Company: BWXT
Filing Date: 2025-03-06
Form Type: PRE 14A
Source: 0001486957-25-000011
Chunk: 55

Company: BWX Technologies, Inc.
Filing Date: 2025-03-06
Form: PRE 14A
Chunk 55
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 units are settled into shares of BWXT common stock. The amount of performance restricted stock units that vest, if any, is determined based (1) 40% on the Company’s cumulative adjusted EBITDA during the three-year performance period; (2) 40% on the Company’s average annual ROIC during the same period; and (3) 20% on the relative TSR during the same period. We withhold a portion of these shares to satisfy the required withholding tax for each Named Executive due on vesting. The amounts shown in the “target” column represent the number of performance restricted stock units that will vest, which is 100% of the amount granted, if the target levels of cumulative adjusted EBITDA, average annual ROIC and relative TSR are attained. The amounts shown in the “maximum” column represent the number of performance restricted stock units that will vest, which is 200% of the amount granted, if the maximum level of cumulative adjusted EBITDA, average annual ROIC and relative TSR are attained. The amounts shown in the “threshold” column represent the minimum number of performance restricted stock units that will vest, which is 50% of the amount granted, if the threshold level of cumulative adjusted EBITDA, average annual ROIC and relative TSR are attained. No amount of performance restricted stock units will vest if the levels of all three such performance metrics are less than the threshold performance level. See “Compensation Discussion and Analysis — Compensation Analysis — Long-Term Incentive Compensation” above for more information regarding the performance restricted stock units.

#### Special Performance Grant for Adm. McCoy
The amounts shown reflect the threshold, target and maximum payout opportunities of performance restricted stock units granted to Adm. McCoy in 2024 under the 2020 Plan expressly issued to incent the completion of the five strategic objectives specific to the Government Operations unit led by Adm. McCoy over a 27-month performance period. This grant represents a right to receive one share of BWXT common stock if performance targets are met. Upon vesting, the performance restricted stock units are settled into shares of BWXT common stock. The amount of performance restricted stock units that vest, if any, is determined based on (1) 20% on the on-time performance with respect to aspects of BWXT's commitments under the Project PELE Mobile Nuclear Reactor; (2) 20% on the on-time performance with respect to aspects of BWXT's commitments under the DRACO program; (3) 20%