Company: HLX
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001140361-25-011655
Chunk: 74

Company: HELIX ENERGY SOLUTIONS GROUP INC
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 74
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, the average of Compensation Actually Paid to our other Non-PEO NEOs, and our Adjusted EBITDA during the five most recently completed fiscal years. (1) “Adjusted EBITDA is a non-GAAP financial measure. For a reconciliation of Adjusted EBITDA to reported net income (loss), see “Non-GAAP Financial Measures” on pages 36-37 of our 2024 Annual Report.” Options We provide the following discussion of option awards as required by Item 402(x) of Regulation S-K. Option awards are not currently a part of the Company’s executive compensation program and no option awards were granted to NEOs during the year ended December 31, 2024.

| Helix Energy Solutions Group, Inc. |     | 2025 Proxy Statement |     | 71 |

TABLE OF CONTENTS

Proposal 3: Advisory Vote on the Approval of the 2024 Compensation of Our Named Executive Officers Helix is seeking an advisory shareholder vote on the approval of the 2024 compensation of our named executive officers (commonly referred to as Say on Pay). This vote is non-binding. The Compensation Committee, however, will review the voting results and take them into consideration when making future compensation decisions for our named executive officers. As described in detail under “Compensation Discussion and Analysis” beginning on page 34, our compensation programs are designed to attract, retain and motivate executive officers who can develop and execute our business strategy in a way that maximizes value for our shareholders through a range of business cycles, and to align the economic interests of our executive officers with those of our shareholders over the full range of those cycles. Shareholders are encouraged to read the Compensation Discussion and Analysis, the accompanying compensation tables and the related narrative disclosure to better understand the compensation of our named executive officers. In deciding how to vote on this proposal, the Board urges you to consider the following factors, which are more fully described in the Compensation Discussion and Analysis. For 2024 compensation, the Compensation Committee continued to:

| • | Establish an appropriate Benchmarking Peer Group and pay our NEOs at competitive market levels, with an opportunity to earn greater overall compensation if warranted by our performance; |

| • | Maintain an STI program based on both stretch Adjusted EBITDA goals and a balanced scorecard of Sustainability metrics; |

| • | Approve a long-term incentive program tied to the performance of our common stock and other financial metrics; |

| • | Measure PSU award payouts based on our stock performance as compared