Company: BKR
Filing Date: 2025-03-31
Form Type: DEF 14A
Source: 0001193125-25-067674
Chunk: 49

Company: Baker Hughes Co
Filing Date: 2025-03-31
Form: DEF 14A
Chunk 49
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 NOV Inc.   Occidental Petroleum Corporation   PACCAR Inc.   Parker-Hannifin Corporation   Schlumberger Limited   TechnipFMC plc   Textron Inc. |
| Used to identify and compare executive pay practices such as pay mix, levels and magnitude, competitiveness, prevalence of long-term incentive vehicles, and pay-for-performance plans. |     |                                                                                                                                                                                                                                                         |     |                                                                                                                                                                               |

The Human Capital and Compensation Committee considers executive compensation at these companies as just one among several factors in setting pay. The Committee uses the comparative data as a reference point in exercising judgment about compensation types and amounts, generally referencing the median of the appropriate peer group. The use of Reference Group proxy data and published survey data in both the general industry and the energy industry satisfies the need for both statistical validity and industry factors. The Reference Group data is used to assess the competitive market value for executive jobs, assess pay practices, validate targets for pay plans, test the compensation strategy, observe trends, and provide a general competitive backdrop for decision making. Performance “Peer Group” The Human Capital and Compensation Committee assesses the Company’s long-term performance in part through PSUs based on the companies in the OSX index (plus TechnipFMC) each year to align with the wider portfolio of Baker Hughes. Because of the technical nature of the industry, cyclical nature of the markets, high labor needs, capital requirements, and changing portfolio, for the PSU awards in 2024, the Human Capital and Compensation Committee believed the oilfield service companies in the OSX index, TechnipFMC and S&P 500 Industrials index (median performing company) provided the best competitive comparison for benchmarking performance over the long-term and competing for similar shareholder investments. The FCF conversion metric is measured against the OSX index and TechnipFMC, and the TSR modifier is measured against OSX Index, TechnipFMC and S&P 500 Industrials index (median performing company).

| 45 |

#### Executive CompensationThe Committee reviews this peer group at least annually, including to consider whether this peer group should evolve over time in conjunction with a shifting portfolio.Performance Peer GroupCactus, Inc.ChampionX CorporationCore Laboratories N.V.Dril-Quip Inc.Golar LNG LimitedHalliburton CompanyHelmerich & Payne, Inc.Nabors Industries Ltd.NOV, Inc.Oceaneering International, Inc.Oil States International, Inc.Schlumberger LimitedTechnipFMC plcTransocean Ltd.USA Compression Partners LPWeatherford International