Company: BWNB
Filing Date: 2025-04-21
Form Type: DEF 14A
Source: 0001104659-25-036850
Chunk: 26

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-04-21
Form: DEF 14A
Chunk 26
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 sold or withheld to satisfy any applicable tax obligations arising in connection with the award and, in the case of shares acquired under a stock option, to satisfy the applicable option exercise price. Stock ownership that counts toward meeting the required level of ownership includes shares of Company stock owned outright by the individual or members of his or her family residing in the same household, shares subject to outstanding Company restricted stock and restricted stock unit awards granted to the individual, shares of Company stock held under a Company retirement plan for the benefit of the individual, and shares of Company stock held in a trust in which the individual has a pecuniary interest. Outstanding Equity Awards As of December 31, 2024, Mr. Bartoli is our only non-employee director who held outstanding stock options. Mr. Bartoli held options to acquire 3,639 shares of our common stock. As of December 31, 2024, Messrs. Howe, Moeller, Tato, Ms. Stahl, and Dr. Boness each held unvested restricted stock units with respect to 84,821 shares of our common stock, and Mr. Bartoli held unvested restricted stock units with respect to 128,174 shares of our common stock. Consulting Arrangement with Henry E. Bartoli Mr. Bartoli entered into a consulting agreement with The Babcock & Wilcox Company in November 2020, pursuant to which he initially provided services through December 31, 2021. The Babcock & Wilcox Company has entered into a series of amendments to the consulting agreement with Mr. Bartoli to extend the term of the agreement. Mr. Bartoli entered into a second amendment to his consulting agreement with The Babcock & Wilcox Company, effective January 1, 2024, pursuant to which he provided services through December 31, 2024. Mr. Bartoli entered into a third amendment to his consulting agreement with The Babcock & Wilcox Company, effective January 1, 2025, pursuant to which he will provide services through December 31, 2025, subject to earlier termination as provided in the consulting agreement. As consideration for his consulting services during 2024, Mr. Bartoli (1) received a $18,750 monthly fee, and (2) 30,000 restricted stock units awarded on January 4, 2024 that were scheduled to vest, subject to Mr. Bartoli’s continued service through the applicable vesting date, 50% on June 30, 2024