Company: BKR
Filing Date: 2025-03-31
Form Type: DEF 14A
Source: 0001193125-25-067674
Chunk: 65

Company: Baker Hughes Co
Filing Date: 2025-03-31
Form: DEF 14A
Chunk 65
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s incurred terminations of employment on December 31, 2024, the forms and amounts of any such payments or benefits would not have been enhanced and there would have been no vesting or other accelerations in connection with such terminations of employment, other than indicated in note (3) above with regards to Ms. Buese and Mr. Ramaswamy. As of December 31, 2024, all of our NEOs with the exception of Ms. Buese and Mr. Ramaswamy, had fully non-forfeitableinterests in any such pension benefits and nonqualified deferred compensation plan benefits without regard to the occurrence of their terminations of employment and/or a change in control.

| 58  2025 Proxy Statement |

Executive Compensation CEO pay ratio disclosure Provisions of the Dodd-Frank Act and regulations that were amended pursuant thereto (the “Pay Ratio Rule”) require U.S. public companies to disclose the ratio of their CEO’s compensation to that of their median employee. The Pay Ratio Rule permits a company to identify the “median employee” once every three years, so long as there have been no changes in the Company’s employee population or employee compensation arrangements that would result in a significant change to the Company’s pay ratio disclosure. Our ending fiscal year 2024 headcount remained comparable with our employee population over the previous fiscal period, and we did not undertake significant changes to executive or employee compensation arrangements during 2024. The median employee identified for the 2023 fiscal year pay ratio calculations had similar and consistent compensation during fiscal year 2024; therefore, the same median employee used for the fiscal year 2023 pay ratio calculations was used for the fiscal year 2024 pay ratio calculation, as permitted by the Pay Ratio Rule. We have estimated the median of the 2024 annual total compensation of our employees, excluding our CEO, to be $74,104. The 2024 annualized total compensation of our Chairman, CEO and President, Lorenzo Simonelli, was $19,897,221. The ratio of the annualized total compensation of Mr. Simonelli to the estimated median of the annual total compensation of our employees was 269 to 1. We believe this pay ratio is a reasonable estimate calculated in a manner consistent with SEC rules.

| 59 |

Executive Compensation

Pay versus Performance

In this section, we are including the required disclosure for pay versus performance as defined by the SEC for our principal execut iv e officer (“PEO”) and Non-