Sparks Scott Andrew 4

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

AI-generated summary of this filing

Updated Feb 27, 2026

Helix (HLX) EVP Scott Sparks Exercises PSUs (Cash‑Settled)

What Happened

Scott Sparks, EVP & COO of Helix Energy Solutions Group (HLX), had 140,667 derivative units (reported as an "M" exercise/conversion) on 2026-02-26 converted and disposed. The Form 4 shows $0.00 per share and no shares issued to him — the company elected to pay the vested value in cash rather than deliver stock.
The units stem from 2023 Performance Share Units (PSUs). The PSUs vested at 151% of the original grant; under the PSU award agreement and the Compensation Committee’s election, the vested PSU value was paid in cash. The filing does not state a dollar amount received.

Key Details

Transaction date: 2026-02-26 (Form 4 filed 2026-02-27). Transaction code: M = exercise/conversion of derivative.
Reported quantity: 140,667 (derivative units converted/ disposed). Reported price per share: $0.00 (reflects cash settlement/no shares issued).
Shares owned after transaction: not specified in the summary provided.
Footnote: 2023 PSUs granted Jan 3, 2023 vested at 151% based on TSR and free cash flow performance for 2023–2025; Compensation Committee elected cash payout (see F1).
Timeliness: Filing appears timely (reported 1 day after the transaction), not marked late.

Context

These were performance-based PSUs that matured and were cash‑settled — this is a payout of compensation, not an open‑market sale or buy signal. Cash settlements are common for performance awards and do not necessarily indicate a view on the stock.
Transaction code M indicates conversion/exercise of a derivative award; because no shares were issued to the insider, there was no open‑market trading associated with this filing.

Form 4

Period: 2026-02-26

EVP & COO

Transactions

Exercise/Conversion
Performance Share Units
[F1]
2026-02-26−140,667→ 0 total
→ Common Stock (140,667 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