Company: HLX
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001140361-25-011655
Chunk: 54

Company: HELIX ENERGY SOLUTIONS GROUP INC
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 54
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 benefits in the event of a change of control.

| Helix Energy Solutions Group, Inc. |     | 2025 Proxy Statement |     | 51 |

TABLE OF CONTENTS Compensation Discussion and Analysis Looking Ahead Market Outlook As discussed above, we continue to see oil and gas companies invest in long-cycle offshore exploration projects in addition to maintaining and/or increasing production from their existing reserves, we believe the demand for P&A services should grow over the mid- to long-term, and we expect growth in our renewables services. Although we believe the current oil and gas pricing warrants continued customer spending for the industry, higher levels of economic and industry uncertainty may temper such customer spending. We feel we have positioned ourselves well with strong operational performance and prudent balance sheet management, and we remain optimistic about our future prospects. 2025 Compensation Program For 2025, each element of our executive compensation program—base salaries, target and maximum STI percentages, and long-term incentive award—for Messrs. Kratz and Sparks remains the same as it was for 2024. The 2025 base salaries for Messrs. Staffeldt and Neikirk and the long-term incentive award for Mr. Staffeldt have increased, while their respective target and maximum STI percentages remain the same as they were for 2024. We believe the 2025 levels of executive compensation will continue to serve to motivate and retain the key talent needed to drive the Company’s long-term success. Our 2025 STI program for executive officers continues to be based primarily on Adjusted EBITDA, as the Compensation Committee continues to view this financial performance metric as the Company’s most important near-term business driver as reflective of utilization, rates and cost management. For 2025 the Compensation Committee maintained the high financial performance thresholds at which payouts are earned, paying 25% of STI target upon achievement of the Company’s Board-approved 2025 budget, and requiring the Company to significantly exceed budget in order to achieve payout levels at target or greater. We have also retained Sustainability-related KPIs in our 2025 STI program as drivers for positive behaviors designed to enhance shareholder value, and our executive STI program for 2025 also contains an adjustment factor specific to the performance of the Helix Alliance business, wherein executive STI levels may be adjusted downward if certain financial goals are not met. For 2025 the Compensation Committee continues the bifurcated approach of utilizing a benchmarking peer group for purposes of compensation comparators and a performance peer group for purposes