KRATZ OWEN E 4

4 · HELIX ENERGY SOLUTIONS GROUP INC · Filed Feb 27, 2026

AI-generated summary of this filing

Updated Feb 27, 2026

Helix (HLX) CEO Owen Kratz Converts PSUs — Cash-Settled

What Happened

Owen E. Kratz, President & CEO and Director of Helix Energy Solutions Group (HLX), recorded an exercise/conversion of a derivative on Feb 26, 2026 for 368,292 units (Form 4 code M). The filing shows $0 proceeds and no stock received because the vested performance share units were paid in cash.

Key Details

Transaction date: 2026-02-26 (Form 4 filed 2026-02-27 — timely filing).
Reported units converted: 368,292; reported price/proceeds for stock: $0 (cash settlement elected).
Shares owned after transaction: not specified in the information provided on this summary.
Footnote: These were 2023 Performance Share Units (granted Jan 3, 2023). Vesting ranged 0–200% based on total shareholder return vs. peers and free cash flow over 2023–2025; the awards vested at 151% of grant. The Compensation Committee elected to pay the vested amount in cash per the award agreement.

Context

This was not an open‑market buy or sale of company stock. It reflects the conversion/settlement of long‑term incentive PSUs and a cash payout to the executive, a routine compensation event rather than a direct indication of buying or selling sentiment.

Form 4

Period: 2026-02-26

DirectorPRESIDENT & CEO

Transactions

Exercise/Conversion
Performance Share Units
[F1]
2026-02-26−368,292→ 0 total
→ Common Stock (368,292 underlying)

Footnotes (1)

[F1]Each Performance Share Unit ("2023 PSU") was granted on January 3, 2023 pursuant to the Company's 2005 Long-Term Incentive Plan (as amended, the "LTIP") and represented the contingent right to receive one share of Company common stock subject to the terms of the LTIP and the 2023 PSU Award Agreement. Actual number of shares upon vesting could have ranged from 0-200% dependent in equal parts on the Company's total shareholder return performance compared to a selected peer group and the generation of free cash flow compared to benchmarks over the three-year period beginning January 1, 2023 and ended December 31, 2025. Amount earned and vested was 151% of the number of 2023 PSUs granted. Pursuant to the terms of the 2023 PSU Award Agreement, the Compensation Committee of the Company's Board of Directors elected to pay in cash the value of the 2023 PSUs which vested.

Signature

/s/ Ken Neikirk by power of attorney|2026-02-27

1 file