Company: BWNB
Filing Date: 2025-04-21
Form Type: DEF 14A
Source: 0001104659-25-036850
Chunk: 15

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-04-21
Form: DEF 14A
Chunk 15
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.babcock.com at “About B&W — Corporate — Investors — Corporate Governance” and contains the following documents: Amended and Restated Bylaws Corporate Governance Principles Code of Business Conduct Code of Ethics for Chief Executive Officer and Senior Financial Officers Audit and Finance Committee Charter Compensation Committee Charter Governance Committee Charter Related Party Transactions Committee Charter Conflict Minerals Policy Related Party Transactions Policy Modern Slavery Transparency Statement Tax Strategy Statement Director Independence The New York Stock Exchange (“NYSE”) listing standards require the Board to consist of at least a majority of independent directors, and our Corporate Governance Principles require the Board to consist of at least a majority of independent directors and at least 66% of independent directors who satisfy all NYSE listing standards for independence other than Section 303A.02(b)(iv) of the NYSE listed company manual. For a director to be considered independent, the Board must determine that the director does not have any direct or indirect material relationship with us. The Board has established categorical standards, which conform to the independence requirements in the NYSE listing standards, to assist it in determining director independence. These standards are contained in the Corporate Governance Principles found on our website at www.babcock.com under “About B&W — Corporate — Investors — Corporate Governance — Governance Documents.” Based on these independence standards, the Board has determined that each of Naomi L. Boness, Alan B. Howe, Philip D. Moeller, Rebecca L. Stahl and Joseph A. Tato are independent and meet our categorical standards. Kenneth M. Young and Henry E. Bartoli have been determined to not be independent due to their employment and consulting relationships with the Company, respectively. In determining the independence of the directors, the Board considered transactions between us and other entities with which each of our directors are associated, including B. Riley, a significant stockholder of the Company. Those transactions are described below, as well as the related party transactions described under “Certain Relationships and Related Transactions” in this proxy statement. None of these transactions was determined to constitute a material relationship with us with respect to any director determined to be independent. B. Riley also entered into a consulting agreement with us from November 19, 2018 until September 20, 2024 in connection with Mr. Young’s service as our Chief Executive Officer. 9 TABLE OF CONTENTS Board Function, Leadership Structure and Executive Sessions The Board oversees, counsels and directs management in the long-term interest of us and our stockholders. The Board’s responsibilities include: • overseeing the conduct of our business and assessing our