Company: BWXT
Filing Date: 2025-03-06
Form Type: PRE 14A
Source: 0001486957-25-000011
Chunk: 32

Company: BWX Technologies, Inc.
Filing Date: 2025-03-06
Form: PRE 14A
Chunk 32
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 Reimbursements.                                                                                                                                                                                                                                
 üStock Ownership Requirements.We maintain robust requirements for our executive officers and directors.                                                                                                                                                                     
 üIndependent Compensation Consultant.                                                                                                                                                                                                                                       |     | XNo Hedging or Pledging.We do not permit hedging or pledging of our securities by our executive officers and directors.                                                                                                                  
 XNo Excise Tax Gross-ups.There are no tax gross-ups on change-in-control benefits.                                                                                                                                                       
 XNo Employment Agreements for our Executive Officers.                                                                                                                                                                                    
 XNo Excessive Risk-Taking in Incentive Compensation.Our annual and long-term incentive programs use multiple performance metrics and capped pay-outs and other features intended to minimize the incentive to take overly risky actions. 
 XNo Guaranteed Minimum Pay-out for our Annual or Long-term Performance-based Awards.                                                                                                                                                     |

#### 2025 PROXY STATEMENT23
| COMPENSATION DISCUSSION AND ANALYSIS |

#### 2024 EXECUTIVE COMPENSATION PLAN DESIGN
Following a comprehensive review of our executive compensation program with Exequity, our executive compensation consultant, we made the following refinements to the 2024 executive compensation program: (i) changed the operating cash flow metric in our short-term incentive plan to free cash flow, and established its weighting at 25% from 20%; (ii) established previously-used safety metrics consisting of Total Recordable Incident Rate ("TRIR") and Days Away, Restricted or Transferred ("DART") as standalone measures within our short-term incentive plan with an aggregate weighting of 5%; and (iii) established an individual performance modifier that can be applied to the formulaic financial and safety calculated payout percentage so long as total payouts do not exceed 200% of an individual's target award value. The following are some of the key design attributes and components of BWXT's 2024 incentive program.

| 2024 Executive Compensation Plan Design Overview |     |                                                                                                                                                                                                                                                                                                                                                                                      |
| Pay Philosophy                                   |     | Base salary, annual incentive and long-term incentive compensation designed to attract and retain leadership talent and incent a strong focus on operating results and alignment with stockholder interests.                                                                                                                                                                         |
| Annual Incentive Program                         |     | 95% financial performance (70% operating income and 25% free cash flow) and 5% safety performance, with the potential for individual performance adjustments. Maximum bonus payouts are capped at 200% of an individual's target bonus amount. Both Company and individual performance objectives are established at the beginning of the annual performance period.                 |
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