Company: BWXT
Filing Date: 2025-05-12
Form Type: 8-K
Source: 0001104659-25-047051
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Company: BWX Technologies, Inc.
Filing Date: 2025-05-12
Form: 8-K
Item: Item 5.02
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Item 5.02      Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.  

On May 12, 2025, BWX Technologies, Inc. (“ BWXT” or the
“ Company”) announced that Robb A. LeMasters, Executive Vice President and Chief Financial Officer (“ CFO”), has
stepped down as CFO. Mr. LeMasters decision is not related to any financial or accounting issue or any disagreement with the Company or
any matter relating to its operation, policies or practices. He will continue with the Company as Special Advisor to the Chief Executive
Officer (“ CEO”) to assist with the transition.

The Company and Mr. LeMasters entered into a Transition Agreement (“ Agreement”)
on May 11, 2025, which provides that Mr. LeMasters will (i) continue to receive his current salary in his role as Special Advisor to the
CEO through March 2, 2026 (“ Separation Date”), totaling $494,795; (ii) not participate in the Company’s annual incentive
plan for 2025; (iii) not participate in the 2026 annual or long-term incentive plans; (iv) receive a cash retention bonus of $105,205
and certain benefit payments on or after the Separation Date, provided that he executes and does not revoke a release of claims against
the Company and that he remains employed with the Company through the Separation Date; and (v) continued participation in certain of our
employee benefit plans (subject to the terms and conditions of such plans). Equity awards previously granted to Mr. LeMasters will continue
to vest upon the terms set forth in the respective award agreements.

On May 9, 2025, the Company’s Board of Directors (“ Board”)
unanimously appointed Michael T. Fitzgerald to succeed Mr. LeMasters as the Company’s Interim Senior Vice President and CFO, effective
May 12, 2025. Mr. Fitzgerald has served as Vice President, Finance and Chief Accounting Officer since September and October, 2021, respectively.
Mr. Fitzgerald, 41, previously led the Aerospace & Defense Practice at MorganFranklin Consulting, LLC, a management advisory firm
specializing in technical accounting, financial reporting and related matters since 2018. Prior to that, he served as Audit Senior Manager
at Deloitte & Touche LLP from 2012 to 2018