Proxy Statement
2021
Notice of Annual Meeting of Shareholders to be held May 19, 2021
April 6, 2021
Dear Shareholder:
You are cordially invited to join us for our 2021 Annual Meeting of Shareholders to be held on Wednesday, May 19, 2021 at 8:30 a.m. As part of our concern regarding the health and safety of our shareholders, directors, officers, employees, meeting attendees and the general public in light of the ongoing COVID-19 pandemic, the Annual Meeting will be a virtual meeting format, held via live audio webcast. We have endeavored to make your experience as a shareholder as comparable as possible to that of an in-person meeting.
The materials following this letter include the formal Notice of Annual Meeting of Shareholders and the proxy statement. The proxy statement describes the business to be conducted at the Annual Meeting, including the election of two directors, the ratification of the selection of KPMG LLP as our independent registered public accounting firm for the 2021 fiscal year, and the approval on a non-binding advisory basis of the 2020 compensation of our named executive officers.
We have elected to furnish proxy materials to our shareholders on the Internet pursuant to rules adopted by the Securities and Exchange Commission. We believe that this election enables us to provide you with the information you need, while making delivery more efficient, more cost effective and friendlier to the environment. In accordance with these rules, we have sent a Notice of Availability of Proxy Materials to each of our shareholders.
Whether you own a few or many shares of our stock, it is important that your shares be represented. Regardless of whether you plan to attend the virtual Annual Meeting, please take a moment to vote your proxy over the Internet, by telephone, or if this statement was mailed to you, by completing and signing the enclosed proxy card and promptly returning it in the envelope provided. The Notice of Annual Meeting of Shareholders on the inside cover of this proxy statement includes instructions on how to vote your shares.
The officers and directors of Helix appreciate and encourage shareholder participation. We look forward to your attendance at the virtual Annual Meeting.
Sincerely,
Owen Kratz
President and Chief Executive Officer
Important notice regarding the availability of proxy materials
for the Annual Meeting of Shareholders to be held on May 19, 2021
The Helix Energy Solutions Group, Inc. 2021 Proxy Statement and Annual Report to Shareholders (including our Annual
Report on Form 10-K) for the fiscal year ended December 31, 2020 are available electronically at
www.HelixESG.com/annualmeeting
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Table of Contents
|
NOTICE OF 2021 ANNUAL MEETING .................................... |
i |
|
GENERAL INFORMATION .................................................... |
2 |
|
PROPOSAL 1: ELECTION OF DIRECTORS ........................... |
8 |
|
CORPORATE GOVERNANCE ............................................. |
13 |
|
Composition of the Board................................................... |
13 |
|
Role of the Board ............................................................... |
13 |
|
Board of Directors Independence and Determinations....... |
13 |
|
Selection of Director Candidates........................................ |
13 |
|
Board of Directors Qualifications, Skills and Experience.... |
13 |
|
Board Leadership Structure ............................................... |
14 |
|
Communications with the Board......................................... |
14 |
|
Code of Business Conduct and Ethics ............................... |
14 |
|
Attendance at the Annual Meeting ..................................... |
14 |
|
Mandatory Retirement Policy ............................................. |
14 |
|
Directors' Continuing Education ......................................... |
14 |
|
Risk Oversight.................................................................... |
15 |
|
Corporate Sustainability ..................................................... |
15 |
|
Meetings of the Board and Committees ............................. |
16 |
|
Board Attendance .............................................................. |
17 |
|
Executive Sessions of the Directors................................... |
17 |
|
Audit Committee................................................................. |
17 |
|
Compensation Committee.................................................. |
18 |
|
Corporate Governance and Nominating Committee .......... |
19 |
|
Director Nomination Process ............................................. |
20 |
|
Compensation Committee Interlocks and Insider |
|
|
Participation ............................................................. |
21 |
|
DIRECTOR COMPENSATION.............................................. |
22 |
|
2020 Director Compensation Table.................................... |
22 |
|
Summary of Director Compensation and Procedures ........ |
24 |
|
CERTAIN RELATIONSHIPS ................................................ |
25 |
|
Audit Committee Pre-Approval Policies and Procedures ... |
25 |
|
REPORT OF THE AUDIT COMMITTEE................................. |
26 |
|
PROPOSAL 2: RATIFICATION OF INDEPENDENT |
||
|
REGISTERED PUBLIC ACCOUNTING FIRM ............ |
27 |
|
|
COMPENSATION DISCUSSION AND ANALYSIS ................... |
28 |
|
|
A. |
EXECUTIVE SUMMARY ................................................. |
28 |
|
B. |
EXECUTIVE COMPENSATION PROCESS.......................... |
33 |
|
C. |
COMPENSATION PHILOSOPHY AND OBJECTIVES ............. |
36 |
|
D. |
2020 Executive Compensation Components ........... |
38 |
|
E. |
2020 SAY ON PAY VOTE ............................................. |
45 |
|
F. |
COMPENSATION COMMITTEE REPORT........................... |
46 |
|
EXECUTIVE OFFICERS OF HELIX ...................................... |
47 |
|
|
EXECUTIVE COMPENSATION ............................................ |
49 |
|
|
Summary Compensation Table ......................................... |
49 |
|
|
Grant of Plan-Based Awards ............................................. |
50 |
|
|
Outstanding Equity Awards as of December 31, 2020 ...... |
52 |
|
|
Option Exercises and Stock Vested for |
||
|
Fiscal Year 2020...................................................... |
53 |
|
|
All Other Compensation..................................................... |
54 |
|
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Employment Agreements and |
||
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Change in Control Provisions .................................. |
55 |
|
|
Chief Executive Officer Pay Ratio...................................... |
59 |
|
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PROPOSAL 3: APPROVAL, ON A NON-BINDING |
||
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ADVISORY BASIS, OF THE |
||
|
2020 COMPENSATION OF OUR |
||
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NAMED EXECUTIVE OFFICERS ............................ |
61 |
|
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SHARE OWNERSHIP INFORMATION................................... |
62 |
|
|
Five Percent Owners ......................................................... |
62 |
|
|
Management Shareholdings .............................................. |
63 |
|
|
Delinquent Section 16(a) Reports...................................... |
64 |
|
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EQUITY COMPENSATION PLAN INFORMATION ................... |
64 |
|
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OTHER INFORMATION ...................................................... |
65 |
|
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Costs of Solicitation ........................................................... |
65 |
|
|
Proposals and Director Nominations for the |
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|
2022 Annual Meeting of Shareholders..................... |
65 |
|
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Other… .............................................................................. |
66 |
Attachments
Disclaimer
Helix Energy Solutions Group Inc. published this content on 05 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 April 2021 15:16:17 UTC.
