Company: BWNB
Filing Date: 2025-04-11
Form Type: PRE 14A
Source: 0001104659-25-034242
Chunk: 25

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-04-11
Form: PRE 14A
Chunk 25
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 agreement (described below). Includes the grant date fair value (calculated as described in footnote (1)) of 30,000 restricted stock units granted on January 4, 2024 (with a grant date value of $33,600) and $211,650 paid in cash. Fees Earned or Paid in Cash Under our current director compensation program, which was recommended by the Compensation Committee and approved by the Board, non-employee directors are eligible to receive an annual retainer of $85,000, paid in quarterly installments and prorated for partial terms.

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TABLE OF CONTENTS The chairs of Board committees, and any Lead Independent Director or Independent Chairman of the Board, received additional annual retainers, paid in quarterly installments, as follows (prorated for partial terms): • the chair of the Audit and Finance Committee: $20,000; • the chair of each of the Compensation, Governance and Related Party Transactions Committees: $10,000; • the Lead Independent Director (if any): $20,000; and • the Independent Chairman (if any): $100,000. Stock Awards In addition to the cash retainers provided to our directors, our practice has been for each non-employee director to receive an annual award of restricted stock units, with the number of units determined by dividing $95,000 by the closing price of our common stock on the grant date, rounded down to the nearest whole share (with such amount to be prorated for partial terms). Each restricted stock unit award is scheduled to vest on the earlier of one year after the date of the grant, the first annual meeting of our stockholders that occurs following the grant, or a change in control of the Company. Under our 2021 LTIP, directors may elect to defer payment of all or a portion of their stock awards, but none of the directors elected to do so for 2024. Stock Ownership Guidelines Our Stock Ownership Guidelines require that each non-employee director own Company stock valued at five times the Company’s annual base retainer paid to the non-employee director or, if the non-employee director doesn’t satisfy such level of ownership, the non-employee director is required to hold (toward meeting the required level of ownership) at least half of the net shares acquired under any equity or equity-based award granted by the Company to the director. For this purpose, “net shares’ generally means the number of shares acquired by the non-employee director under the award after shares are sold or