KRATZ OWEN E 4

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.