Company: BKR
Filing Date: 2025-03-31
Form Type: DEF 14A
Source: 0001193125-25-067674
Chunk: 19

Company: Baker Hughes Co
Filing Date: 2025-03-31
Form: DEF 14A
Chunk 19
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|                                       |     |                                                                                                                                                                                         | No pledging or hedging of Company stock by executive officers and directors   |
|                                       |     |                                                                                                                                                                                         | Significant stock ownership requirements for executive officers and directors |
|                                       |     |                                                                                                                                                                                         | Comprehensive director on-boarding program                                    |

Ownership structure The Company was formed in July 2017 as the result of a combination between Baker Hughes Incorporated (“BHI”) and the oil and gas business (“GE O&G”) of General Electric Company (“GE”) (the “Transactions”). As a result of the Transactions, substantially all of the business of GE O&G and BHI was transferred to a subsidiary of the Company, Baker Hughes Holdings LLC (“BHH LLC”). GE previously held its voting interest through our Class B Common Stock and its economic interest through a corresponding number of units of BHH LLC. In December 2022, GE exchanged all of its Class B Common Stock and equity interests representing its economic interests in BHH LLC for shares of our Common Stock. There were no shares of our Class B Common Stock outstanding as of December 31, 2022. Following the exchange and GE’s exit from its ownership position in the Company, the Stockholders Agreement (the “Stockholders Agreement”) between GE and the Company was terminated and in March 2023, the Board updated the Company’s governance documents, policies, and procedures to eliminate requirements relevant to the period when the Company was affiliated with GE, including those related to approval of related party transactions as discussed below. Board attendance During the fiscal year ended December 31, 2024, the Board held 6 meetings. Each director attended more than 80% of the total number of meetings of the Company’s Board and of the respective Committees on which he or she served. It is the Company’s policy to request and encourage all of the Company’s directors and nominees for election as directors to attend the Annual Meeting. Each director who was on the Board as of the time of the 2024 Annual Meeting attended the 2024 Annual Meeting.

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Corporate Governance Director independence The Board has adopted Governance Principles and charters for the Audit Committee, Human Capital and Compensation Committee and the Governance & Corporate Responsibility Committee that include independence requirements for directors to assist it in determining director independence. These requirements conform to the independence requirements set forth in Nasdaq listing standards and SEC rules. In addition to applying these requirements, the Board considers all relevant facts and circumstances in making an independence determination. The Board has determined that all the nominees for election