AGM/EGMMay 22, 2026, 04:22 PM
Babcock & Wilcox Increases Incentive Plan Shares to 10.25M; Board Declassification Fails
AI Summary
Babcock & Wilcox Enterprises, Inc. stockholders approved an amendment to the 2021 Long-Term Incentive Plan, increasing the total authorized shares for award grants from 5,250,000 to 10,250,000. However, proposals to declassify the Board and remove certain 80% voting requirements for charter and bylaw amendments both failed to receive the necessary affirmative votes. Stockholders also elected two Class II directors, ratified the appointment of BDO USA, P.C. as the independent auditor, and approved executive compensation on an advisory basis.
Key Highlights
- Stockholders approved an amendment to the 2021 Long-Term Incentive Plan.
- Authorized shares for the 2021 Plan increased from 5,250,000 to 10,250,000.
- Proposal to declassify the Board failed, not receiving the required 80% affirmative vote.
- Proposal to remove 80% voting requirement for charter/bylaw amendments also failed.
- Alan B. Howe and Rebecca L. Stahl were elected as Class II directors until 2029.
- Appointment of BDO USA, P.C. as independent auditor for 2026 was ratified.
- Non-binding advisory approval of named executive officer compensation passed.
Price Impact
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