Frymyer Cameron M 4

What Happened

• Cameron M. Frymyer, CFO of Babcock & Wilcox Enterprises (BW), converted 75,000 performance stock units (PSUs) into common shares on 2026-03-05. The gross value of the 75,000 shares was reported at $13.29 per share (≈ $996,750).
• To satisfy tax withholding, 33,450 of the issued shares were retained by the issuer (value ≈ $444,551). Net shares received by Frymyer were 41,550 (75,000 − 33,450), with a net value of roughly $552,200.
• This was a conversion/vesting transaction (derivative exercise), not an open-market buy or sale.

Key Details

• Transaction date: 2026-03-05; filing date: 2026-03-09 (filed timely).
• Reported entries: 75,000 shares acquired at $13.29 (value ≈ $996,750); 33,450 shares withheld for tax at $13.29 (disposed for tax ≈ $444,551); a matching derivative cancellation recorded at $0 (conversion of PSUs).
• Shares owned after transaction: not disclosed in the filing.
• Footnotes: F1 notes issuer withheld shares to cover tax withholding; F2 describes PSUs as contingent rights to one share each under the company’s LTIP; F3 states 100% vesting occurs if the stock hits $12.00 at the end of any trading day within the performance window (July 28, 2022 to July 27, 2027).

Context

• This was a vesting/conversion of PSUs (a non-cash derivative conversion). The withholding of shares to cover taxes is routine and common for equity awards; it is not an open-market sale indicating a change in sentiment.
• Per the footnotes, the PSUs vest based on a $12 price trigger—conversion here indicates that trigger was met.