Company: HLX
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001140361-25-011655
Chunk: 39

Company: HELIX ENERGY SOLUTIONS GROUP INC
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 39
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 •Provides information on Helix’s short-term and long-term business and strategic objectives for consideration by the Compensation Committee in structuring the STI program and performance-based long-term incentive awards                                                                    
 •CEO provides the Compensation Committee a performance assessment of each executive officer other than himself                                                                                                                                                                                 |

| 40 |     | 2025 Proxy Statement |     | Helix Energy Solutions Group, Inc. |

TABLE OF CONTENTS Compensation Discussion and Analysis Competitive Benchmarking For 2024, the Compensation Committee retained WTW as its independent compensation consultant. The Compensation Committee determined that WTW is independent, based on information received from WTW including information responsive to the six specifically listed factors set forth in the U.S. Securities and Exchange Commission (“SEC”) and New York Stock Exchange (“NYSE”) rules requiring that compensation committees consider factors relevant to a consultant’s independence in connection with the consultant’s engagement. Given the complexities of Helix’s services, potential competitors and other special characteristics, we have bifurcated our compensation peer groups into (i) a customized Benchmarking Peer Group for purposes of compensation comparators and (ii) a Performance Peer Group for purposes of measuring the Company’s performance in connection with PSUs. This bifurcation allows the Compensation Committee to account for our unique business model while at the same time continuing to hold executives accountable for our relative performance against a broader set of industry-specific companies. For benchmarking purposes, the Compensation Committee compares the compensation for each element of pay (base salary, STI, target total cash, long-term incentives and target total direct compensation) for each NEO position to the compensation paid for similar positions by companies in our Benchmarking Peer Group, as set forth in those companies’ most recently available public disclosures. WTW proposes companies to be included in the Benchmarking Peer Group and the methodology for selecting that peer group, and consults with management to confirm that the most appropriate companies are selected, including from the perspective of similarity of business lines and competitors for talent. The Compensation Committee then reviews and approves the Benchmarking Peer Group for the applicable compensation year. In determining our Benchmarking Peer Group, we strive to define the market for our executive talent using a sizable group of companies that are comparable to us in both line of business and size. We operate purpose-built well intervention vessels and equipment, bespoke trenchers and other robotics assets, and a diverse asset base in connection with our shallow water decommissioning business including liftboats, offshore supply vessels, dive support vessels and a heavy lift derrick barge. Our operations