Company: HLX
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001140361-25-011655
Chunk: 59

Company: HELIX ENERGY SOLUTIONS GROUP INC
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 59
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) | This column shows the target amount of cash payable to our named executive officers under our 2024 STI program. For more information regarding our STI program, including the performance targets used for 2024, see “Compensation Discussion and Analysis – 2024 Executive Compensation Components – Short-Term Cash Incentive Program.” |

| (2) | These columns show the estimated units payable with respect to the 2024 PSU awards made under our 2005 Long Term Incentive Plan. The 2024 PSU awards are payable in either cash or shares of our common stock upon vesting at the discretion of the Compensation Committee, and are subject to a three-year cliff-vesting period. The number of units earned is contingent on Helix’s performance in terms of TSR and Free Cash Flow. For the TSR portion, the TSR performance threshold is the 25th percentile of the 2024 Performance Peer Group (the attainment below which will yield a payout equal to 0%), performance target level is a TSR at the 55th percentile (the attainment of which will yield a payout equal to 100% or “target”), and the maximum performance level is a TSR at or above the 80th percentile (the attainment of which will yield a payout equal to 200%). Payout for TSR performance between these percentiles is calculated by linear interpolation. For the Free Cash Flow portion, in the event Helix does not generate a cumulative Free Cash Flow of greater than $275 million during the three-year performance period, no payout will be made. In the event Helix generates a cumulative Free Cash Flow of $375 million during the performance period, payout will equal 100% or “target.” In the event Helix generates a cumulative Free Cash Flow of $475 million or greater during the performance period, payout will equal 200%. Payout for Free Cash Flow performance between these amounts is calculated by linear interpolation. The threshold column shows the minimum attainment that would generate a payout, which would be comprised of TSR at the 25th percentile and cumulative Free Cash Flow less than $275 million. For more information regarding the PSU awards, see “Compensation, Discussion and Analysis – 2024 Executive Compensation Components – 2024 PSU Awards.” |

| (3) | This column shows the number of time-vesting RSUs granted in 2024 to the named executive officers under our 2005 Long Term Incentive Plan. RSUs granted in 2024 are payable in either cash or shares of our