Company: BWNB
Filing Date: 2025-04-21
Form Type: DEF 14A
Source: 0001104659-25-036850
Chunk: 48

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-04-21
Form: DEF 14A
Chunk 48
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 LLC); Jimmy B. Morgan- $300,000; Louis Salamone- $300,000; John J. Dziewisz- $300,000, and Christopher S. Riker- $100,000. Vesting of each NEO Retention Bonus is subject to the recipient’s employment with us through the applicable vesting date, with full vesting if the recipient’s employment is terminated without cause or due to the recipient’s death or disability. Vesting is scheduled to occur in 36 monthly installments beginning March 2022 and ending with February 2025. In March 2024, the Compensation Committee awarded special incentive bonuses with a retention component to Messrs. Young and Salamone in recognition of their contribution to the completion of the Company’s Senior Debt Refinancing in January 2024. The March 2024 retention bonuses granted to the NEOs were as follows: Kenneth M. Young- $300,000 (which was paid in September 2024 to OpenSky, LLC), and Louis Salamone- $300,000. Vesting of each March 2024 Retention Bonus is subject to the recipient’s employment with us through the applicable vesting date, with full vesting if the recipient’s employment is terminated without cause or due to the recipient’s death or disability. Vesting is scheduled to occur in 36 monthly installments beginning March 2024 and ending with February 2027. Upon Mr. Salamone’s resignation and in conjunction with the negotiations for Mr. Salamone to provide services to the Company pursuant to a consulting arrangement, effective December 31, 2024 the Company accelerated the vesting of this bonus. In November 2024, the Compensation Committee approved a retention bonus for Mr. Riker, in order to recognize his contributions to the company and to retain his services, in the amount of $425,000. Vesting of this retention bonus is subject to the Mr. Riker’s employment with us through the applicable vesting date, with full vesting if his employment is terminated without cause or due to his death or disability. Vesting is scheduled to occur in 36 monthly installments beginning December 2024 and ending with November 2027. BENEFITS To the extent they are eligible, NEOs may participate in our tax-qualified 401(k) plan and various health and welfare plans on the same basis as other eligible employees of the Company. The 401(k) plan includes a Company matching benefit up to