Company: BWNB
Filing Date: 2025-04-11
Form Type: PRE 14A
Source: 0001104659-25-034242
Chunk: 9

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-04-11
Form: PRE 14A
Chunk 9
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 TABLE OF CONTENTS IF PROPOSAL 1 IS APPROVED, THE ELECTION OF JOSEPH A. TATO AND KENNETH M. YOUNG AS CLASS I DIRECTORS OF THE COMPANY FOR A TERM OF TWO YEARS (PROPOSAL 2) If Proposal 1 is approved and our board is re-classified, stockholders will vote to elect two directors to hold office for a two-year term expiring at the 2027 annual meeting of stockholders. In such event, the Board has recommended each of Joseph A. Tato and Kenneth M. Young for election as Class I directors under the transitional two-class structure described in Proposal 1 above, to serve until the 2027 annual meeting of stockholders or until his successor is duly elected and qualified or until his earlier death, resignation or removal. Both individuals currently serve as Class I directors under our current class structure, whose terms expire at the Annual Meeting. Each of Mr. Tato and Mr. Young have agreed to serve if elected. The Board has nominated these directors following the recommendation of the Governance Committee. Information regarding the director nominees is set forth below under the heading “Information Regarding Directors and Director Nominees.” Recommendation and Vote Required The Board recommends that stockholders vote “FOR” the election of each of Joseph A. Tato and Kenneth M. Young. You may vote “FOR” both director nominees or withhold your vote for any or both of the director nominees. Subject to our majority voting requirements described below, director nominees are elected by a plurality of the votes cast by the shares of our common stock entitled to vote in the election of directors at a meeting of stockholders at which a quorum is present. Withheld votes and broker non-votes will not be counted as votes cast. As a result, withheld votes and broker non-votes will have no effect on the election of directors. This means that the two director nominees who receive the most “FOR” votes (among votes properly cast in person or by proxy) will be elected. However, under our bylaws, any nominee for director is required to submit an irrevocable contingent resignation that will be effective if the majority of votes cast with respect to the director's election are not voted "FOR" his or her election. If a nominee for director does not receive a majority of the votes cast “FOR” his or her election, the Board will act on an expedited basis to determine whether to accept the resignation. We refer to this process herein as the “majority voting