Company: BKR
Filing Date: 2025-03-31
Form Type: DEF 14A
Source: 0001193125-25-067674
Chunk: 38

Company: Baker Hughes Co
Filing Date: 2025-03-31
Form: DEF 14A
Chunk 38
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59 |
| Additional compensation program features and policies |     | 47 |     | Pay versus Performance                                                        |     | 60 |
| Human Capital and Compensation Committee report       |     | 48 |     | Human Capital and Compensation Committee interlocks and insider participation |     | 64 |
| Summary compensation table                            |     | 49 |     |                                                                               |     |    |

Executive summary The purpose of our rewards strategy is to attract and align the executive talent needed to execute on the Company’s financial and strategic priorities. We aim to create strong linkages between pay and performance and reward our executives for achieving both short and long-term results. Aligning Executive Compensation with Strategy and Performance To deliver on our commitment to create shareholder value, the objectives of our executive compensation programs are to:

| Align the compensation and interests of our executives with the long-term interests of our shareholders |     | Provide a significant portion of total compensation that is performance-based and at risk |     | Attract, retain, and engage top caliber talent to execute our strategic priorities |

Background and Market Context Baker Hughes is a world-leading energy technology company with a broad and diversified portfolio focused on providing solutions to help solve the world’s greatest energy challenges. The macro backdrop against which we operated in 2024 continued to be a world grappling with challenges including economic uncertainty, geopolitical turmoil, and continued tightness in the aeroderivative supply chain. Despite these macro headwinds and recent volatility, Baker Hughes continued to deliver significant improvement across the company and in our financial results. In IET, we capitalized on market tailwinds to deliver substantial revenue growth, and we maintained significant growth in new energy and non-LNGequipment orders. In OFSE, we navigated an uneven market to deliver revenue growth. As our journey of transformation continues, we have made progress in our efforts to improve efficiencies and modernize how the business operates. We have undertaken

| 34  2025 Proxy Statement |

Executive Compensation significant structural changes across the company, realizing widening benefits from our transformation efforts which are visible in the margin performance. During the fourth quarter of 2024, we announced restructuring plans primarily focused on further streamlining of our OFSE operating model and right-sizingour workforce to match forecasted activity levels. To execute on changes in the way we lead and our leadership, the Human Capital and Compensation Committee made and approved a number of compensation-related decisions to support these transitions, as evident throughout this CD&A. The Committee feels strongly that these thoughtful and deliberate actions are both required and appropriate