Company: HLX
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001140361-25-011655
Chunk: 47

Company: HELIX ENERGY SOLUTIONS GROUP INC
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 47
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 and is based in equal parts on our (a) TSR compared to that of a performance peer group and (b) generation of Free Cash Flow compared to a pre-established benchmark, in each case over a three-year performance period; and (2) 50% in the form of a time-vesting RSU award. PSUs and RSUs granted in 2024 are payable in either stock, cash or a combination thereof, in the discretion of the Compensation Committee and subject to the terms and conditions of our Plan. In December 2023 the Compensation Committee determined, in consultation with WTW and supported by market data of our 2024 Benchmarking Peer Group, that the target values of the 2024 long-term incentive awards for each of our NEOs would remain the same as they were in 2023. Set forth below are the long-term incentive awards granted in January 2024 to each of our NEOs:

| 2024 Long-Term Incentive Awards |     |            |     |            |     |                |
| Named Executive Officer         |     | PSU Awards 
   in units 
      (50%) |     | RSU Awards 
   in units 
      (50%) |     | Total Value of 
     LTI Awards 
     in dollars |
| Mr. Kratz                       |     |    175,097 |     |    175,097 |     |     $3,600,000 |
| Mr. Sparks                      |     |     66,877 |     |     66,877 |     |     $1,375,000 |
| Mr. Staffeldt                   |     |     63,230 |     |     63,230 |     |     $1,300,000 |
| Mr. Neikirk                     |     |     46,206 |     |     46,206 |     |       $950,000 |

2024 PSU Awards In January 2024, each NEO received a PSU award pursuant to our Plan. Each unit represents the contingent right to receive either (a) one share of our common stock or (b) cash representing the fair market value of one share of our common stock, at the end of a three-year period based equally on our TSR relative to that of a performance peer group and our Free Cash Flow compared to a pre-established benchmark, subject to the terms and conditions of our Plan. The minimum payout that may be achieved at vesting is 0% of the number of