Company: BWXT
Filing Date: 2025-03-06
Form Type: PRE 14A
Source: 0001486957-25-000011
Chunk: 70

Company: BWX Technologies, Inc.
Filing Date: 2025-03-06
Form: PRE 14A
Chunk 70
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 the fee that the Company would be required to pay for the applicable Named Executive to receive such benefits.

ERSP. Under the Company’s ERSP, an executive’s Company contributions become fully vested on, among other events, (i) the date of the executive’s termination by the Company for any reason other than cause or (ii) the date a change in control occurs. A “change in control” has a substantially similar meaning under the Company’s ERSP as it does under the Company’s change in control agreements, except that a participant in the Company’s ERSP is excluded from accelerated vesting if the participant is part of a purchasing group that consummates a transaction that qualifies as a change of control under the ERSP. Messrs. Geveden, LeMasters, McCoy and Whitford were each 100% vested in Company matching service-based contributions as of December 31, 2024.

Restricted Stock Units, Performance RSUs and Options. The terms of the restricted stock unit, performance RSU and stock option award agreements provide for accelerated vesting in certain circumstances as described below. All unvested restricted stock units, performance RSUs and stock options become vested in the event a Named Executive’s employment terminates by reason of his death, disability or a change in control. In these circumstances, performance RSUs vest at target level. Under the Company’s Incentive Plans, a “change in control” occurs under the same circumstances described above with respect to the Company’s change-in-control agreements. In the event of an involuntary termination without cause, restricted stock units and stock options are forfeited, unless the termination is on or after the first anniversary of the grant date and the participant has met the retirement provisions for the applicable award, in which case all restricted stock units and stock options are retained and continue to vest. Additionally, in the event of an involuntary termination without cause, performance RSUs are

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forfeited unless the termination is on or after the first anniversary of the grant date, in which case a prorated amount of shares are retained and continue to vest based on the portion of days employed in the performance period. In the case of a voluntary termination, restricted stock units, performance RSUs and stock options are all forfeited, except in the event the termination is on or after the first anniversary of the grant date and the Name Executive has met the retirement provisions for the applicable award, in which case all restricted stock