Babcock & Wilcox Enterprises Inc. filed SEC Form 8-K: Submission of Matters to a Vote of Security Holders
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Item 5.07 Submission of Matters to a Vote of Security Holders
On June 4, 2025, at the 2025 annual meeting of stockholders (the “Annual Meeting”) of Babcock & Wilcox Enterprises, Inc. (the “Company”), the stockholders of the Company voted on six proposals, each of which is described in more detail in the Company’s definitive proxy statement (the “Proxy Statement”) filed with the Securities and Exchange Commission on April 21, 2025. There were 74,091,479 shares of common stock present at the Annual Meeting in person or by proxy, which represented 75.29% of the combined voting power of the Company’s common stock entitled to vote at the Annual Meeting, and which constituted a quorum for the transaction of business. Holders of the Company’s common stock were entitled to one vote on each matter to be acted on at the Annual Meeting for each share held as of the close of business on April 14, 2025. The voting results for each of the six proposals are detailed below.
Proposal 1:
The approval of amendments to the Company’s Restated Certificate of Incorporation (the “Certificate of Incorporation”) to declassify the Board of Directors of the Company (the “Board”) and provide for annual elections of all directors beginning at the 2027 annual meeting of stockholders did not receive the required affirmative vote of at least 80% of the voting power of all then outstanding shares of capital stock entitled to vote generally in the election of directors for approval. The voting results were as follows:
| Votes For | Votes Against | Abstain | Broker Non-Votes | |||||||||||
| 52,677,297 | 6,429,012 | 41,361 | 14,943,809 | |||||||||||
Proposal 2:
The election of Joseph A. Tato and Kenneth M. Young to serve as Class I directors of the Company to serve until the Company’s 2027 annual meeting of stockholders was contingent upon the approval of Proposal 1 to declassify the Board. Since Proposal 1 was not approved at the Annual Meeting, Proposal 2 was deemed null and void.
Proposal 3:
As Proposal 1 was not approved, the stockholders elected Joseph A. Tato and Kenneth M. Young to serve as Class I directors of the Company, each to serve a term of three years expiring at the Company’s 2028 annual meeting of stockholders. The voting results were as follows:
| Name | Votes For | Votes Withheld | Broker Non-Votes | |||||||||
| Joseph A. Tato | 46,187,632 | 12,960,038 | 14,943,809 | |||||||||
| Kenneth M. Young | 52,198,302 | 6,949,368 | 14,943,809 | |||||||||
Proposal 4:
The approval of amendments to the Certificate of Incorporation to remove provisions that require the affirmative vote of holders of at least 80% of the voting power to approve certain amendments to the Certificate of Incorporation and the Company’s Amended and Restated Bylaws did not receive the required affirmative vote of at least 80% of the voting power of all then outstanding shares of capital stock entitled to vote generally in the election of directors for approval. The voting results were as follows:
| Votes For | Votes Against | Abstain | Broker Non-Votes | |||||||||||
| 52,004,008 | 6,967,096 | 176,566 | 14,943,809 | |||||||||||
Proposal 5:
The stockholders approved the ratification of the appointment of BDO USA, P.C. as the Company’s independent registered public accounting firm for the year ending December 31, 2025. The voting results were as follows:
| Votes For | Votes Against | Abstain | ||||||||
| 73,198,923 | 194,731 | 697,825 | ||||||||
Proposal 6:
The stockholders approved, on a non-binding advisory basis, the compensation of the Company’s named executive officers as disclosed in the Proxy Statement. The voting results were as follows:
| Votes For | Votes Against | Abstain | Broker Non-Votes | |||||||||||
| 44,810,613 | 14,146,161 | 190,896 | 14,943,809 | |||||||||||
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| BABCOCK & WILCOX ENTERPRISES, INC. | ||
| June 10, 2025 | By: | /s/ Cameron Frymyer |
| Cameron Frymyer | ||
| Executive Vice President and Chief Financial Officer (Principal Accounting Officer and Duly Authorized Representative) | ||