UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) Clawback Policy. On September 18, 2023, the Board of Directors (the “Board”) of Helix Energy Solutions Group, Inc. (the “Company”) adopted a Mandatory Recoupment Policy (the “Clawback Policy”), to comply with the final clawback rules adopted by the U.S. Securities and Exchange Commission under Section 10D and Rule 10D-1 of the Securities Exchange Act of 1934, as amended (“Rule 10D-1”), and the listing standards, as set forth in the New York Stock Exchange Listed Company Manual (the “NYSE Rules” and, together with Rule 10D-1, the “Final Clawback Rules”). The Clawback Policy provides for the mandatory recovery of erroneously awarded incentive compensation from current and former officers of the Company as defined in Rule 10D-1 (“Covered Officers”) in the event the Company is required to prepare an accounting restatement as specified in the Clawback Policy. Under the Clawback Policy, the Board may recoup from the Covered Officers erroneously awarded incentive compensation received within a lookback period of the three completed fiscal years preceding the date on which the Company is required to prepare an accounting restatement. The Clawback Policy is effective as of September 18, 2023 and supersedes the terms and conditions of the Company’s previously disclosed Incentive Award Recoupment Policy adopted December 12, 2019.
The foregoing summary of the Clawback Policy does not purport to be complete and is qualified in its entirety by reference to the full text of the Clawback Policy, a copy of which is attached hereto as Exhibit 99.1, to this Current Report on Form 8-K and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: September 20, 2023 |
| ||
HELIX ENERGY SOLUTIONS GROUP, INC. | |||
By: | /s/ Kenneth E. Neikirk | ||
Kenneth E. Neikirk | |||
Executive Vice President, General Counsel and |
EXHIBIT 99.1
HELIX ENERGY SOLUTIONS GROUP, INC.
MANDATORY RECOUPMENT POLICY
For the avoidance of doubt, Incentive-Based Compensation does not include (I) base salary, (II) amounts paid solely at a Board or Board Committee’s discretion and which amounts are not paid from a “bonus pool” determined by the satisfaction of a Financial Reporting Measure or (III) amounts, non-equity incentive plan awards or equity awards that, in each case, are subject only to time-based vesting conditions and/or satisfying one or more subjective, strategic or operational measures that are not Financial Reporting Measures.
* * * * *
Exhibit A
HELIX ENERGY SOLUTIONS GROUP, INC.
MANDATORY RECOUPMENT POLICY
COVERED PERSON ACKNOWLEDGMENT
I hereby certify and acknowledge that:
1. | I have received and read the Helix Energy Solutions Group, Inc. Mandatory Recoupment Policy (the “Policy”), and understand the terms thereof; and |
2. | I agree that the Company may recoup, and I agree to repay, amounts as and according to the terms and conditions provided in the Policy, whether under any compensation plan, award, agreement, employment agreement, communication or any other plan, policy or agreement of the Company (collectively, “Incentive Compensation Agreements”) including amounts already awarded, granted, earned, vested or paid, notwithstanding any contrary provisions of such Incentive Compensation Agreements. |
3. | For the avoidance of doubt, any recoupment effected under the Policy shall not, in and of itself, constitute grounds to terminate my employment for “Good Reason” (or any term of similar meaning) under any Incentive Compensation Agreement. |
Signature:
Print Name:
Date:
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Document and Entity Information |
Sep. 20, 2023 |
---|---|
Document and Entity Information [Abstract] | |
Document Type | 8-K |
Document Period End Date | Sep. 20, 2023 |
Entity File Number | 001-32936 |
Entity Registrant Name | HELIX ENERGY SOLUTIONS GROUP, INC. |
Entity Incorporation, State or Country Code | MN |
Entity Tax Identification Number | 95-3409686 |
Entity Address, Address Line One | 3505 West Sam Houston Parkway North |
Entity Address, Adress Line Two | Suite 400 |
Entity Address, City or Town | Houston |
Entity Address, State or Province | TX |
Entity Address, Postal Zip Code | 77043 |
City Area Code | 281 |
Local Phone Number | 618-0400 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock, no par value |
Trading Symbol | HLX |
Security Exchange Name | NYSE |
Entity Emerging Growth Company | false |
Entity Central Index Key | 0000866829 |
Amendment Flag | false |
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