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; corporate tax attributes; tax benefits from TRA payments | Certain pre-IPO owners | 90% | balance of the TRA liability was $4,021 million; allocable share of existing tax basis; 90% of certain tax benefits; certain pre-IPO owners | ['TRA share is 90% of realized tax benefits.'] | 2,046,386 | 2026-05-06 | 10-Q | 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 due to blended state tax rate.'] | 1,794,515 | 2026-05-11 | 10-Q | View Document | |||||
| CARVANA CO. | $2,228.00 | Basis adjustments from LLC Unit exchanges; imputed interest | LLC Unitholders; related parties | 85% | Ending balance 2,228; basis adjustment relating to the assets; pay to the LLC Unitholders 85%; deferred and will accrue interest until paid | ['Liability includes $1.7 billion due to related parties'] | 1,690,820 | 2026-04-29 | 10-Q | 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% | Due to Certain Non-Controlling Interest Holders; 85% of the amount of cash savings; tangible and intangible assets of Blackstone Holdings; predecessor owners; senior managing directors | [] | 1,393,818 | 2026-05-08 | 10-Q | View Document | 85% | ||
| BLUE OWL CAPITAL INC. | $1,612.61 | increases in tax basis of the assets | Registrant, Blue Owl Capital GP LLC, Blue Owl Holdings, Blue Owl Capital Carry LP | 85% | TRA liability... $1,612,609; increases in tax basis of the assets; pay 85% of certain tax benefits; Registrant, Blue Owl Capital GP LLC, Blue Owl Holdings | ['Liability includes portion classified as contingent consideration.'] | 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 and 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 | ['Executed in connection with IPO.'] | 1,866,581 | 2026-05-06 | 10-Q | View Document | 85% | ||
| TPG Inc. | $782.20 | Increase in tax basis of investment in TPG Operating Group; Covered Tax Items | Current and former employees and partners of TPG Partner Holdings; Related Parties; non-affiliates | 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; pay the beneficiaries... 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. | $778.00 | Tax basis of underlying assets (Section 754 election) | Former Managing Partners, Contributing Partners, Bridge TRA holders | 85% | Due to TRA holders $778; increase to the tax basis of underlying assets; Former Managing Partners and Contributing Partners; 85% of the amount of cash tax savings; interest is accrued on the balance | ['Includes both Apollo TRA and Bridge TRA liabilities.'] | 1,858,681 | 2026-05-07 | 10-Q | View Document | 85% | ||
| Core & Main, Inc. | $720.00 | Existing tax basis; basis increases; depreciation and amortization; TRA-related benefits | Former Limited Partners; Continuing Limited Partners; CD&R Waterworks Holdings; Management Feeder | 85% | $720 million payable to related parties; increases in tax basis; existing tax basis; Former Limited Partners; Continuing Limited Partners; 85% of the realized... benefits | ['Two separate TRAs for Former and Continuing Partners.'] | 1,856,525 | 2026-03-24 | 10-K | View Document | 85% | ||
| Cannae Holdings, Inc. | $664.00 | tax basis adjustments from sales and exchanges; utilization of certain tax attributes; other tax benefits related to entering into the TRA | certain owners of Alight Holdings prior to the Business Combination; TRA Party Representative | 85% | Ending balance as of December 31, 2025 664; tax basis adjustments from sales and exchanges; utilization of certain tax attributes; distribute 85% of any tax benefits; certain owners of Alight Holdings | ['Objection Notice received from TRA Party Representative.'] | 1,704,720 | 2026-03-02 | 10-K | View Document | 85% | ||
| Interactive Brokers Group, Inc. | $618.00 | Tax basis increases; assets of IBG LLC | IBG, Inc.; Holdings (for former IBG LLC members) | 85% | payables to Holdings... were $618 million; 85% of the tax savings; result of tax basis increases; IBG, Inc. also entered... with Holdings | [] | 1,381,197 | 2026-05-07 | 10-Q | View Document | 85% | ||
| Rocket Companies, Inc. | $590.00 | Tax basis increases, imputed interest, section 704(c) allocations, net operating losses | RHI, RHI II, Mr. Gilbert | 90% | $590 million Tax Receivable Agreement liability; 90% of the amount of cash savings; increases in the tax basis; imputed interest; section 704(c); net operating losses; RHI; Mr. Gilbert; RHI II | ['TRA share is 90%.', 'Amended to exclude exchanges after March 9, 2025.'] | 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; tax benefits from TRA payments and interest. | Holders of AOG Units; TRA recipients | 85% | TRA liability balance was $581.7 million; increases in the tax basis; payment to the TRA recipients of 85%; Holders of AOG Units | [] | 1,176,948 | 2026-05-08 | 10-Q | View Document | 85% | ||
| Alight, Inc. / Delaware | $509.00 | tax basis adjustments, utilization of tax attributes, existing tax basis | certain owners of Alight Holdings, TRA Party Representative | 85% | Ending balance as of March 31, 2026 509; 85% of any savings that we realize; tax basis adjustments from sales and exchanges; utilization of certain tax attributes; certain owners of Alight Holdings; 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; Net operating losses; Basis Adjustments; Interest deductions | SOLV Energy, Inc.; SOLV Energy Holdings LLC; Continuing Equity Owners; Blocker Shareholders | 85% | pay to the TRA Participants 85%; pay approximately $497.0 million; allocable share of tax basis; net operating losses; Basis Adjustments; interest deductions; Continuing Equity Owners, the Blocker Shareholders | ['Liability estimate assumes immediate exchange of all interests.', 'Early termination discount rate is SOFR plus 100bp.'] | 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, and TRA Payment Tax Attributes | Current and certain former LLC Unitholders | 85% | Tax Receivable Agreement liabilities of $460.8 million; 85% of the net cash savings; current and certain former LLC Unitholders; Exchange Tax Attributes; Pre-IPO M&A Tax Attributes; remedial partnership tax allocations; TRA Payment Tax Attributes | ['Liability is based on undiscounted estimated future payments.'] | 1,849,253 | 2026-05-01 | 10-Q | View Document | 85% | ||
| Planet Fitness, Inc. | $415.80 | Holdings Units sold or exchanged; tax benefits from payments under TRA (imputed interest); tax attributes from 2012 purchase by TSG Consumer Partners. | 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; tax benefits attributable to payments | ['Company entered into two tax receivable agreements.'] | 1,637,207 | 2026-05-07 | 10-Q | View Document | 85% | ||
| Nextpower Inc. | $393.20 | Existing tax basis; basis increases; blocker tax attributes; TRA-related benefits | Flex affiliate, TPG, TPG Affiliates, TPG Rise Flash | 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 | Basis increases from exchanges; existing tax basis; Blocker Entity attributes; TRA payment benefits | AEVEX Corp., Holdings LLC, TRA Rights Holders (Madison Dearborn Partners, LLC) | 85% | required to pay approximately $373.2 million; increases in the tax basis of assets; existing tax basis; tax attributes of... the Blocker Entity; Company, Holdings LLC and the TRA Rights Holders; 85% of certain tax savings | ['Liability is estimated assuming all exchanges occur immediately.'] | 2,096,300 | 2026-05-20 | 10-Q | View Document | 85% | ||
| StepStone Group Inc. | $344.20 | Increases in tax basis, imputed interest, net operating loss (NOLs) | Class B, Class C, and Class D limited partners; pre-IPO institutional investors | 85% | lesser of 6.5% and SOFR + 400bp | Pro rata | total Tax Receivable Agreements liability was $344.2 million; increases in tax basis; imputed interest; net operating loss; Class B, Class C, Class D limited partners; 85% of net cash tax savings; lesser of 6.5% and SOFR plus 400bp; distributed to the other partners pro rata | ['Includes Exchanges TRA and Reorganization TRA.'] | 1,796,022 | 2026-05-27 | 10-K | View Document | 85% |
| Portillo's Inc. | $344.20 | Existing tax basis, net operating losses, and basis adjustments from exchanges | Pre-IPO LLC Members of Portillo's OpCo | 85% | obligation for future payments totaled $344.2 million; existing tax basis in depreciable or amortizable assets; net operating losses; certain members of Portillo's OpCo; payment by us of 85% | ['Liability adjusted for equity-based compensation activity.'] | 1,871,509 | 2026-05-05 | 10-Q | View Document | 85% | ||
| Tradeweb Markets Inc. | $335.80 | Increases in tax basis of TWM LLC’s assets; tax benefits from TRA payments | Continuing LLC Owners (Refinitiv, Bank Stockholders, management) | 50% | liability... totaled $335.8 million; increases in the tax basis of TWM LLC’s assets; 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. | $335.10 | exchanges of KKR Holdings equity | KKR Holdings, Current and Former Employees | undiscounted payable of $335.1 million; exchanges of KKR Holdings equity; KKR Holdings; Current and Former Employees | ['TRA terminated May 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 accelerated upon closing of the Merger.'] | 1,685,040 | 2026-05-07 | 10-Q | View Document | |||||
| Artisan Partners Asset Management Inc. | $305.20 | Preferred units tax attributes, imputed interest, step-up of tax basis from partnership unit sales and exchanges | Pre-H&F Corp Merger Shareholder, current or former limited partners of Holdings | 85% | TRA liability... $305.2 million at March 31, 2026; 85% of the applicable cash savings; step-up of tax basis; Pre-H&F Corp Merger Shareholder; current or former limited partners | ['Two TRAs exist.', 'Expected 2026 payments total $40.4 million.'] | 1,517,302 | 2026-05-04 | 10-Q | 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; obligated to make payments of 90%; unpaid amounts... will accrue interest | ['TRA share percentage is 90%.', 'Liability includes $21.9 million remeasurement loss.'] | 1,823,144 | 2026-05-07 | 10-Q | View Document | 90% | ||
| GPGI, Inc. | $271.40 | Existing tax basis; tax basis increases; net operating losses; TRA payment benefits | Holdings; TRA Parties (holders of interests in Holdings) | 90% | 15% per annum | recorded $271.4 million ... in TRA liability; allocable share of existing tax basis; 90% of the benefits; discount rate equal to 15% per annum | ['TRA share is 90%', 'Discount rate amended to 15% in 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; certain partners of Group LP | 85% | total payable of $269.3 million; tax basis of Group LP’s assets; imputed interest; eligible Managing Directors; 85% of the amount of cash savings | ['Payments due within 225 days of tax filing.'] | 1,596,967 | 2026-04-30 | 10-Q | 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% | ||
| Stagwell Inc | $254.90 | Increases in tax basis of OpCo's assets | Stagwell Media, OpCo | 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; 85% of the net cash savings; remaining members of Alclear | ['TRA liability revalued at lower income tax rate.'] | 1,856,314 | 2026-05-06 | 10-Q | View Document | 85% | ||
| Stagwell Inc | $252.39 | increases in the 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; 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; waiver of Rook’s rights under the TRA | ['Rook assigned and waived TRA rights in February 2026.'] | 1,794,669 | 2026-05-07 | 10-Q | View Document | ||||
| 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; increases in the Company's share of tax basis; certain then-existing non-controlling members of SSE Holdings; pay the non-controlling interest holders 85% | ['TRA payments not conditioned upon continued ownership interest.'] | 1,620,533 | 2026-05-07 | 10-Q | 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 SOFR + 100bp | aggregate to approximately $243.6 million; existing tax basis of tangible and intangible assets; EWC Ventures Pre-IPO Members; 85% of the benefits; lesser of 6.5% or SOFR plus 100bp | ['Estimate assumes all future exchanges occur January 2025.'] | 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; Parties named therein | 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 | ['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, tax basis increases from exchanges, imputed interest, tax basis increases from TRA payments | Current and former members of AdaptHealth Holdings LLC | 85% | liability relating to the TRA was $238.9 million; 85% of the tax savings; current and former members of AdaptHealth Holdings LLC; tax attributes... increases in tax basis... imputed interest | [] | 1,725,255 | 2026-05-05 | 10-Q | View Document | 85% | ||
| Hamilton Lane INC | $235.40 | Tax basis step-ups; specially allocated loss items; tangible and intangible assets; tax benefits from TRA payments | Pre-IPO members of HLA; TRA Recipients | 85% | liability of $235.4 million; 85% of the amount of tax savings; pre-IPO members of HLA; increases in tax basis; specially allocated; interest accrued from the due date | [] | 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 and interest expense carryforwards of WB 892 LLC, imputed interest, and basis from TRA payments. | 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 from exchange of units; existing tax basis of assets of OpCo; NOLs and interest expense carryforwards; entered into the TRA with TRA Holders | ['Liability includes NOLs of WB 892 LLC.'] | 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; 85% of the net cash tax savings; Legence Parent and Legence Parent II; allocable share of existing tax basis; tax attributes of the 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% | ||
| Legence Corp. | $207.40 | Existing tax basis; tax attributes of Blocker Entities; Basis Adjustments from exchanges, redemptions, or distributions; tax benefits from TRA payments | Legence Parent, Legence Parent II, TRA Members, Legacy Owners | 85% | SOFR + 100bp | total undiscounted TRA liability... is $207.4 million; allocable share of existing tax basis; utilization of certain tax attributes; Basis Adjustments; Legence Parent and Legence Parent II; 85% of the net cash savings; SOFR plus 100 basis points | ['Early termination payment estimated at $545 million.'] | 2,052,568 | 2026-03-30 | 10-K | View Document | 85% | |
| Forgent Power Solutions, Inc. | $207.30 | Opco LLC Interests basis, NOLs, Blocker tax basis, existing tax basis, basis adjustments from exchanges | Forgent Parent I LP, Forgent Parent II LP, Forgent Parent III LP, Forgent Parent IV LP (Continuing Equity Owners) | 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; allocable share of tax basis; net operating losses | ['Liability recognized as realization of benefits is probable.'] | 2,080,126 | 2026-05-14 | 10-Q | View Document | 85% | ||
| European Wax Center, Inc. | $201.98 | Existing tax basis and adjustments to tax basis of tangible and intangible assets | EWC Ventures pre-IPO members | 85% | future payments under the TRA... $201,980; existing tax basis of tangible and intangible assets; EWC Ventures pre-IPO members; 85% of the applicable cash tax savings; accrue interest until paid | [] | 1,856,236 | 2026-05-13 | 10-Q | View Document | 85% | ||
| European Wax Center, Inc. | $201.50 | Existing tax basis; tax basis adjustments; Blocker Company tax attributes | EWC Ventures Pre-IPO Members | 85% | Lesser of 6.5% or SOFR + 100bp | recorded a liability of $201.5 million; 85% of the amount of tax benefits; EWC Ventures Pre-IPO Members; existing tax basis; adjustments to the tax basis; 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, WB 892 NOLs, and Imputed Interest | OpCo, TRA Holders, and Legacy Owners | 85% | SOFR + 100bp | recorded a TRA liability of $201.4 million; Existing Basis, Basis Adjustments, Historical NOLs; OpCo and certain of our shareholders; 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, TRA payment benefits | Repay Unitholders, certain service providers | 100% | liability of $200.9 million; tax basis in the net assets; holders... of Post-Merger Repay Units; required to pay 100% of tax benefits | ['TRA share is 100% of tax benefits.'] | 1,720,592 | 2026-03-09 | 10-K | View Document | 100% | ||
| Repay Holdings Corp | $191.80 | Tax basis increases in Hawk Parent; TRA payment basis; imputed interest | 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; payment by the Company of 100% | ['TRA share is 100% of realized tax benefits.'] | 1,720,592 | 2026-05-04 | 10-Q | View Document | 100% | ||
| Five Point Holdings, LLC | $181.90 | certain tax attributes; exchanges of Class A units | holders of Class A Common Units; San Francisco Venture holders | 85% | liabilities of $181.9 million; realize as a result of certain tax attributes; holders of Class A Common Units; equal to 85% of the cash savings | ['California SB 167 suspends NOL usage affecting payment timing.'] | 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; basis in contributed property | 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 the Company’s tax basis; Section 704(c) of the Code; imputed interest or guaranteed payments; holders of Class A units | ['California SB 167 may trigger payments 2026-2028.'] | 1,574,197 | 2026-03-06 | 10-K | View Document | 85% | ||
| SOLV Energy, Inc. | $172.34 | allocable share of existing tax basis; Blocker Company tax attributes (NOLs); tax basis adjustments from future redemptions or exchanges; interest deductions from TRA payments | SOLV Energy, Inc., SOLV Energy Holdings LLC, Continuing Equity Owners, Blocker Shareholders | 85% | Tax receivable agreement 172,344; pay to the TRA Participants 85%; allocable share of existing tax basis; utilization of certain tax attributes; Continuing Equity Owners, the Blocker Shareholders | ['Liability recorded in connection with the IPO.'] | 2,065,636 | 2026-05-13 | 10-Q | View Document | 85% | ||
| Goosehead Insurance, Inc. | $171.90 | Tax basis increases in tangible and intangible assets; imputed interest | Pre-IPO LLC Members | 85% | total amount of TRA Payments... was $171.9 million; 85% of the amount of cash savings; increase in tax basis in GSHD's assets; Pre-IPO LLC Members | ['Liability relates to Section 754 tax basis adjustments.'] | 1,726,978 | 2026-04-23 | 10-Q | View Document | 85% | ||
| PBF Energy Inc. | $168.20 | Increases in tax basis from unit exchanges; tax benefits from TRA payments | PBF LLC Series A and PBF LLC Series B unitholders | 85% | recognized a 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 benefits | ['Liability is undiscounted and net of valuation allowance.'] | 1,534,504 | 2026-04-30 | 10-Q | View Document | 85% | ||
| Virtu Financial, Inc. | $166.50 | Tax basis increase from unit exchanges, intangible assets, NOLs, and other tax attributes | Direct or indirect equity holders, Virtu Members | 85% | Tax receivable agreement obligations166,453; increase to the tax basis; intangible assets of Virtu Financial; Net Operating Losses (“NOLs”); direct or indirect equity holders; 85% of the applicable cash tax savings; deferred and will accrue interest until paid | ['Payments expected to range $0.3M to $22.5M annually.'] | 1,592,386 | 2026-05-01 | 10-Q | View Document | 85% | ||
| Rithm Capital Corp. | $165.40 | tax benefits from acquisitions of operating partnership units; NOLs | Sculptor; former holders of Sculptor operating partnership units | carrying value... was $165.4 million; taxable acquisitions... of Sculptor operating partnership units; tax assets (including net operating losses); former holders of units in Sculptor’s operating partnerships; payment... of a portion of the cash savings | ['TRA liability presented within unsecured notes.', 'Change of control assumptions apply due to acquisition.'] | 1,556,593 | 2026-05-04 | 10-Q | View Document | ||||
| OLAPLEX HOLDINGS, INC. | $165.10 | Amortization of intangible assets and capitalized transaction costs | Pre-IPO Stockholders | 85% | 85% of the cash savings; amortization of intangible assets and capitalized transaction costs; Pre-IPO Stockholders; aggregate to $165.1 million | ['TRA terminates upon merger; some holders waived rights.'] | 1,868,726 | 2026-05-11 | 10-Q | View Document | 85% | ||
| OLAPLEX HOLDINGS, INC. | $165.10 | Intangible assets and capitalized transaction costs; additional tax benefits from TRA payments. | Pre-IPO Stockholders (former limited partners and option holders), Award Holders. | 85% | LIBOR + 5% | liability as of December 31, 2025: $165.1 million; amortization of intangible assets and capitalized transaction costs; Pre-IPO Stockholders; 85% of the cash savings; LIBOR... plus 5% | ['OBBBA enactment reduced TRA liability by $9.5 million.', 'Award Holders have specific payment timing rules.'] | 1,868,726 | 2026-03-05 | 10-K | View Document | 85% | |
| Galaxy Digital Inc. | $149.40 | Increases in tax basis from unit exchanges; imputed interest; basis from TRA payments. | Holders of Class B Units in GDH LP; present and former limited partners of GDH LP. | 85% | TRA-related liability... of $149.4 million; 85% of the cash savings; increases in tax basis; deductions in respect of imputed interest; holders of Class B Units | ['Amended and restated on 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 Insurance Group, Inc.; 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 after concluding tax benefits are realizable.'] | 1,781,755 | 2026-05-04 | 10-Q | View Document | 85% | ||
| Rush Street Interactive, Inc. | $133.40 | Increase in tax basis and tax benefits | 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 | [] | 1,793,659 | 2026-04-29 | 10-Q | View Document | 85% | ||
| Driven Brands Holdings Inc. | $129.00 | Depreciation and amortization deductions; tax basis in intangible assets | Principal Stockholders; senior management team; current or prior stockholders | 85% | SOFR plus an applicable term adjustment plus 5% | current tax receivable agreement payable of $56 million; non-current tax receivable agreement payable of $73 million; all 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% | ['2024 payment included pre-payment of future TRA liabilities.'] | 1,804,745 | 2026-05-19 | 10-K | View Document | 85% | |
| MediaAlpha, Inc. | $123.40 | Tax basis in 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; increases in tax basis of 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% | |
| 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 | Oaktree | payable under a tax receivable agreement with Oaktree; $116 million as at December 31, 2025; tax attributes purchased from a related party | ['TRA is with Oaktree'] | 1,937,926 | 2026-03-02 | 10-K | View Document | ||||
| loanDepot, Inc. | $111.00 | Tax basis of investment in LD Holdings | Parthenon Stockholders, certain Continuing LLC Members | TRA liability of $111.0 million; tax basis of investment in LD Holdings; Parthenon Stockholders and certain Continuing LLC Members | ['No payments made during the current period.'] | 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; tax basis adjustments; incremental tax basis adjustments; deemed interest deductions; 85% of the amount of cash savings; 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 (Class B exchanges), pre-IPO NOLs | certain of its 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 the tax benefits | [] | 1,628,908 | 2026-05-07 | 10-Q | View Document | 85% | ||
| Perella Weinberg Partners | $94.00 | exchange of interests in PWP OpCo; step-up in tax basis; payments made under the TRA; certain other transactions | PWP OpCo, Professional Partners, Investor Limited Partners | 85% | liability of $94.0 million; exchange of interests in PWP OpCo; Professional Partners and Investor Limited Partners; payment of 85% of the amount | [] | 1,777,835 | 2026-05-01 | 10-Q | View Document | 85% | ||
| Flowco Holdings Inc. | $92.40 | Basis Adjustments, Section 704(c) Allocations, interest deductions, existing tax basis | Continuing Equity Owners, TRA Participants | 85% | total amount due under the TRA was $92.4 million; 85% of certain tax benefits; Basis Adjustments, Section 704(c) Allocations; Continuing Equity Owners; accrue interest until paid | ['TRA liability increased significantly due to Common Unit Conversions.'] | 2,035,149 | 2026-05-06 | 10-Q | View Document | 85% | ||
| Sun Country Airlines Holdings, Inc. | $87.17 | Pre-IPO Tax Attributes (net operating loss carryforwards) | Pre-IPO stockholders (including management and Board members) | 85% | aggregate to approximately $87,169; Pre-IPO Tax Attributes; net operating loss carryforwards; pre-IPO stockholders; 85% of the amount of cash savings; accrue interest until paid | ['Liability amount likely in thousands.'] | 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 | balance as of March 31, 2026... was $87,137; attributes that existed at the time of IPO; pre-IPO stockholders (the 'TRA holders'); TRA will terminate and be settled | ['TRA terminates upon change of control (Allegiant merger)'] | 1,743,907 | 2026-05-01 | 10-Q | View Document | ||||
| ProFrac Holding Corp. | $86.60 | $86.6 million of estimated tax receivable agreement obligations; Tax receivable agreement liability 82.0; Tax receivable agreement obligation 4.6 | [] | 1,881,487 | 2026-05-08 | 10-Q | View Document | ||||||
| ProFrac Holding Corp. | $86.60 | Increases in tax basis; imputed interest | TRA Holders (holders of ProFrac LLC interests) | 85% | Greater of 0.25% or SOFR + 150bp | 85% of the net cash savings; estimated tax receivable agreement obligations; increases in tax basis; imputed interest; SOFR plus 150 basis points | ['Termination payments estimated up to $86 million.'] | 1,881,487 | 2026-03-13 | 10-K | View Document | 85% | |
| Solaris Energy Infrastructure, Inc. | $75.00 | Increases in tax basis, imputed interest, 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; imputed interest; additional tax basis from payments; 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% | |
| Liberty Energy Inc. | $66.90 | Increases in tax basis, net operating losses, imputed interest | R/C Energy IV Direct Partnership, L.P., TRA Holders | 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. | [] | 1,694,028 | 2026-04-23 | 10-Q | View Document | 85% | ||
| Carlyle Group Inc. | $64.10 | increases in tax basis | limited partners of the Carlyle Holdings partnerships | 85% | Amounts owed under the tax receivable agreement 64.1; 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% | SOFR + 300bp | fully realizable totaled $59.2 million; 85% of the tax benefits realized; Secured Overnight Financing Rate plus 300 basis points; net operating losses and existing tax basis; increases in tax basis; continuing members of Zevia LLC | ['Liability not 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, existing tax basis, tax basis of assets purchased from Foundation | EE Holdings, the Foundation | 85% | TRA liability 51,122; Current portion of TRA liability 7,685; 85% of the amount; increases in the tax basis; existing tax basis of assets; TRA with EE Holdings and the Foundation | ['Liability includes current and long-term portions.'] | 1,888,447 | 2026-05-07 | 10-Q | View Document | 85% | ||
| GCM Grosvenor Inc. | $54.60 | Increases in tax basis from unit exchanges | TRA Parties | 85% | amount payable... was $54.6 million; increases in the tax basis; pay 85% of the amount; to the TRA Parties | [] | 1,819,796 | 2026-05-07 | 10-Q | View Document | 85% | ||
| Lazard, Inc. | $46.83 | increases in the tax basis of certain assets | Lazard and LTBP Trust | 45% and 85% | Pro rata | cumulative liability... March 31, 2026... was $46,832; increases in the tax basis of certain assets; Lazard and LTBP Trust; approximately 45%... and... 85%; distributed pro rata to the owners | ['Term until 2033; liability is undiscounted.'] | 1,311,370 | 2026-05-04 | 10-Q | View Document | 45% and 85% | |
| VERRA MOBILITY Corp | $43.67 | Tax receivable agreement liability, current portion 5,257; Tax receivable agreement liability, net of current portion | [] | 1,682,745 | 2026-05-06 | 10-Q | View Document | ||||||
| Select Water Solutions, Inc. | $43.40 | increases in tax basis, net operating losses (NOLs), imputed interest | Legacy Owner Holdco, Crestview Partners II GP, L.P. (“Crestview GP”), TRA Holders | 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; net operating losses (“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, aggregate historical tax basis | Black Rock OpCo, TRA Parties, Continuing Equity Owners | 85% | Tax receivable agreement liability 42,527; Basis Adjustments and certain tax benefits; Black Rock OpCo and the TRA Parties; 85% of the amount of tax benefits | ['TRA liability increased $3.3 million from unit exchanges'] | 2,068,577 | 2026-05-13 | 10-Q | View Document | 85% | ||
| OppFi Inc. | $39.81 | Increases in tax basis of tangible and intangible assets; Section 754; TRA payment tax benefits | Members; exchanging holders of Retained OppFi-LLC Units; Members’ Representative | 90% | Tax receivable agreement liability 39,811; 90% of the net income tax savings; increases in tax basis in our assets; Members and/or the exchanging holders; unpaid amounts will be deferred and accrue interest | ['TRA share is 90%.', 'First TRA payments of $1.0 million made in 2025.'] | 1,818,502 | 2026-03-12 | 10-K | View Document | 90% | ||
| MALIBU BOATS, INC. | $39.60 | Increases in tax basis of LLC's tangible and intangible assets; Section 754 election. | Pre-IPO owners of the LLC (or their permitted assignees). | 85% | Payable pursuant to tax receivable agreement; 85% of the amount of the benefits; pre-IPO owners of the LLC; increases in tax basis; Section 754 election | ['Liability determined on an undiscounted basis.', 'Adjustment due to OB3 tax reform changes.'] | 1,590,976 | 2026-05-07 | 10-Q | View Document | 85% | ||
| Cardinal Infrastructure Group Inc. | $39.42 | Tax basis step-up, Section 743(b), Section 197, NOL carryforward | PubCo, OpCo, Continuing Equity Holders, Diamond Interests Group LLC, Seller Owners | 85% | SOFR + 100 basis points | tax receivable agreement liability totaled $39,423,529; 85% of the net cash tax savings; SOFR plus 100 basis points; increases in the tax basis; Sections 743(b) and 197; NOL carryforward mechanics | ['Company also has a separate Tax Benefit Agreement.'] | 2,079,999 | 2026-05-13 | 10-Q | View Document | 85% | |
| Cardinal Infrastructure Group Inc. | $39.40 | Basis Adjustments (increases in tax basis); interest deductions | Cardinal Civil Contracting Holdings LLC; Continuing Equity Holders | 85% | liability on the consolidated balance sheet totaled $39,423,529; increases in tax basis; interest deductions arising from payments; Cardinal and each of the Continuing Equity Holders; 85% of the tax benefits | ['Early termination rate: lesser of 6.5% or SOFR+100bp.'] | 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 | Black Rock OpCo and Continuing Equity Owners | 85% | $38.9 million of liabilities; Basis Adjustments and certain tax benefits; Black Rock OpCo and the TRA Parties; 85% of the amount of tax benefits | [] | 2,068,577 | 2026-03-04 | 10-K | View Document | 85% | ||
| Hagerty, Inc. | $38.30 | Increases in tax basis, Section 754 adjustments, amortization of basis increase, imputed interest | Legacy Unit Holders (Hagerty Holding Corp. (HHC) and Markel) | 85% | TRA Liability was $38.3 million; increases in tax basis; Legacy Unit Holders; 85% of the... cash tax savings realized | ['TRA liability decreased due to $1.5 million payment.'] | 1,840,776 | 2026-05-06 | 10-Q | View Document | 85% | ||
| OneWater Marine Inc. | $37.50 | increases in tax basis; imputed interest | certain of the owners of OneWater LLC; TRA Holder | 85% | undiscounted liability was $37.5 million; 85% of the calculated net cash savings; certain of the owners of OneWater LLC; increases in tax basis; imputed interest | ['Liability is reported as undiscounted.'] | 1,772,921 | 2026-05-04 | 10-Q | View Document | 85% | ||
| National CineMedia, Inc. | $35.70 | Cinemark, AMC, ESA Parties | Payable under the TRA 2.9; Payable under the TRA 32.8; TRA payments to Cinemark; no longer... obligation... TRA payments to AMC | ['AMC TRA obligation terminated in 2025.'] | 1,377,630 | 2026-05-12 | 10-Q | View Document | |||||
| OppFi Inc. | $35.05 | tax basis 'step-up' | Company, 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 (other than PJT Partners Inc.) | 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% | ||
| EVgo Inc. | $33.80 | Increases in tax basis from unit redemptions, imputed interest, and TRA payment basis | CRIS, Thunder Sub, EVgo Holdings, LS Power Equity Advisors, LLC | 85% | potential unrecorded tax liability... is $33.8 million; 85% of the net cash savings; increases in tax basis; imputed interest; EVgo Holdings and LS Power Equity Advisors, LLC | ['Liability not accrued as not deemed probable.'] | 1,821,159 | 2026-05-05 | 10-Q | View Document | 85% | ||
| i3 Verticals, Inc. | $32.40 | increase in tax basis associated with Common Units, 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 the estimated future tax benefits | ['Payments are 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 Umbrella assets | TWMH Members, TIG GP Members, 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 certain tax benefits | ['Portion of TRA liability carried at fair value.'] | 1,838,615 | 2026-05-11 | 10-Q | View Document | 85% | ||
| FORWARD AIR CORP | $28.25 | tax attributes as of the date of exchanges; partnership tax rules; hypothetical sale of assets | certain Omni Holders | Tax Receivable Agreement liability of $10,580; total estimated payable of $17,675; certain Omni Holders; tax attributes as of the date of exchanges; allocation of gain or loss | ['Liability includes contingent consideration and estimated payables.'] | 912,728 | 2026-05-11 | 10-Q | View Document | ||||
| 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; pay certain parties 85% of tax benefits | ['Liability includes $8.8M 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% | $24.8 million Payable to exchanged... unitholders; increases in tax basis of PNMAC’s assets; certain former owners of PNMAC; equal to 85% of the net tax benefits | ['Liability unchanged from December 31, 2025.'] | 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 from Kennedy Endeavors acquisition. | Noncontrolling Interest Holders | 85% | liability of $23.7 million; increases in the share of the tax basis; Noncontrolling Interest Holders; 85% of the amount of any tax benefits | ['Includes tax amortization from Kennedy Endeavors acquisition.'] | 1,739,566 | 2026-05-06 | 10-Q | View Document | 85% | ||
| Red Rock Resorts, Inc. | $19.41 | Section 754 step-up in depreciable assets | Owners of LLC Units, 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; Fertitta Family Entities; owners who held LLC Units | ['$4.9 million payable to 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; 85.0% of the amount of cash savings; increases in tax basis; imputed interest | ['Liability includes $2,552 classified as current liability.'] | 1,644,378 | 2026-05-06 | 10-Q | View Document | 85.0% | ||
| NEWMARK GROUP, INC. | $17.51 | tax basis of the tangible and intangible assets; tax benefits attributable to payments under the TRA | Cantor | 85% | Tax Receivable Agreement liability $17,511; tax basis of the tangible and intangible assets; Tax Receivable Agreement... entered into with Cantor; payment by Newmark to Cantor of 85% | ['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 tangible and intangible assets | 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 $19.5 million tax receivable balance included.'] | 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 | Cantor; Newmark | 85% | $17.5 million liability to Cantor; 85% of the amount of cash savings; tax basis of the tangible and intangible assets; tax benefits attributable to payments under the 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 subject to the TRA | Members | 75% | Total $16,323; realized tax benefits subject to the TRA; Members - tax receivable agreement; 75% of such realized benefits | ['Amended to 75%; $131.4M contingent liability.'] | 1,723,128 | 2026-05-07 | 10-Q | View Document | 75% | ||
| Arxis, Inc. | $16.00 | compensation deduction from transfer of convertible common stock | Arcline Arxis Advisory I, L.P. | 85% | total liability... is approximately $16,000; compensation deduction... transfer of the convertible common stock; Arcline Arxis Advisory I, L.P.; 85% of the cash tax savings | ['TRA linked to convertible common stock compensation deduction.'] | 2,093,536 | 2026-05-28 | 10-Q | View Document | 85% | ||
| Definitive Healthcare Corp. | $13.00 | Tax basis adjustments, NOLs, and Blocker Company tax attributes | Pre-IPO LLC Unit holders, former Blocker Company shareholders | 85% | liability under the TRA of $13.0 million; tax basis adjustments; net operating losses; pre-IPO holders; former shareholders of certain Blocker Companies; pay to the TRA Parties 85% of; deferred and will 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% | TRA liability... was $12.5 million; 85% of net cash tax savings; tax basis step-ups; intangible assets; imputed interest; continuing members of Viant Technology LLC | [] | 1,828,791 | 2026-05-11 | 10-Q | View Document | 85% | ||
| P3 Health Partners Inc. | $12.40 | tax basis increases from redemptions or exchanges, TRA payments, and imputed interest | P3 LLC and the members of P3 LLC | 85% | TRA liability is estimated to be $12.4 million; increases in our share of the tax basis; P3 LLC and the members of P3 LLC; payment by us of 85% | ['No TRA liability recorded as payments not probable.'] | 1,832,511 | 2026-05-14 | 10-Q | View Document | 85% | ||
| Viant Technology Inc. | $12.40 | Tax basis step-ups, imputed interest, intangible assets basis | Viant Technology LLC, continuing members, TRA Representative | 85% | total TRA liability is approximately $12.4 million; 85% of the amount of the net cash; increases in tax basis; imputed interest; continuing members of Viant Technology LLC; TRA Representative | ['Liability recorded upon release of valuation allowance.'] | 1,828,791 | 2026-03-11 | 10-K | View Document | 85% | ||
| P3 Health Partners Inc. | $12.40 | Tax basis increases from exchanges, TRA payments, imputed interest | P3 Health Partners Inc., P3 LLC, P3 Equityholders | 85% | TRA liability is estimated to be $12.4 million; 85% of the income tax benefits; increases in our proportionate share of tax basis; P3 Equityholders; imputed interest pursuant to the TRA | ['Liability not recorded due to full valuation allowance.'] | 1,832,511 | 2026-03-26 | 10-K | View Document | 85% | ||
| FORWARD AIR CORP | $10.58 | Increases in tax basis; pre-existing tax attributes; tax allocations; TRA payments | Forward Air Corp; Clue Opco LLC; Omni Holders | 83.5% | adjusted the liability recorded to $10,580; increases in tax basis in Opco’s assets; Company, Opco, Omni Holders and certain other parties; obligated to pay certain Omni Holders 83.5%; deferred and will accrue interest until paid | ['Valuation allowance recorded against associated deferred tax assets.'] | 912,728 | 2026-03-11 | 10-K | View Document | 83.5% | ||
| Smith Douglas Homes Corp. | $9.86 | Basis Adjustments, Section 704(c) Allocations, interest deductions, Section 743(b), Section 197 | Smith Douglas Homes Corp., Smith Douglas Holdings LLC, Continuing Equity Owners | 85% | Tax receivable agreement liability 9,857; Basis Adjustments, Section 704(c) Allocations, interest deductions; Smith Douglas Homes Corp. and Continuing Equity Owners; 85% of certain tax benefits; unpaid amounts will be deferred and accrue interest | ['Liability remeasured due to change in tax rate.', 'No payments made during 2024 or 2025.'] | 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), 197 | Smith Douglas Homes Corp., Smith Douglas Holdings LLC, Continuing Equity Owners | 85% | TRA liability of $9.4 million; Basis Adjustments, Section 704(c) Allocations, interest deductions; Smith Douglas Homes Corp., Smith Douglas Holdings LLC, Continuing Equity Owners; 85% of certain tax benefits; accrue interest until paid | [] | 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. | SLP Partners; current principals; future employee-holders of Class B units. | 85% | liability is estimated to be $9,333; pay the SLP Partners 85%; increases in tax basis; tangible and intangible assets 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, prior distributions, imputed interest, and TRA payments. | Current principals of Silvercrest L.P. and future employee-holders of Class B units. | 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 the cash savings | ['TRA terminates if partner is fired for cause.'] | 1,549,966 | 2026-03-16 | 10-K | View Document | 85% | ||
| Array Technologies, Inc. | $5.80 | deductions generated by the increase in the tax value of the developed technology | Array Tech, Inc.; former majority stockholder of Array Tech, Inc. | fair value of the TRA was $5.8 million; increase in the 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 | 85% | estimated unrecorded TRA liability was approximately $4.6 million; tax basis and certain other 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 4,524; Blackstone Tax Receivable Agreement was terminated; Blackstone Investor | ['Blackstone TRA terminated upon completion of Second Closing.'] | 1,828,937 | 2026-05-11 | 10-Q | View Document | |||||
| biote Corp. | $4.39 | Tax basis increases in tangible and intangible assets; tax benefits from 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; non-controlling interest holders; unpaid amounts will be deferred and accrue interest | ['Legal settlement in 2024 reduced TRA liability by $17.3M.'] | 1,819,253 | 2026-03-13 | 10-K | View Document | 85% | ||
| MARKETWISE, INC. | $4.30 | Tax basis adjustments from exchanges, distributions, carryforward attributes | MarketWise, Inc., MarketWise Members, MarketWise, LLC | 85% | TRA liability was $4.3 million; 85% of the tax benefits; increases in the tax basis; unpaid amounts will be deferred and accrue interest | [] | 1,805,651 | 2026-03-06 | 10-K | View Document | 85% | ||
| biote Corp. | $4.19 | tax basis in the net assets of Holdings | 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; approximately 85% of the amount of any tax benefits | TRA liability decreased due to payments made. | 1,819,253 | 2026-05-11 | 10-Q | View Document | 85% | ||
| MARKETWISE, INC. | $4.04 | basis adjustments and other carryforward attributes | members of MarketWise, LLC; Mark P. Arnold; Jama 2021, LLC | 85% | cumulative liability of $4,035 under the TRA; basis adjustments and other carryforward attributes; members of MarketWise, LLC; 85% of the calculated tax savings; unpaid amounts will accrue interest until paid | ['Arnold Parties waived TRA rights in settlement.', 'M&C proposal contingent on TRA termination.'] | 1,805,651 | 2026-05-07 | 10-Q | View Document | 85% | ||
| Finance of America Companies Inc. | $3.90 | Tax basis adjustments from unit exchanges, distributions, and TRA payment benefits. | Certain owners of FOA Equity, Blackstone Investor | 85% | TRA obligation 3,901; 85% of the cash tax benefits; sales and exchanges of Class A LLC Units; 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 Shares, B.V. Non-Voting Shares, redemptions, exchanges, imputed interest | HMH B.V., Principal Stockholders | 85% | expects to record a TRA liability... $3.8 million; acquisitions of B.V. Voting Shares; redemptions or exchanges of B.V. Non-Voting Shares; imputed interest deemed arising; HMH B.V. and the Principal Stockholders; pay 85% of the net cash savings | ['TRA liability expected in second quarter 2026.'] | 2,021,880 | 2026-05-06 | 10-Q | View Document | 85% | ||
| INFINITY NATURAL RESOURCES, INC. | $3.60 | tax basis increases from exchange of INR Units; imputed interest; additional tax basis from TRA payments | Legacy Owners (owners of INR Holdings prior to IPO) | 85% | TRA liability of $3.6 million; 85% of the net cash savings; tax basis increases resulting from the exchange; owners of INR Holdings prior to the IPO | Liability increased following redemption of 467,744 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; continuing members | 85% | TRA liability was $2.7 million; 85% of the amount of cash savings; increases to the tax basis; tax benefits related to imputed interest; WMH LLC Class A equity holders | ['Full valuation allowance; hypothetical liability is $138.9 million.'] | 1,779,474 | 2026-03-12 | 10-K | View Document | 85% | ||
| INFINITY NATURAL RESOURCES, INC. | $1.54 | 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 recognized when taxable income realization is probable'] | 2,029,118 | 2026-03-10 | 10-K | View Document | 85% | ||
| GoHealth, Inc. | $1.30 | Existing tax basis, increases in tax basis, and imputed interest. | Continuing Equity Owners and the Blocker Shareholders | 85% | $1.3 million liability; 85% of the tax benefits; Continuing Equity Owners and the Blocker Shareholders; allocable share of existing tax basis | ['Liability reflects tax benefits expected to be utilized.'] | 1,808,220 | 2026-03-31 | 10-K | View Document | 85% | ||
| GoHealth, Inc. | $1.30 | GHH, LLC, Continuing Equity Owners, and Blocker Shareholders | 85% | $1.3 million liability related to the Tax Receivable Agreement; 85% of the amount of tax benefits; GHH, LLC, Continuing Equity Owners, Blocker Shareholders | [] | 1,808,220 | 2026-05-18 | 10-Q | View Document | 85% | |||
| GEN Restaurant Group, Inc. | $1.10 | Increases in tax basis, net operating losses, imputed interest | Members of GEN LLC and their permitted assignees | 85% | lesser of 6.5% and SOFR + 400bp | liability related to its projected obligations... $1.1 million; increases in tax basis; net operating losses; members of GEN LLC; 85% of the net cash tax savings; lesser of 6.5% and SOFR + 400bp | ['Aggregate future payments estimated at $99.6 million.'] | 1,891,856 | 2026-03-31 | 10-K | View Document | 85% | |
| GEN Restaurant Group, Inc. | $1.10 | basis increases from redemptions or exchanges; TRA payment tax benefits | GEN Inc., Operating Company, and each of the Members | 85% | liability related to its projected obligations... $1.1 million; increases in tax basis from redemptions or exchanges; GEN Inc... Operating Company and each... Members; Members of 85% of... tax benefits | ['Projected TRA payments total $99.6 million through 2037.'] | 1,891,856 | 2026-05-14 | 10-Q | View Document | 85% | ||
| Bakkt, Inc. | $0.60 | tangible and intangible assets of Opco; Section 743(b) or 734(b) basis adjustments; tax benefits from TRA payments | certain Opco equity holders, ICE, Mr. Naheta | 85% | 85% of certain net income tax benefits; approximately $0.6 million remained to be paid; tangible and intangible assets of Opco; ICE and Mr. Naheta; Section 743(b) or 734(b) of the Code | ['TRA was settled and amended during 2025 reorganization.'] | 1,820,302 | 2026-03-19 | 10-K | View Document | 85% | ||
| Bakkt, Inc. | $0.50 | Tangible and intangible assets of Opco; Section 743(b); Section 734(b) | Opco equity holders; ICE; Mr. Naheta | 85% | $0.5 million remained to be paid; tangible and intangible assets of Opco; Section 743(b) or 734(b); ICE and Mr. Naheta; 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 | Tax basis of assets; redemptions or exchanges; distributions; TRA payments | Fluence Energy, LLC; Siemens Industry, Inc.; AES Grid Stability, LLC | 85% | estimated $0.3 million; increases in the tax basis of assets; Siemens Industry, Inc. and AES Grid Stability, LLC; 85% of the tax benefits | ['Full valuation allowance recorded against deferred tax assets.', 'Potential TRA liability estimated at $117 million.'] | 1,868,941 | 2026-05-06 | 10-Q | View Document | 85% | ||
| Funko, Inc. | $0.25 | common units of FAH, LLC; payments under TRA | FAH, LLC; Continuing Equity Owners; certain transferees | 85% | TRA liability... of $249 thousand; exchanges... of common units of FAH, LLC; Continuing Equity Owners, and certain transferees; 85% of the amount of tax benefits | ['Gross liability is $102.5 million.'] | 1,704,711 | 2026-05-07 | 10-Q | View Document | 85% | ||
| RE/MAX Holdings, Inc. | $0.20 | RIHI, Inc. | total liability under the TRAs... is $0.2 million; between the Company and RIHI; RIHI TRA will terminate upon the closing | ['TRA terminates upon merger closing with no further payments.'] | 1,581,091 | 2026-05-08 | 10-Q | View Document | |||||
| Funko, Inc. | $0.12 | Redemptions or exchanges of common units; Section 754 election; TRA payments | Continuing Equity Owners; certain transferees; FAH, LLC | 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; accrue interest until paid | ['Liability derecognized in 2023 due to valuation allowance.'] | 1,704,711 | 2026-03-12 | 10-K | View Document | 85% | ||
| Direct Digital Holdings, Inc. | $0.04 | Basis adjustments from LLC Unit redemptions or exchanges and TRA payments | Direct Digital Holdings, DDH LLC, and Direct Digital Management, LLC (DDM) | 85% | liability... less than $0.1 million; increases in the tax basis of assets; Direct Digital Holdings, DDH LLC and DDM; 85% of the tax benefits | ['Liability derecognized in 2024 due to valuation allowance.'] | 1,880,613 | 2026-03-31 | 10-K | View Document | 85% | ||
| Direct Digital Holdings, Inc. | $0.04 | Tax basis in net assets of DDH LLC; 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; accrue interest from the due date | ['Liability is $41 thousand.', 'Full valuation allowance on deferred tax assets.'] | 1,880,613 | 2026-05-15 | 10-Q | View Document | 85% | ||
| Bioventus Inc. | $0.00 | Tax basis increases from redemptions, exchanges, or distributions; tax benefits from TRA payments. | Smith & Nephew, Inc. (Continuing LLC Owner) | 85% | had not recorded any liabilities; increases in the tax basis of assets; Smith & Nephew, Inc.; 85% of the tax benefits; accrue interest until paid | ['No liability recorded as of December 31, 2025.'] | 1,665,988 | 2026-03-05 | 10-K | View Document | 85% | ||
| NUSCALE POWER Corp | $0.00 | NuScale Corp, NuScale LLC and various 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 valuation allowance.'] | 1,822,966 | 2026-05-07 | 10-Q | View Document | |||||
| Nerdy Inc. | $0.00 | Increases in tax basis (recapitalization, redemptions); imputed interest; additional basis from payments | Legacy Nerdy Holders | 85% | not recognized a liability of $118,238; 85% of the net cash savings; certain Legacy Nerdy Holders; certain increases in tax basis; imputed interest; additional basis arising from, any payments | ['Liability not recognized; potential obligation is $118.2 million.'] | 1,819,404 | 2026-05-07 | 10-Q | View Document | 85% | ||
| Rani Therapeutics Holdings, Inc. | $0.00 | Increases in tax basis of assets; TRA payments | ICL and certain Continuing LLC Owners | 85% | Company has not recorded a liability; increases in the tax basis of assets; ICL and the other Continuing LLC Owners; 85% of the amount of tax benefits; terminated the TRA in December 2025 | ['TRA terminated December 2025; no further obligations.'] | 1,856,725 | 2026-03-26 | 10-K | View Document | 85% | ||
| Symbotic Inc. | $0.00 | attributes obtained as a result of exchanges | Legacy Warehouse Holders; TRA Holders | 85% | no TRA liability was recorded; 85% of these potential future tax benefits; attributes obtained... as a result of exchanges; Legacy Warehouse Holders | ['Potential payments of $484.4 million not recorded.'] | 1,837,240 | 2026-05-06 | 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% | ||
| FLYEXCLUSIVE INC. | $0.00 | certain tax basis adjustments | Thomas James Segrave Jr., LG Trust, ML Trust, LM Trust, TJ Trust, LGM | 85% | no TRA liability has been recorded; certain tax basis adjustments; Thomas James Segrave Jr.; 85% of the Realized Tax Benefit | ['No liability recorded as benefit utilization not probable.'] | 1,843,973 | 2026-05-11 | 10-Q | View Document | 85% | ||
| Intuitive Machines, Inc. | $0.00 | existing tax basis; tax basis adjustments; Business Combination tax benefits; TRA payment deductions | TRA Holders (certain Intuitive Machines, LLC members and related parties) | 85% | does not expect a TRA liability; existing tax basis in certain assets; tax basis adjustments from taxable exchanges; 85% of the amount of cash tax savings; 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% | ||
| Greenlane Holdings, Inc. | $0.00 | Increases in tax basis of assets; tax benefits from TRA payments | Members of the Operating Company | 85% | recorded no liability under the TRA; 85% of the tax benefits; increases in the tax basis of assets; members of the Operating Company | ['No liability recorded due to valuation allowance.'] | 1,743,745 | 2026-03-31 | 10-K | View Document | 85% | ||
| AST SpaceMobile, Inc. | $0.00 | Existing tax basis; tax basis adjustments; tax deductions from TRA payments; tax attributes from reorganization | AST LLC; TRA holders | 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 certain payments; tax attributes acquired pursuant to a reorganization transaction | ['Full valuation allowance against deferred tax assets.'] | 1,780,312 | 2026-05-11 | 10-Q | View Document | 85% | ||
| Vivid Seats Inc. | $0.00 | Increases in tax basis from exchanges; existing tax basis in long-lived assets; imputed interest deductions. | Existing Hoya Intermediate unitholders, Hoya Topco, LLC | 85% | we no longer have a TRA liability; 85% of the amount of any tax savings; 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.'] | 1,856,031 | 2026-05-05 | 10-Q | View Document | 85% | ||
| Bumble Inc. | $0.00 | Common Units | Founder, Sponsor, affiliate of Accel Partners LP, management and other equity holders | obligations were fully settled in November 2025; exchanges of Common Units; Founder, our Sponsor, an affiliate of Accel Partners LP | ['TRA fully terminated and settled in November 2025.'] | 1,830,043 | 2026-05-06 | 10-Q | View Document | ||||
| Vivid Seats Inc. | $0.00 | Basis increases from exchanges, existing tax basis, imputed interest | Hoya Intermediate unitholders, Hoya Topco | 85% | we will no longer have a TRA liability; 85% of the amount of any tax savings; increases in the tax basis; existing tax basis; imputed interest; existing Hoya Intermediate unitholders; Hoya Topco | ['TRA terminated October 2025 via Corporate Simplification Agreement.'] | 1,856,031 | 2026-03-12 | 10-K | View Document | 85% | ||
| Intuitive Machines, Inc. | $0.00 | Existing Basis, Basis Adjustments, Interest Deductions, Business Combination tax benefits, TRA payment deductions | Intuitive Machines, LLC and certain Intuitive Machines Members (TRA Holders) | 85% | SOFR + 100bp | The TRA is unrecognized.; Existing Basis, Basis Adjustments and Interest Deductions; Intuitive Machines, LLC and certain Intuitive Machines Members; 85% of the amount of cash tax savings; SOFR plus 100 basis points | ['TRA is unrecognized due to full valuation allowance.'] | 1,844,452 | 2026-03-19 | 10-K | View Document | 85% | |
| 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 | ['No liability recorded due to full valuation allowance.'] | 1,841,925 | 2026-05-11 | 10-Q | View Document | 85% | ||
| FuboTV Inc. | $0.00 | Historic NOLs, basis adjustments from redemptions or exchanges, distributions, TRA payments, and imputed interest. | FuboTV Inc., Newco, Hulu | 70% | no TRA liability has been recorded; historic net operating loss carryforwards (“NOLs”); increases in tax basis in Newco’s assets; Company, Newco and Hulu entered into; obligates the Company to pay Hulu... 70% | ['TRA share is 70% of realized tax benefits.'] | 1,484,769 | 2026-05-06 | 10-Q | View Document | 70% | ||
| Cibus, Inc. | $0.00 | no TRA liability has been recorded; liability... is not probable; TRA, dated May 31, 2023 | ['Liability not probable due to valuation allowance.'] | 1,705,843 | 2026-05-14 | 10-Q | View Document | ||||||
| PROKIDNEY CORP. | $0.00 | increases in tax basis attributable to exchanges; certain other tax attributes of PK Holdings | Closing ProKidney Unitholders | 85% | not recognized any liability related to this agreement; 85% of the amount of cash savings; Closing ProKidney Unitholders; increases in tax basis attributable to exchanges; certain other tax attributes of PK Holdings | ['No liability recognized as of March 31, 2026.'] | 1,850,270 | 2026-05-15 | 10-Q | View Document | 85% | ||
| Bitcoin Depot Inc. | $0.00 | Existing tax basis in assets of BT HoldCo and BT OpCo; tax basis adjustments; imputed interest. | Bitcoin Depot Inc.; BT HoldCo; BT Assets; Brandon Mintz; 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; generally at a default rate | ['TRA terminated May 30, 2025.'] | 1,901,799 | 2026-03-18 | 10-K | View Document | 85% | ||
| Sky Harbour Group Corp | $0.00 | Existing tax basis in certain assets; 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... liability under the Tax Receivable Agreement; existing tax basis in certain assets; tax basis adjustments resulting from taxable exchanges; pay the TRA Holders 85% of... savings; Company, Sky, Existing Sky Equityholders, Tal Keinan | [] | 1,823,587 | 2026-03-19 | 10-K | View Document | 85% | ||
| Xponential Fitness, Inc. | $0.00 | NOLs, existing tax basis, tax basis adjustments, imputed interest | Continuing Pre-IPO LLC Members, owners of the Blocker Companies | 85% | LIBOR + 100 basis points | $88,439 of the TRA liability was not recorded; net operating losses; existing tax basis; tax basis adjustments; imputed interest; Continuing Pre-IPO LLC Members; 85% of the amount of cash savings; LIBOR plus 100 basis points | ['Liability not recorded due to valuation allowance.'] | 1,802,156 | 2026-03-04 | 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 and MLSH 2 | 85% | no current liability under the TRA; 85% of the amount of tax benefits; MLSH 1 and MLSH 2; increases in the tax basis of assets; tax attributes of the entities acquired | ['Liability derecognized as realization was not probable.'] | 1,823,239 | 2026-05-08 | 10-Q | View Document | 85% | ||
| WM TECHNOLOGY, INC. | $0.00 | additional tax basis | 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 | ['Full valuation allowance resulted in nil TRA liability.'] | 1,779,474 | 2026-05-11 | 10-Q | View Document | 85% | ||
| Purple Innovation, Inc. | $0.00 | Tax basis increases in Purple LLC assets; imputed interest | InnoHold; former founders | 80% | no liability was recorded; 80% of certain tax benefits; InnoHold; tax basis increases in the assets; imputed interest; estimate of liability was $170.5 million | ['Liability zero; preliminary estimate is $170.5 million.'] | 1,643,953 | 2026-03-31 | 10-K | View Document | 80% | ||
| Brilliant Earth Group, Inc. | $0.00 | Tax basis adjustments, Section 743(b), Section 197 | Continuing Equity Owners | 85% | no TRA liability reflected; tax basis adjustments; Sections 743(b) and 197; Continuing Equity Owners; 85% of the amount of tax benefits | ['TRA liability not probable due to valuation allowance'] | 1,866,757 | 2026-05-07 | 10-Q | View Document | 85% | ||
| NET Power Inc. | $0.00 | existing tax basis of certain assets; tax basis adjustments; tax deductions from TRA payments | certain OpCo unitholders | 75% | reduced the TRA liability... to zero; existing tax basis of certain assets; tax basis adjustments; pay approximately 75% of the calculated tax savings | ['TRA terminated effective June 12, 2025', 'Liability reduced to zero in March 2025'] | 1,845,437 | 2026-03-09 | 10-K | View Document | 75% | ||
| TWFG, Inc. | $0.00 | increase in tax basis in TWFG Holding’s tangible and intangible assets; imputed interest | Pre-IPO LLC Members; other holders of LLC Units | 85% | no related liability is recorded; 85% of the amount of cash savings; increase in tax basis in TWFG Holding’s assets; imputed interest resulting from payments; Pre-IPO LLC Members | ['No liability recorded as of December 31, 2025.'] | 2,007,596 | 2026-03-10 | 10-K | View Document | 85% | ||
| Verde Clean Fuels, Inc. | $0.00 | Increases in tax basis from OpCo Units acquisition, imputed interest, and 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; Holdings, TRA Holders, and the Agent; pay each TRA Holder 85% | ['Payment cap of $50,000 for change of control.'] | 1,841,425 | 2026-05-12 | 10-Q | View Document | 85% | ||
| Camping World Holdings, Inc. | $0.00 | Increases in tax basis; Section 754 election; tax benefits from TRA payments | Continuing Equity Owners; Crestview Partners II GP, L.P. | 85% | did not have a Tax Receivable Agreement liability; increases in the tax basis; Continuing Equity Owners and Crestview Partners II GP; 85% of the amount of tax benefits | ['Full valuation allowance makes liability not probable.'] | 1,669,779 | 2026-04-30 | 10-Q | View Document | 85% | ||
| Solo Brands, Inc. | $0.00 | no liability has been recorded; due to its immateriality; reduce future cash payment obligations | ['Corporate simplification expected to reduce future TRA obligations.'] | 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 | ['TRA obligations terminated on May 29, 2024.'] | 1,606,366 | 2026-03-13 | 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 + 100bp | 85% of the amount of cash savings; LIBOR plus 100 basis points; net operating losses; existing tax basis; tax basis adjustments; imputed interest; $116,527 of the TRA liability was not recorded | ['Full valuation allowance; $116.5M liability not recorded.'] | 1,802,156 | 2026-05-08 | 10-Q | View Document | 85% | |
| 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, vTv Therapeutics Holdings, 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% | ||
| System1, Inc. | $0.00 | Tax basis increases from exchanges, TRA payments, imputed interest | Certain then-existing members of System1 Holdings | 85% | reduced our TRA liability... to zero; increases in our share of the tax basis; certain of the then-existing members; payment by us of 85% | ['Liability reduced to zero due to valuation allowance.'] | 1,805,833 | 2026-03-11 | 10-K | View Document | 85% | ||
| Bioventus Inc. | $0.00 | Tax basis increases from redemptions, exchanges, prior sales, distributions; TRA payment tax benefits. | Continuing LLC Owner | 85% | had not recorded any liabilities under the TRA; increases in the tax basis of assets; Continuing LLC Owner; 85% of the amount of tax benefits; deferred and will accrue interest until paid | ['No liability recorded as no LLC interests exchanged.'] | 1,665,988 | 2026-05-06 | 10-Q | View Document | 85% | ||
| Bumble Inc. | $0.00 | Existing tax basis, Common Basis, basis adjustments from unit exchanges, Blocker Company tax attributes | Blackstone, the Founder, certain other pre-IPO owners | 85% | liability... nil as of December 31, 2025; allocable share of existing tax basis; Common Basis; tax attributes of the Blocker Companies; Blackstone, the Founder... other pre-IPO owners; 85% of the benefits | ['TRA terminated via buyout in November 2025.'] | 1,830,043 | 2026-03-16 | 10-K | View Document | 85% | ||
| vTv Therapeutics Inc. | $0.00 | Tax basis increases from unit exchanges, imputed interest, and TRA payment tax benefits | M&F TTP Holdings Two LLC, M&F TTP Holdings LLC, MacAndrews | 85% | not recognized any liability; 85% of the amount of cash savings; increases in the tax basis; imputed interest deemed to be paid; M&F TTP Holdings Two LLC; accrue interest until paid | ['No liability recognized as of December 31, 2025.'] | 1,641,489 | 2026-03-10 | 10-K | View Document | 85% | ||
| Verde Clean Fuels, Inc. | $0.00 | Increases in tax basis from unit exchanges, imputed interest, and basis from TRA payments | Holdings, TRA Holders, Agent | 85% | Greater of 0.25% or SOFR + 150 basis points | did not record a tax receivable liability; increases in tax basis; imputed interest; Holdings, TRA Holders, and the Agent; pay each TRA Holder 85%; discount rate equal to 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% | |
| FLYEXCLUSIVE INC. | $0.00 | Tax basis adjustments from repurchases and taxable exchanges of LGM Common Units; tax deductions from TRA payments. | flyExclusive, LGM, Thomas James Segrave Jr., Segrave Trusts, TRA Holder Representative | 85% | pay the Existing Equityholders 85%; tax basis adjustments resulting from the repurchase; maximum amount payable... approximately $6.1 million; we, LGM, the Existing Equityholders | ['Liability not probable; $6.1M max early termination estimate.'] | 1,843,973 | 2026-03-05 | 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% | ['Liability not recorded due to valuation allowance assessment.'] | 1,743,745 | 2026-04-30 | 10-K/A | View Document | 85% | ||
| Cibus, Inc. | $0.00 | no TRA liability existed | ['TRA liability not probable due to valuation allowance'] | 1,705,843 | 2026-03-17 | 10-K | View Document | ||||||
| PROKIDNEY CORP. | $0.00 | increases in tax basis; other tax attributes of PK Holdings | Closing ProKidney Unitholders | 85% | not recognized any liability related to this agreement; increases in tax basis of ProKidney assets; Closing ProKidney Unitholders; required to pay 85% of certain tax savings | ['No liability recognized as of December 31, 2025.'] | 1,850,270 | 2026-03-18 | 10-K | View Document | 85% | ||
| EVgo Inc. | $0.00 | Increases in tax basis; imputed interest | CRIS, Thunder Sub, EVgo Holdings, LS Power Equity Advisors, LLC | 85% | one-year LIBOR + 100 basis points | 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 Holdings and LS Power Equity Advisors | ['Unrecorded liability estimated at $33.2 million.'] | 1,821,159 | 2026-03-09 | 10-K | View Document | 85% | |
| Andersen Group Inc. | $0.00 | increase in tax basis in assets; tax benefits from payments; imputed interest | Aggregator; holders of Class X Umbrella Units | 85% | not yet incurred a liability; increase in tax basis; Aggregator; 85% of the tax benefits; accrue interest until paid | ['No liability incurred as of December 31, 2025.'] | 2,065,708 | 2026-03-27 | 10-K | View Document | 85% | ||
| Clearwater Analytics Holdings, Inc. | $0.00 | Tax Attributes | affiliates of Prior Principal Equity Owners, CWAN Holdings, executive officers | 85% | one-time settlement payments... $72.5 million; no further payment obligations; as a result of Tax Attributes; payment by the Company of 85% | ['TRA terminated via $72.5M settlement amendment.'] | 1,866,368 | 2026-04-01 | 10-K/A | View Document | 85% | ||
| Zeo Energy Corp. | $0.00 | Increases in tax basis, imputed interest, and other tax attributes | OpCo and certain OpCo members (TRA Holders) | 85% | 85% of the net cash savings; increases in tax basis; imputed interest; had not recorded a liability; estimated unrecorded TRA liability was approximately $5.7 million | ['Liability not recorded; estimated unrecorded liability is $5.7 million.'] | 1,865,506 | 2026-04-01 | 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% | ||
| 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; agent of the TRA holders; became final and binding on June 12, 2025 | TRA terminated June 12, 2025; liability is zero. | 1,845,437 | 2026-05-11 | 10-Q | View Document | ||||
| RE/MAX Holdings, Inc. | step-up in tax basis on RMCO’s assets | RIHI; RMCO’s other pre-IPO owner | 85% | step-up in tax basis on RMCO’s assets; RIHI; RMCO’s other pre-IPO owner; pay the counterparties 85% of the amount; unpaid amounts... accrue interest until paid | [] | 1,581,091 | 2026-04-30 | 10-K/A | View Document | 85% | |||
| Falcon's Beyond Global, Inc. | Increases in tax basis from exchanges; TRA payments | Falcon’s Opco, Exchange TRA Holders, the Company | 85% | 85% of the amount of tax benefits; increases in tax basis resulting from any exchange; partners of Falcon’s Opco; tax benefits attributable to payments made under TRA | ['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; certain other tax attributes; tax benefits attributable to payments under the TRA | exchanging Repay Unitholders; John Morris; Shaler Alias; Tim Murphy | 100% | Term SOFR + 571.513bp | 100% of the tax benefits; Term SOFR plus 571.513 basis points; increases in tax basis; certain other tax attributes; exchanging Repay Unitholders | ['TRA share percentage is 100%, which is atypical.'] | 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, asset amortization/depreciation, IPO-related deductions, option exercise/cancellation, management fees, employment taxes. | Equity holders of Holdings, Class P Unit holders, AE Industrial Partners, BlackRock. | 85% | SOFR + 500 basis points | Pro rata | does not anticipate recording the TRA liability; 85% of certain tax savings; net operating losses, research and development tax credits; equity holders of Holdings and Class P Units; SOFR plus 500 basis points; allocated pro rata according to the number | ['Liability not recorded as realization is 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 | [] | 1,360,901 | 2026-05-06 | 10-Q | View Document | |||||||
| Falcon's Beyond Global, Inc. | Increases in tax basis of Falcon’s Opco assets | Falcon’s Beyond Global, Inc., Falcon’s Opco, TRA Holders | 85% | equal to 85% of the tax benefits; increases in the tax basis of assets; Company’s unitholders and Falcon’s Opco; unpaid amounts will be deferred and accrue interest | ['Amendment on October 24, 2024 clarifies transfer rights.'] | 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 Stockholders, 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 Stockholders; Advent Funds | ['TRA terminates upon merger', 'Advent Funds waived payment 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; corporate level tax liability exceeded $420 million; Liberty Broadband and GCI Liberty | ['Entitlement triggered if tax liability exceeds $420 million.'] | 1,611,983 | 2026-04-28 | 10-Q | View Document | |||||
| AST SpaceMobile, Inc. | Existing tax basis; tax basis adjustments; tax deductions; Blocker Corporation tax attributes | Company, AST LLC, TRA Holders, Thomas Severson (TRA Holder Representative) | 85% | pay the TRA Holders 85% of the amount; existing tax basis in certain assets; tax basis adjustments resulting from taxable exchanges; Company, AST LLC, TRA Holders, Thomas Severson; accrue interest until paid | [] | 1,780,312 | 2026-03-02 | 10-K | View Document | 85% | |||
| Solo Brands, Inc. | Tax basis increases from redemptions/exchanges, imputed interest, TRA payment basis increases | TRA Participants, Prior Continuing LLC Owners, non-controlling interest holders | 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% | |||
| Rocket Companies, Inc. | certain increases in tax basis and other tax benefits | RHI, RHI II, and Mr. Gilbert | 90% | payment by the Company of 90%; with RHI II and Mr. Gilbert; certain increases in tax basis | ['TRA share is 90% of tax savings.', 'Amendment related to Up-C Collapse.'] | 1,805,284 | 2026-05-12 | 10-Q | View Document | 90% | |||
| UWM Holdings Corp | Increases in tax basis from Exchange Transactions, imputed interest, and disproportionate allocations of tax benefits | SFS Corp. | 85% | increase in the TRA liability... $50.1 million; 85% of the amount of cash savings; TRA... with SFS Corp.; increases in tax basis resulting from Exchange Transactions; imputed interest deemed to be paid; disproportionate allocations (if any) of tax benefits | ['TRA liability is 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, Blocker 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 on February 4, 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 | future payment to our 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 adjustments from exchanges; Blocker Corp tax attributes; 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 | ['TRA liability not recorded due to valuation allowance.'] | 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% | pay certain Events.com stockholders 85%; utilization of Events.com’s pre-closing tax attributes; Events.com, the Company and certain Events.com shareholders | ['Change of control requires early termination payment.'] | 1,851,959 | 2026-05-14 | 10-Q | View Document | 85% | |||
| Andersen Group Inc. | Tax basis increase in AT Umbrella LLC assets; 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; Aggregator; holders of Class X Umbrella Units | ['Company has not yet incurred a TRA liability.'] | 2,065,708 | 2026-05-12 | 10-Q | View Document | 85% | |||
| Finance of America Companies Inc. | Corporation, stockholders, BL Investors, Blackstone Investors | Corporation and the stockholders; BL Investors; Blackstone Investors; Exchange pursuant to the Tax Receivable Agreements | [] | 1,828,937 | 2026-03-13 | 10-K | View Document | ||||||
| INFINITY NATURAL RESOURCES, INC. | holders of INR Units at the time of our initial public offering | holders of INR Units at the time; accelerating the payment due under our Tax Receivable Agreement | ['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 and research and development credit carryforwards | equity holders of Holdings and holders of Class P Units | 85% | 100 basis points above SOFR | does not anticipate recording the TRA liability; net operating loss carryforwards and research and development; equity holders of Holdings and Class P Units; 85% of certain tax savings; 100 basis points above SOFR | ['Early termination liability estimated at $261.0 million.'] | 2,086,587 | 2026-05-15 | 10-Q | View Document | 85% | ||
| Clearwater Analytics Holdings, Inc. | Enfusion, Inc. | Payment to terminate Enfusion’s tax receivable agreement | ["Text mentions $30M payment 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; 403,022 Class A shares issued to parties.'] | 1,856,031 | 2026-03-12 | 10-K | View Document | ||||||
| OneStream, Inc. | Basis Adjustments; tax benefits attributable to TRA payments | KKR, Continuing Members, and certain Former Members | 85% | 85% of the amount of tax benefits; KKR and other Continuing Members; Basis Adjustments; tax benefits attributable to payments made | [] | 1,889,956 | 2026-03-31 | 10-K/A | View Document | 85% | |||
| Alchemy Investments Acquisition Corp 1 | Tax basis adjustments from TRA Exchanges, tax benefits from TRA payments, imputed interest | Certain Cartiga Members (TRA Holders) | 85% | 85% of the cash tax benefits; certain Cartiga Members (the 'TRA Holders'); tax basis adjustments resulting from TRA Exchanges; tax benefits attributable to making payments; accrue interest until paid | ['Payments accelerate if more than three months late.'] | 1,901,336 | 2026-05-21 | 10-Q | View Document | 85% | |||
| Alchemy Investments Acquisition Corp 1 | tax basis adjustments from TRA Exchanges; Section 754 election | Pubco and 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 | Obligations accelerate upon change of control or early termination. | 1,901,336 | 2026-04-30 | 10-K/A | View Document | 85% | |||
| Purple Innovation, Inc. | Tax basis increases in Purple LLC assets; imputed interest; additional basis from payments | InnoHold | 80% | 80% of the net cash savings; tax basis increases in the assets; InnoHold; imputed interest deemed to be paid | ['TRA share is 80%.'] | 1,643,953 | 2026-04-28 | 10-Q | View Document | 80% | |||
| EGH Acquisition Corp. | increases in tax basis; certain other tax benefits | the Parent (the “TRA Holder”) | 85% | pay the TRA Holder 85%; increases in tax basis; certain other tax benefits; exchanges of Parent Hecate Units; the Parent (in such capacity, 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, the Company and certain Events.com shareholders | 85% | pay certain Events.com stockholders 85%; utilization of Events.com’s pre-closing tax attributes; Events.com, the Company and certain Events.com shareholders | ['TRA involves utilization of pre-closing tax attributes.'] | 1,851,959 | 2026-03-25 | 10-K | View Document | 85% | |||
| System1, Inc. | no amounts due; no payments were made | ['Full valuation allowance on deferred tax assets.'] | 1,805,833 | 2026-05-12 | 10-Q | View Document | |||||||
| Stagwell Inc | taxable exchanges of equity interests and related tax basis adjustments | certain members or former members of the Company; direct or indirect parent 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 lacks specific TRA terms.'] | 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 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 | 2026-05-01 | 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 | benefits realized as a result of certain transactions; emergence of our predecessor from reorganization; no material TRA payments | ['No material TRA payments expected in next 12 months.'] | 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 from Pre-Closing Restructuring; tax benefits from TRA entry and payments. | Eve Holding, Inc., EAH (Embraer Aircraft Holding, Inc.) | 75% | pay to EAH 75% of tax savings; increases in tax basis in the assets; resulting from the Pre-Closing Restructuring; tax benefits attributable to payments under the TRA; unpaid amounts will be deferred and accrue interest | ['TRA share is 75%.', 'TRA effectuated upon 2025 tax deconsolidation.'] | 1,823,652 | 2026-03-16 | 10-K | View Document | 75% | |||
| Alchemy Investments Acquisition Corp 1 | tax basis adjustments, Section 754, depreciation and amortization, tax benefits from TRA payments, imputed interest | 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'); 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 | Nextracker, Flex and TPG | 85% | Nextracker entered into a Tax Receivable Agreement; 85% of the tax benefits; Flex and TPG; tax benefits realized in relation to the IPO; $20 million was received under the Nextracker TRA | ['Flex is the beneficiary; Nextracker is the payer.'] | 866,374 | 2026-05-20 | 10-K | View Document | 85% |