Company: HLX
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001140361-25-011655
Chunk: 50

Company: HELIX ENERGY SOLUTIONS GROUP INC
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 50
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 each of the RSU awards granted in 2022-2024. With respect to the cliff vesting of the 2022 PSU awards, our TSR ranked 3rd out of the 19 2022 PSU peer group companies, reflecting a 195% return over the three-year performance period. Additionally, the Company generated a cumulative $315 million of Free Cash Flow during the performance period. Each of these metrics achieved the maximum performance factor payable under the 2022 PSU award agreements. Therefore, in accordance with the terms of each such executive officer’s 2022 PSU Award Agreement, 200% of the awarded PSUs was earned by such executive officers. Other Compensation Program Features Tax Considerations The Compensation Committee and Helix management consider the accounting and tax impacts of various compensation elements when designing our executive compensation program and making other compensation decisions. These considerations, however, are secondary to meeting the overall objectives of our executive compensation program. Under Section 162(m) of the Internal Revenue Code of 1986, as amended, all compensation (other than certain grandfathered arrangements) paid to each “covered employee” (as defined in such Section) in excess of $1 million is non-deductible by Helix for U.S. federal income tax purposes. Although the Compensation Committee does consider the accounting and tax impacts of its compensation decisions, it may approve compensation in excess of the $1 million deduction limitation in order to maintain competitive levels of compensation for our executive officers. Tax deductibility does not drive the Compensation Committee’s compensation decisions, and as a result, certain compensation paid to our NEOs may not be deductible by Helix. The Compensation Committee will continue to take into account applicable facts and circumstances in exercising its business judgment with respect to executive compensation program design. Clawback Policies In connection with the final clawback rules adopted by the SEC under Section 10D and Rule 10D-1 of the Securities Exchange Act of 1934, as amended, and the listing standards set forth in the NYSE Listed Company Manual (the “Listing Standards”), in September 2023 the Board adopted a Mandatory Recoupment Policy. The Mandatory Recoupment Policy provides for the mandatory recovery of certain erroneously awarded incentive compensation from the Company’s current and former executive officers (including all NEOs) in the event the Company is required to prepare an accounting restatement as specified in such policy. Under the Mandatory Recoupment Policy, the Board may recoup erroneously awarded incentive compensation received within a lookback period of the three completed fiscal years