Company: BKR
Filing Date: 2025-03-31
Form Type: DEF 14A
Source: 0001193125-25-067674
Chunk: 29

Company: Baker Hughes Co
Filing Date: 2025-03-31
Form: DEF 14A
Chunk 29
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7,500 |

Director deferral plan Under the Baker Hughes Non-EmployeeDirector Deferral Plan (the “Deferral Plan”), non-employeedirectors may elect to receive their annual retainers and committee fees in shares of Common Stock, with the shares delivered either in the year in which the retainers otherwise would have been paid or in a future year. If directors defer the receipt of these shares of Common Stock, they will instead receive Deferred Stock Units (“DSUs”) which represent the right to receive the equivalent number of shares of Common Stock when the deferral period ends. The number of shares of Common Stock received in lieu of the fees is determined by dividing the amount of the retainer earned for that year by the average closing price of a share on each date on which the retainer for that year otherwise would have been paid. Directors may also elect to defer receipt of the shares covered by their RSU awards, which otherwise are delivered when the awards vest.

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Director Compensation Directors receive dividend equivalents on their DSUs. These dividend equivalents are paid in cash currently with the payment of the dividend to other shareholders. Effective May 22, 2024, we amended and restated the Deferral Plan (the “Amended Deferral Plan”), but for 2024, all directors other than Shirley A. Edwards (who was appointed during 2024) continued to participate in the Deferral Plan as described above. Beginning in 2025 (or 2024 with respect to Ms. Edwards), under the Amended Deferral Plan, annual retainers and committee fees that are deferred in the form of DSUs are settled in shares of Common Stock once the director ceases to serve on the Board. The number of shares of Common Stock received in lieu of the fees is determined by dividing the amount of the retainer earned for that year by the average closing price of a share on each date on which the retainer for that year otherwise would have been paid. Additionally, the Amended Deferral Plan provides that all RSU awards will be deferred as DSUs and settled in shares of Common Stock once the director ceases to serve on the Board. Under the Amended Deferral Plan, dividend equivalents on awards granted beginning in 2025 (or 2024 with respect to Ms. Edwards) are accrued on DSUs quarterly and credited in the form of additional DSUs, settled in shares when the director ceases to serve on the Board and dividend equivalents on awards granted to directors other than Ms. Edwards prior to