Company: BWNB
Filing Date: 2025-04-11
Form Type: PRE 14A
Source: 0001104659-25-034242
Chunk: 44

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-04-11
Form: PRE 14A
Chunk 44
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,000 | ​ | ​ | ​ | ​                                         | $ | 525,000 | ​ | ​ | ​ | ​                  | ​ | 0% | ​ | ​ |
| ​ | Jimmy B. Morgan      | ​ | ​ | ​                                         | $ | 550,000 | ​ | ​ | ​ | ​                                         | $ | 550,000 | ​ | ​ | ​ | ​                  | ​ | 0% | ​ | ​ |
| ​ | Christopher S. Riker | ​ | ​ | ​                                         | $ | 425,000 | ​ | ​ | ​ | ​                                         | $ | 400,000 | ​ | ​ | ​ | ​                  | ​ | 6% | ​ | ​ |
| ​ | John J. Dziewisz     | ​ | ​ | ​                                         | $ | 450,000 | ​ | ​ | ​ | ​                                         | $ | 450,000 | ​ | ​ | ​ | ​                  | ​ | 0% | ​ | ​ |

The 2024 salary increases for our NEOs were approved by the Compensation Committee in its judgment, taking into account the factors noted above. As discussed above, Mr. Young received his annual salary from B. Riley Financial, Inc. and its affiliates and OpenSky, LLC for the period from January through November 2024, and Mr. Young was employed directly by us beginning December 1, 2024. ANNUAL CASH INCENTIVES The Compensation Committee believes that providing an annual cash incentive opportunity is an important element of any compensation program, which motivates management to achieve thoughtfully determined strategic objectives, including financial performance objectives. Annual Cash Incentive Plan Our NEOs were provided a performance bonus opportunity under our Annual Cash Incentive Plan (the “AIP”) for 2024. Adjusted EBITDA was selected as the only metric under the AIP for 2024 because of the importance that the Board and management placed on growing earnings.

33

TABLE OF CONTENTS Each NEO had a “target” bonus opportunity (expressed as a percentage of the NEO’s annual base salary) under the AIP. If the Company’s 2024 adjusted EBITDA (determined after taking into account the payment of bonuses) was at a “threshold”, “target” or “maximum” level of performance, 25%, 100%, 120%, respectively, of each NEO’s target bonus level would be paid, with payment determined on a