CHARITY ANDERSEN INS & FINANCIAL

RS limitations, and the Company matched the participants’ contribution up to 25 % of the first 6 % of each participant’s contribution (or 1.5 % of their total compensation). Total matching contributions made to the 401(k) Plan during 2025, 2024, and 2023 was $ 5.1 million, $ 4.2 million, and $ 3.2 million respectively. The related expense is recognized as either cost of services or sales, general, and administrative expense based on the nature of service of eligible employees. Note 11. Leases The Company maintains operating lease agreements for office leases with various expiration dates through June 2038. These leases require monthly lease payments that may be subject to annual increases throughout the lease term. Certain of these leases also include options to extend or terminate the lea

Compensation—Prior to the IPO and Reorganization Transactions” to our audited consolidated financial statements included in Part II, Item 8 of this Annual Report. These units were fully vested upon issuance and therefore a one-time expense was recognized in 2025. We recognized $104.5 million of non-cash equity-based compensation expense associated with pre-IPO profits interest units in cost of services and $32.0 million in sales, general and administrative expense during the year ended December 31, 2025. 55 (3) Equity-based compensation expense associated with the vesting of Class X Aggregator Units consists of non-cash expenses associated with the vesting of Class X Aggregator Units, which were part of the Reorganization Transactions and described in Note 14, “Equity-based Compensation—Su

ntive compensation, and sub-consultant costs, software costs and an allocation of non-personnel costs such as occupancy costs. Sales, General and Administrative Sales, general and administrative expenses primarily consist of personnel costs such as wages, equity-based compensation, benefits and incentive compensation related to support and administrative functions, and non-personnel costs such as professional fees, business development, occupancy, advertising, recruiting and training costs. 58 Equity Restructuring Costs In the fourth quarter of 2025, we incurred a one-time equity restructuring expense of $162.3 million as a result of the exchange of historical equity interests at the Management Holdcos for new Class H Aggregator Units. The new Class H Aggregator Units include a higher inco