Company: BWXT
Filing Date: 2025-03-06
Form Type: PRE 14A
Source: 0001486957-25-000011
Chunk: 37

Company: BWX Technologies, Inc.
Filing Date: 2025-03-06
Form: PRE 14A
Chunk 37
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 by assigning an individual performance adjustment score for each Named Executive based on the assessment of each Named Executive's individual performance versus pre-established performance objectives during 2024. 
 Adjustment Range:Individual performance adjustments can be positive or negative and are expected to be relatively modest absent extraordinary circumstances. In no event will payouts exceed 200% of target payout.                                                                                                                                                                                     |

Summary of EICP Payouts. The total payout percentage represents the combined results of applicable financial, safety and individual performance for each Named Executive. The amount paid under the EICP for 2024 can be illustrated by the following formula:

<div align='center'>Total Cash Award = Salary x Target % x (Financial Multiplier % + Safety Multiplier %) x Individual Performance Adjustment %, with a minimum payout of 0% and a maximum payout of 200% of target</div>

At the time the Compensation Committee established the 2024 financial goals, it designed the 2024 annual incentive plan to exclude from actual operating income and operating cash flow results the effect of certain pre-established items that it believed would not reflect operating performance, including (1) expenses associated with restructuring activity or asset acquisitions or dispositions, (2) pension accounting mark-to-market losses, (3) losses in respect of legal proceedings, divestitures, and impairment to assets, (4) acquisition-related amortization, (5) currency fluctuations, (6) acts of God, and (7) other unusual or non-recurring items.

Regardless of the level of performance achieved, the Compensation Committee retains the right to adjust the amount of annual incentive compensation payable in its discretion. No such discretion was applied to the 2024 payouts.

2024 EICP Performance Goals. The Compensation Committee established the following financial and safety performance goals for 2024.

### 2024 EICP FINANCIAL GOALS
| Metric (Weight)                                                                                                                                                                                                                                                                   |     | Threshold Goal 
 50% Payout     |     | Target Goal    
 100% Payout    |     | Maximum Goal   
 200% Payout    |     | Actual(1)      |
| OperatingIncome(2)(70%)                                                                                                                                                                                                                                                           |     | $347.4 million |     | $408.7 million |     | $470.0 million |     | $419.3 million |
| Free Cash Flow (25%)                                                                                                                                                                                                                                                              |     | $212.7 million |     | $250.3 million |     | $287.8 million |     | $