Company: BWXT
Filing Date: 2025-03-19
Form Type: 10-K/A
Source: 0001486957-25-000015
Chunk: 126

Company: BWX Technologies, Inc.
Filing Date: 2025-03-19
Form: 10-K/A
Chunk 126
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 in thousands):

|                                          |     | Number 
 of     
 Shares |      |     | Weighted-  
 Average    
 Grant Date 
 Fair Value |        |
|:-----------------------------------------|:----|:-------|-----:|:----|:-----------|-------:|
| Nonvested at beginning of period         |     |        |  520 |     | $          |  55.26 |
| Adjustment to assumed vesting percentage |     |        |   60 |     | $          |  85.07 |
| Granted                                  |     |        |  115 |     | $          | 113.51 |
| Vested                                   |     |        | -109 |     | $          |  59.38 |
| Cancelled/forfeited                      |     |        |  -11 |     | $          |  67.13 |
| Nonvested at end of period               |     |        |  575 |     | $          |  69.27 |

The actual number of shares in which each participant vests is contingent upon achievement of a mix of certain targets (depending on the grant year), including return on invested capital; earnings before interest, taxes, depreciation and amortization; total shareholder return and diluted earnings per share, over a three-year performance period. The number of shares in which participants can vest ranges from 0 to 200% of the initial performance shares granted, to be determined upon completion of the three-year performance period. The nonvested shares at the end of the period in the table above assumes weighted-average vesting of 144%.

The actual tax benefits realized related to the performance shares vested during the year ended December 31, 2024 totaled $1.4 million.

#### Cash-Settled Stock Appreciation Rights
As of December 31, 2024, we did not have any cash-settled stock appreciation rights outstanding.

#### Cash-Settled Restricted Stock Units
As of December 31, 2024, we had 456 nonvested units valued at $111.39 per share. The fair value is based on our closing stock price as of December 31, 2024 and is re-determined at the end of each reporting period for purposes of remeasuring compensation expense associated with these cash-settled awards.

#### Cash-Settled Performance Units
The actual number of units in which each participant vests is dependent upon achievement of certain return on invested capital and