Company: BKR
Filing Date: 2025-03-31
Form Type: DEF 14A
Source: 0001193125-25-067674
Chunk: 40

Company: Baker Hughes Co
Filing Date: 2025-03-31
Form: DEF 14A
Chunk 40
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 shareholders to engage with the team on Baker Hughes’ strategy, sustainability program, governance structure, and key executive compensation practices and to listen to their feedback and priorities. We believe that by engaging with our shareholders, we can further align our compensation objectives with shareholders’ long-term interests. Total direct compensation for NEOs We use market-standard compensation elements of base salary, annual short-term incentives, long-term incentives, and employee benefits to deliver both attractive and competitive rewards to our executives. Collectively, these elements comprise total direct compensation. We benchmark both compensation and Company performance in evaluating the appropriateness of our pay practices. Our executive pay decisions are made by the Human Capital and Compensation Committee of our Board and reviewed with the full Board. Our CEO assists the Human Capital and Compensation Committee in reviewing compensation paid to our NEOs but does not participate in discussions regarding his own compensation. 2024 Target total direct compensation Our executive compensation program emphasizes performance-based compensation tied to increases in Baker Hughes stock price and drives strategic imperatives. Approximately 90% of Mr. Simonelli’s target total compensation is performance-based and at risk, while the other NEOs have an average of 79% performance-based and at-riskcompensation. Our NEOs’ target compensation for 2024 consisted of the components described below: *ROIC is defined as: Net Operating Profit after tax / (non-cashnet working capital + Property Plant & Equipment + Goodwill + Intangibles)

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Executive Compensation Base salaries The Human Capital and Compensation Committee references compensation data for the Reference Group (as described below) for determining the appropriate positioning of base salaries of our executive officers. Typically, when considering an adjustment to an NEO’s base salary, the Human Capital and Compensation Committee reviews the market data and evaluates the NEO’s position relative to the market, his or her level of responsibility, experience, internal placement, and overall performance. The Human Capital and Compensation Committee also considers the NEO’s success in achieving business objectives, promoting our values and keys to success, improving health and safety, demonstrating leadership, and achieving specific individual performance goals. In determining global salary budgets, the Human Capital and Compensation Committee also considers the financial performance of the Company and effective execution of the strategy approved by our Board. The Committee approved the following NEO base salary adjustments in 2024 to align with desired external and internal positioning:

| Name                                                        |     | 2023 Salary |     | 2024 Salary |
| Lorenzo Simonelli                                           
 Chairman, President and CEO                                 |     |  $1,620