Company: HLX
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001140361-25-011655
Chunk: 49

Company: HELIX ENERGY SOLUTIONS GROUP INC
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 49
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 (1) | Member of 2023 Performance Peer Group |

| (2) | Member of 2022 Performance Peer Group |

| (3) | Member of 2021 Performance Peer Group |

With respect to the TSR portion of the 2024 PSU awards, the TSR formula is computed using our stock price as follows:

| * | Dividends, if any, paid over the performance period; Beginning Price being the average |

closing price of the last 20 trading days of 2023 and the Ending Price being the average closing price of the last 20 trading days of 2026. For the TSR portion of the 2024 PSU awards, the TSR performance threshold is the 25th percentile of the 2024 Performance Peer Group (the attainment of which will yield a payout equal to approximately 3.2%, and the attainment below which will yield a payout equal to 0%), performance target level is a TSR at or above the 55th percentile (the attainment of which will yield a payout equal to 100% or “target”), and the maximum performance level is a TSR at or above the 80th percentile (the attainment of which will yield a payout equal to 200%). Payout for TSR performance between these percentiles is calculated by linear interpolation. For the Free Cash Flow portion of the 2024 PSU awards, in the event the Company does not generate a cumulative Free Cash Flow of greater than $275 million during the three-year performance period, no payout will be made. In the event the Company generates a cumulative Free Cash Flow of $375 million during the performance period, payout will equal 100% or “target.” In the event the Company generates a cumulative Free Cash Flow of $475 million or greater during the performance period, payout will equal 200%. Payout for Free Cash Flow performance between these amounts is calculated by linear interpolation. 2024 Restricted Stock Unit Awards In January 2024, each NEO received a time-vesting RSU award pursuant to our Plan. The RSU awards vest over a three-year period in one-third increments on each anniversary of the grant date.

| 48 |     | 2025 Proxy Statement |     | Helix Energy Solutions Group, Inc. |

TABLE OF CONTENTS Compensation Discussion and Analysis

Payouts of Prior Long-Term Incentive Awards Our NEOs had long-term incentive awards that vested immediately after the end of 2024, including the cliff vesting of the 2022 PSU awards and annual vesting for