Company: BWNB
Filing Date: 2025-04-11
Form Type: PRE 14A
Source: 0001104659-25-034242
Chunk: 42

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-04-11
Form: PRE 14A
Chunk 42
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 their own compensation levels). Consultant to our Compensation Committee In 2024, we hired Willis Towers Watson (WTW) as an independent compensation consultant to: • Provide the Compensation Committee with information and advice on the design and structure of executive and director compensation; • Provide market survey data for comparative market analysis (competitive market data for the Compensation Committee’s executive compensation decisions is drawn from the WTW Executive Compensation Survey). The Committee considers the WTW Executive Compensation Survey generally, to inform its business judgment, does not set compensation levels at any particular benchmark level against the survey data, and considers the survey data generally without particular focus on any one specific company or group of specific companies included in the survey data; • Advise the Compensation Committee on external market factors and evolving compensation trends; and • Provide the Company assistance with regulatory compliance and changes regarding compensation matters. During 2024, management engaged WTW to perform other broad-based compensation and benefits consulting work for the Company. Although the Compensation Committee did not specifically approve these other engagements, the Compensation Committee has reviewed the other services provided by WTW and, after consideration of such services and other factors prescribed by the SEC for purposes of assessing the independence of compensation advisors, has determined that no conflicts of interest exist between the Company and WTW (or any individuals working on the Company’s account on WTW’s behalf). During 2024, WTW received $338,383 in fees for providing services to the Company for work other than with respect to executive and director compensation, and WTW received $41,623 for its services with respect to executive and director compensation. Plan Design and Risk Management We subscribe to a “pay-for-performance” philosophy. As such: Incentive Compensation Tied to Performance — Generally, our participating NEOs’ annual cash incentive compensation is “at risk,” with the value tied to the achievement of financial and other measures we consider important drivers of stockholder value. • Equity Incentive Compensation Subject to Forfeiture for Certain Acts — The Compensation Committee may generally terminate outstanding equity awards if the recipient (1) is convicted of a misdemeanor involving fraud, dishonesty or moral turpitude or a felony, or (2) engages in conduct that adversely affects or may reasonably be expected to adversely affect the business reputation or economic interests of the Company. • Annual and Equity Compensation Subject to Clawbacks — Incentive compensation awards include provisions allowing us to recover excess amounts in accordance with our clawback policy (discussed below). 32

TABLE OF CONTENTS

• Stock Ownership Guidelines — Our