.'] | 1,779,474 | 2026-05-11 | 10-Q | View Document | 85% | ||
| EVgo Inc. | $0.00 | increases in tax basis; imputed interest | EVgo Holdings; LS Power Equity Advisors, LLC; CRIS; Thunder Sub | 85% | one-year LIBOR plus 100 basis points | Pro rata | no amounts have been accrued; 85% of the net cash savings; increases in tax basis; imputed interest; one-year LIBOR plus 100 basis points; EVgo OpCo to make pro rata cash distributions | ['Liability not accrued as not deemed probable.'] | 1,821,159 | 2026-03-09 | 10-K | View Document | 85% |
| NET Power Inc. | $0.00 | existing tax basis of certain assets; tax basis adjustments; taxable exchanges of Class A OpCo Units; tax deductions in respect of TRA payments | certain OpCo unitholders; agent of the TRA holders | 75% | reduced the TRA liability... to zero; pay approximately 75% of the calculated tax savings; existing tax basis of certain assets; tax basis adjustments from taxable exchanges; terminated and of no further force or effect | ['TRA terminated and liability reduced to zero in 2025.'] | 1,845,437 | 2026-03-09 | 10-K | View Document | 75% | ||
| Bumble Inc. | $0.00 | exchanges of Common Units | Founder, Sponsor, affiliate of Accel Partners LP, management | fully settled in November 2025; complete and full termination; pre-IPO owners including our Founder, our Sponsor; exchanges of Common Units | ['TRA was fully settled and terminated in November 2025.'] | 1,830,043 | 2026-05-06 | 10-Q | View Document | ||||
| Nerdy Inc. | $0.00 | Basis increases (recapitalization, redemptions, calls), imputed interest, additional basis | Nerdy LLC unit holders (TRA Holders), Legacy Nerdy Holders | 85% | not recognized a liability of $118,238; 85% of the net cash savings; certain increases in tax basis; imputed interest deemed to be paid; Nerdy LLC unit holders; Legacy Nerdy Holders; payments will accrue interest until paid | ['Liability not recognized; potential obligation is $118.2 million.'] | 1,819,404 | 2026-02-26 | 10-K | View Document | 85% | ||
| Xponential Fitness, Inc. | $0.00 | Net operating losses, existing tax basis, tax basis adjustments, imputed interest | H&W Investco Blocker II, LP, Continuing Pre-IPO LLC Members | 85% | LIBOR (or a replacement rate) + 100bp | $116,527 of the TRA liability was not recorded; net operating losses; existing tax basis; tax basis adjustments; imputed interest; H&W Investco Blocker II, LP; Continuing Pre-IPO LLC Members; aggregate 85% of the amount of cash savings; LIBOR plus 100 basis points | ['Liability not recorded due to valuation allowance.'] | 1,802,156 | 2026-05-08 | 10-Q | View Document | 85% | |
| Verde Clean Fuels, Inc. | $0.00 | Increases in tax basis from OpCo Unit exchanges; imputed interest; additional tax basis from TRA payments | Holdings, permitted transferees, the Agent | 85% | SOFR + 150 basis points | did not record a tax receivable liability; certain increases in tax basis; imputed interest deemed to be paid; Holdings (together with its permitted transferees); pay each TRA Holder 85%; SOFR plus 150 basis points | ['Payment cap of $50 million for change of control.'] | 1,841,425 | 2026-03-27 | 10-K | View Document | 85% | |
| Bumble Inc. | $0.00 | Existing tax basis, Common Basis, Blocker tax attributes, basis adjustments | Blackstone, the Founder, and certain pre-IPO owners | 85% | liability decreased to nil as of December 2025; allocable share of existing tax basis; Common Basis; Blackstone, the Founder and certain pre-IPO owners; 85% of the benefits | ['TRA fully terminated via $185.7M buyout in 2025.'] | 1,830,043 | 2026-03-16 | 10-K | View Document | 85% | ||
| Xponential Fitness, Inc. | $0.00 | Net operating losses, existing tax basis, tax basis adjustments, and imputed interest. | Continuing Pre-IPO LLC Members, owners of the Blocker Companies. | 85% | LIBOR + 100bp | 85% of the amount of cash savings; LIBOR plus 100 basis points; net operating losses and existing tax basis; Continuing Pre-IPO LLC Members; TRA liability was not recorded | ['Liability not recorded due to full valuation allowance.'] | 1,802,156 | 2026-03-04 | 10-K | View Document | 85% | |
| AST SpaceMobile, Inc. | $0.00 | Existing tax basis; tax basis adjustments; tax deductions; tax attributes | TRA holders; AST LLC | 85% | no TRA liabilities recorded; 85% of the amount of savings; existing tax basis of certain assets; tax basis adjustments resulting from taxable exchanges; tax deductions in respect of portions of payments; tax attributes acquired pursuant to reorganization transaction | ['Full valuation allowance recorded against deferred tax assets.'] | 1,780,312 | 2026-05-11 | 10-Q | View Document | 85% | ||
| System1, Inc. | $0.00 | increases in tax basis from redemptions or exchanges; tax basis increases from TRA payments; deductions from imputed interest | certain of the then-existing members of System1 Holdings | 85% | reduced our TRA liability... to zero; increases in our share of the tax basis; tax basis increases attributable to payments; deductions attributable to imputed interest; certain of the then-existing members; payment by us of 85% | ['TRA liability reduced to zero in 2025.'] | 1,805,833 | 2026-03-11 | 10-K | View Document | 85% | ||
| Bioventus Inc. | $0.00 | Increases in tax basis of BV LLC assets; tax benefits from TRA payments | Smith & Nephew, Inc. (Continuing LLC Owner) | 85% | had not recorded any liabilities under the TRA; increases in the tax basis of assets; Smith & Nephew, Inc. ('Continuing LLC Owner'); 85% of the tax benefits; deferred and will accrue interest until paid | ['No liability recorded as no LLC interests exchanged.'] | 1,665,988 | 2026-03-05 | 10-K | View Document | 85% | ||
| MARAVAI LIFESCIENCES HOLDINGS, INC. | $0.00 | Tax basis increases, Organizational Transaction tax attributes, NOLs, imputed interest deductions | MLSH 1, MLSH 2 | 85% | SOFR + 500 basis points | 85% of the tax benefits; MLSH 1 and MLSH 2; SOFR... plus 500 basis points; no liabilities under the TRA; increases in the tax basis | ['Liability derecognized in 2023; potential liability $706.2 million.'] | 1,823,239 | 2026-02-26 | 10-K | View Document | 85% | |
| Symbotic Inc. | $0.00 | attributes obtained as a result of exchanges | certain Legacy Warehouse Holders (the “TRA Holders”) | 85% | no TRA liability was recorded; 85% of these potential future tax benefits; certain Legacy Warehouse Holders; attributes obtained as a result of exchanges | ['No liability recorded; expected future payments $484.4 million.'] | 1,837,240 | 2026-05-06 | 10-Q | View Document | 85% | ||
| Sky Harbour Group Corp | $0.00 | Existing tax basis; tax basis adjustments from taxable exchanges; tax deductions from TRA payments | Sky Harbour Group Corp, Sky Harbour LLC, Existing Sky Equityholders, Tal Keinan (TRA Holder Representative) | 85% | no transactions... trigger the recording of a liability; pay the TRA Holders 85% of savings; existing tax basis in certain assets; tax basis adjustments from taxable exchanges; Company, Sky, Existing Sky Equityholders, Tal Keinan | ['No liability recorded as of December 31, 2025.'] | 1,823,587 | 2026-03-19 | 10-K | View Document | 85% | ||
| Greenlane Holdings, Inc. | $0.00 | increases in tax basis and certain other tax attributes | Greenlane Holdings, LLC and certain of its former members | 85% | had not recorded a liability under the TRA; increases in tax basis; certain other tax attributes; Greenlane Holdings, LLC; certain of its former members; payment by the Company of 85% | ['No liability recorded due to valuation allowance assessment.'] | 1,743,745 | 2026-04-30 | 10-K/A | View Document | 85% | ||
| Brilliant Earth Group, Inc. | $0.00 | aggregate historical tax basis; Sections 743(b) and 197 | Brilliant Earth Group, Inc.; Continuing Equity Owners | 85% | no TRA liability reflected; certain tax basis adjustments; Sections 743(b) and 197; Continuing Equity Owners; 85% of the amount of tax benefits | ['Liability not probable due to valuation allowance.'] | 1,866,757 | 2026-05-07 | 10-Q | View Document | 85% | ||
| RE/MAX Holdings, Inc. | step-up in tax basis on RMCO’s assets | RIHI, RMCO’s other pre-IPO owner | 85% | pay the counterparties 85% of the amount; step-up in tax basis on RMCO’s assets; RIHI and RMCO’s other pre-IPO owner; unpaid amounts will be deferred and accrue interest | ['Payments made in Feb 2025 and Jan 2026.'] | 1,581,091 | 2026-04-30 | 10-K/A | View Document | 85% | |||
| Blackstone Inc. | [] | 1,393,818 | 2026-02-27 | 10-K | View Document | ||||||||
| Falcon's Beyond Global, Inc. | Increases in tax basis from exchanges; tax benefits from TRA payments | Exchange TRA Holders; the Company; Falcon’s Opco; TRA holder representative | 85% | 85% of the amount of tax benefits; increases in tax basis resulting from any exchange; partners of Falcon’s Opco; TRA holder representative | ['Maintains full valuation allowance on deferred tax assets.'] | 1,937,987 | 2026-05-14 | 10-Q | View Document | 85% | |||
| Repay Holdings Corp | Increases in tax basis of Hawk Parent assets; other tax attributes; tax benefits from TRA payments. | Exchanging Repay Unitholders (including John Morris, Shaler Alias, and Tim Murphy). | 100% | Term SOFR plus 571.513 basis points | 100% of the tax benefits; Term SOFR plus 571.513 basis points; increases to the tax basis; other tax attributes of Hawk Parent; John Morris, Shaler Alias, Tim Murphy | ['TRA share is 100% of realized tax benefits.'] | 1,720,592 | 2026-04-30 | 10-K/A | View Document | 100% | ||
| York Space Systems Inc. | NOLs, R&D credits, 163(j) interest, 174 expenditures, refunds, asset amortization/depreciation, IPO transaction expenses, option costs, management fee terminations, employment taxes | Holdings equity holders, Class P Unit holders, AE Industrial Partners, BlackRock | 85% | SOFR + 500 basis points | Pro rata | 85% of certain tax savings; net operating losses, R&D credits, 163(j); equity holders of Holdings and Class P Units; SOFR plus 500 basis points; allocated pro rata according to shares held | ['Liability not recorded as realization is currently uncertain.', 'Early termination liability estimated at $262 million.'] | 2,086,587 | 2026-03-20 | 10-K | View Document | 85% | |
| Evercore Inc. | Payments Under Tax Receivable Agreement | ['Text contains cash flow data only.'] | 1,360,901 | 2026-05-06 | 10-Q | View Document | |||||||
| Falcon's Beyond Global, Inc. | Increases in tax basis of Falcon’s Opco assets from redemptions or exchanges; tax benefits from TRA payments. | Falcon’s Beyond Global, Inc., Falcon’s Opco, TRA holder representative, Exchange TRA Holders, unitholders. | 85% | 85% of the tax benefits; increases in the tax basis of assets; Company, Falcon’s Opco, the TRA holder representative; unpaid amounts will be deferred and accrue interest | ['Amendment on Oct 24, 2024, regarding unit transfers.'] | 1,937,987 | 2026-03-30 | 10-K | View Document | 85% | |||
| OLAPLEX HOLDINGS, INC. | Tax basis in intangible assets and capitalized transaction costs | Pre-IPO unitholders of Penelope Group Holdings, holders of equity awards of Penelope Holdings Corp., Advent Funds, Penelope Group Holdings GP, LLC | 85% | 85% of the amount of cash savings; tax basis in intangible assets; capitalized transaction costs; pre-IPO unitholders of Penelope Group Holdings; payment to the Pre-IPO Stockholders of $12.1 million | ['TRA terminates upon merger; major parties waived rights.'] | 1,868,726 | 2026-04-30 | 10-K/A | View Document | 85% | |||
| Liberty Broadband Corp | tax benefits realized by GCI Liberty | Liberty Broadband, Charter, GCI Liberty | tax benefits realized by GCI Liberty; Liberty Broadband (and Charter...); GCI Liberty; exceeded $420 million | ['TRA triggered if tax liability exceeds $420 million.'] | 1,611,983 | 2026-04-28 | 10-Q | View Document | |||||
| FLYEXCLUSIVE INC. | tax basis adjustments from repurchases and exchanges of LGM Common Units; tax deductions from TRA payments | flyExclusive, LGM, Thomas James Segrave Jr., LG Trust, ML Trust, LM Trust, TJ Trust, TRA Holder Representative | 85% | pay the Existing Equityholders 85% of the amount; tax basis adjustments resulting from the repurchase; taxable exchanges of LGM Common Units; maximum amount payable... approximately $6.1 million | ['Early termination payment estimated at $6.1 million.'] | 1,843,973 | 2026-03-05 | 10-K | View Document | 85% | |||
| AST SpaceMobile, Inc. | Existing tax basis; tax basis adjustments; tax deductions from TRA payments; Blocker Corporation tax attributes | AST SpaceMobile, Inc., AST LLC, TRA Holders, Thomas Severson | 85% | pay the TRA Holders 85% of the amount; existing tax basis in certain assets; tax basis adjustments resulting from taxable exchanges; tax deductions in respect of portions of certain payments; certain tax attributes of Blocker Corporations; Company, AST LLC, the TRA Holders | ['TRA liability amount not specified in provided text.'] | 1,780,312 | 2026-03-02 | 10-K | View Document | 85% | |||
| Solo Brands, Inc. | Tax basis increases from redemptions, imputed interest | TRA Participants, Prior Continuing LLC Owners | 85% | 85% of the tax benefits; increases in... tax basis of the assets; TRA Participants; unpaid amounts... will accrue interest; no payments due under the Tax Receivable Agreement | ['Liability not expected to be material.'] | 1,870,600 | 2026-03-23 | 10-K | View Document | 85% | |||
| indie Semiconductor, Inc. | Tangible and intangible assets of ADK LLC; ADK Blocker Group tax attributes | Certain indie Equity Holders; certain members of ADK LLC | 85% | 85% of the tax benefits; tangible and intangible assets of ADK LLC; certain tax attributes of the ADK Blocker Group; certain indie Equity Holders; certain members of ADK LLC | [] | 1,841,925 | 2026-02-27 | 10-K | View Document | 85% | |||
| Ares Management Corp | Reference Assets; Basis Adjustment | TRA Holders; Parent; Partnerships; AOH | 85% | Pro rata | 85% of the sum of the Net Tax Benefit; tax basis in the applicable Reference Assets; made... to each TRA Holder on a pro rata basis; TRA Holders, Parent, Partnerships, AOH | [] | 1,176,948 | 2026-02-25 | 10-K | View Document | 85% | ||
| Rocket Companies, Inc. | increases in tax basis and other tax benefits | RHI, RHI II, Daniel Gilbert | 90% | payment by the Company of 90%; certain increases in tax basis; other tax benefits; RHI II and Mr. Gilbert | ['TRA amended June 30, 2025 following Up-C collapse.', 'TRA share is 90% of cash savings.'] | 1,805,284 | 2026-05-12 | 10-Q | View Document | 90% | |||
| UWM Holdings Corp | Tax basis from Exchange Transactions, imputed interest, disproportionate allocations | SFS Corp. | 85% | 85% of the amount of cash savings; with SFS Corp.; increases in tax basis resulting from Exchange Transactions; increase in the TRA liability... $50.1 million | ['TRA liability recorded as a loss contingency.'] | 1,783,398 | 2026-05-11 | 10-Q | View Document | 85% | |||
| Forgent Power Solutions, Inc. | Allocable share of tax basis, NOLs, existing tax basis, basis adjustments, imputed interest | Forgent Parent I LP, Forgent Parent II LP, Forgent Parent III LP, Forgent Parent IV LP | 85% | 85% of the amount of tax savings; Forgent Parent I LP, Forgent Parent II LP; allocable share of tax basis; net operating losses; imputed interest arising from any payments | ['TRA entered with Continuing Equity Owners in 2026.'] | 2,080,126 | 2026-03-16 | 10-Q | View Document | 85% | |||
| GRAFTECH INTERNATIONAL LTD | tax assets that have been utilized | sole pre-IPO stockholder | sole pre-IPO stockholder; tax assets that have been utilized; established a full valuation allowance | ['Full valuation allowance established in Q2 2025.'] | 931,148 | 2026-05-01 | 10-Q | View Document | |||||
| BRC Inc. | Existing tax basis; basis increases from redemptions/exchanges; pre-existing tax attributes of Blocker Corp; TRA payment tax benefits | Unitholders of Authentic Brands, LLC; certain shareholders | 85% | 85% of the tax benefits; Unitholders of Authentic Brands, LLC; increases in tax basis; pre-existing tax attributes of the Blocker Corp; record the TRA liability when it is probable | ['Liability recorded when probable and estimable.'] | 1,891,101 | 2026-03-02 | 10-K | View Document | 85% | |||
| Concord Acquisition Corp II | Events.com’s pre-closing tax attributes | Events.com, the Company, certain Events.com shareholders, New CND | 85% | 85% of the tax benefits realized; Events.com’s pre-closing tax attributes; Events.com, the Company and certain Events.com shareholders | ['TRA triggered by change of control or divestiture.'] | 1,851,959 | 2026-05-14 | 10-Q | View Document | 85% | |||
| Finance of America Companies Inc. | Corporation, stockholders, BL Investors, Blackstone Investors, Members | Tax Receivable Agreements; among the Corporation and the stockholders; BL Investors; Blackstone Investors; Members | [] | 1,828,937 | 2026-03-13 | 10-K | View Document | ||||||
| INFINITY NATURAL RESOURCES, INC. | holders of INR Units | holders of INR Units; accelerating the payment due under our TRA | ['Change of control events accelerate TRA payments'] | 2,029,118 | 2026-03-10 | 10-K | View Document | ||||||
| York Space Systems Inc. | net operating loss carryforwards, research and development credit carryforwards | equity holders of Holdings, holders of Class P Units | 85% | SOFR + 100bp | does not anticipate recording the TRA liability; net operating loss carryforwards; research and development credit carryforwards; equity holders of Holdings; holders of Class P Units; 85% of certain tax savings; 100 basis points above SOFR | ['TRA liability not recorded as realization is not probable.'] | 2,086,587 | 2026-05-15 | 10-Q | View Document | 85% | ||
| Clearwater Analytics Holdings, Inc. | Enfusion, Inc. | Enfusion’s tax receivable agreement | ["Paid $30M to terminate Enfusion's TRA."] | 1,866,368 | 2026-05-07 | 10-Q | View Document | ||||||
| Vivid Seats Inc. | TRA Parties | Tax Receivable Agreement... were terminated; issued... 403,022 shares... to the TRA Parties | ['TRA terminated during Corporate Simplification.'] | 1,856,031 | 2026-03-12 | 10-K | View Document | ||||||
| OneStream, Inc. | Basis Adjustments from LLC Unit redemptions or exchanges; tax benefits from TRA payments | KKR, Continuing Members, and certain Former Members (TRA Members) | 85% | 85% of the amount of tax benefits; KKR and other Continuing Members; certain Former Members; basis increases as the Basis Adjustments; tax benefits attributable to payments made under TRA | [] | 1,889,956 | 2026-03-31 | 10-K/A | View Document | 85% | |||
| Alchemy Investments Acquisition Corp 1 | tax basis adjustments from TRA Exchanges; Section 754; tax benefits from TRA payments | Pubco; certain Cartiga Members (TRA Holders) | 85% | 85% of the cash tax benefits; tax basis adjustments resulting from TRA Exchanges; certain Cartiga Members (the 'TRA Holders'); Section 754 of the Code; tax benefits attributable to making payments | ['TRA payments deferred and accrue interest if unpaid.'] | 1,901,336 | 2026-05-21 | 10-Q | View Document | 85% | |||
| Alchemy Investments Acquisition Corp 1 | Tax basis adjustments from TRA Exchanges; TRA payments | Certain Cartiga Members (TRA Holders) | 85% | 85% of the cash tax benefits; tax basis adjustments resulting from TRA Exchanges; certain Cartiga Members (the “TRA Holders”); accrue interest until paid | Payments accelerate upon change of control or default. | 1,901,336 | 2026-04-30 | 10-K/A | View Document | 85% | |||
| Purple Innovation, Inc. | Tax basis increases in Purple LLC assets; imputed interest | InnoHold | 80% | 80% of the net cash savings; tax basis increases in the assets; InnoHold; imputed interest deemed to be paid | ['Full valuation allowance against deferred tax assets.'] | 1,643,953 | 2026-04-28 | 10-Q | View Document | 80% | |||
| NUSCALE POWER Corp | NuScale Corp, NuScale LLC and legacy NuScale Equityholders | liability is not probable and therefore not recorded; NuScale Corp, NuScale LLC and legacy NuScale Equityholders; No TRA payments are expected | ['Liability not recorded due to full valuation allowance.'] | 1,822,966 | 2026-05-07 | 10-Q | View Document | ||||||
| EGH Acquisition Corp. | increases in tax basis and certain other tax benefits related to any exchanges of Parent Hecate Units | Parent (the “TRA Holder”) | 85% | pay the TRA Holder 85%; increases in tax basis; certain other tax benefits; exchanges of Parent Hecate Units; with the Parent (the “TRA Holder”) | [] | 2,052,547 | 2026-03-20 | 10-K | View Document | 85% | |||
| Concord Acquisition Corp II | Events.com’s pre-closing tax attributes | Events.com, New CND, certain Events.com shareholders | 85% | pay certain Events.com stockholders 85%; Events.com’s pre-closing tax attributes; Events.com, the Company and certain Events.com shareholders | ['TRA triggered by change of control or divestiture'] | 1,851,959 | 2026-03-25 | 10-K | View Document | 85% | |||
| System1, Inc. | no amounts due; parties to the Tax Receivable Agreement | ['Full valuation allowance on deferred tax assets.'] | 1,805,833 | 2026-05-12 | 10-Q | View Document | |||||||
| Stagwell Inc | taxable exchanges of equity interests; related tax basis adjustments | certain members or former members of the Company | 85% | 85% of the tax savings realized; taxable exchanges of equity interests; related tax basis adjustments; certain members or former members | [] | 876,883 | 2026-03-13 | 10-K | View Document | 85% | |||
| Fluence Energy, Inc. | liability under the Tax Receivable Agreement | ['Text limited to definitions; no specific TRA details.'] | 1,868,941 | 2026-05-06 | 10-Q | View Document | |||||||
| Stagwell Inc | taxable exchanges of equity interests; related tax basis adjustments | certain members or former members; parent of Company | 85% | 85% of the tax savings realized; taxable exchanges of equity interests; related tax basis adjustments; certain members or former members | [] | 876,883 | 2026-05-01 | 10-Q | View Document | 85% | |||
| Vistra Corp. | benefits realized as a result of certain transactions entered into at the emergence of our predecessor from reorganization under Chapter 11 | Vistra; predecessor from reorganization under Chapter 11 | benefits realized as a result of certain transactions; emergence of our predecessor from reorganization; no material TRA payments | ["TRA relates to predecessor's Chapter 11 reorganization."] | 1,692,819 | 2026-05-08 | 10-Q | View Document | |||||
| TWFG, Inc. | make payments under the Tax Receivable Agreement | [] | 2,007,596 | 2026-05-08 | 10-Q | View Document | |||||||
| Eve Holding, Inc. | Increases in tax basis in tangible and intangible assets from Pre-Closing Restructuring; tax benefits from TRA payments. | Eve Holding, Inc., EAH | 75% | pay to EAH 75% of the net income; increases in tax basis in the assets; resulting from the Pre-Closing Restructuring; unpaid amounts will be deferred and accrue interest | ['TRA share is 75%.', 'Tax deconsolidation from EAH effectuated the TRA.'] | 1,823,652 | 2026-03-16 | 10-K | View Document | 75% | |||
| Alchemy Investments Acquisition Corp 1 | tax basis adjustments resulting from TRA Exchanges; tax benefits attributable to making payments under the TRA; depreciation and amortization deductions | Pubco; certain Cartiga Members (the “TRA Holders”) | 85% | 85% of the cash tax benefits; tax basis adjustments resulting from TRA Exchanges; certain Cartiga Members (the “TRA Holders”); tax benefits attributable to making payments; accrue interest until paid | [] | 1,901,336 | 2026-04-09 | 10-K | View Document | 85% | |||
| FLEX LTD. | tax benefits realized in relation to the IPO | Flex, TPG, Nextracker | 85% | 85% of the tax benefits realized; with Flex and TPG; tax benefits realized in relation to the IPO; range from zero to approximately $300 million | ['Flex is the beneficiary; no asset/liability recorded.'] | 866,374 | 2026-05-20 | 10-K | View Document | 85% | |||
| Shoals Technologies Group, Inc. | exchanges of Class B common stock | exchanges of Class B common stock; tax receivable agreement exchanges | [] | 1,831,651 | 2026-02-24 | 10-K | View Document | ||||||
| FIFTH THIRD BANCORP | Worldpay, Inc. | Income from the TRA associated with Worldpay, Inc.; Gain on the TRA associated with Worldpay, Inc. | ['Bancorp is beneficiary of TRA with Worldpay, Inc.'] | 35,527 | 2026-02-24 | 10-K | View Document |