Sparks Scott Andrew 4

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.