BWX Technologies, Inc. Files Definitive Proxy Statement

Ticker: BWXT · Form: DEF 14A · Filed: Mar 14, 2024 · CIK: 1486957

Bwx Technologies, Inc. DEF 14A Filing Summary
FieldDetail
CompanyBwx Technologies, Inc. (BWXT)
Form TypeDEF 14A
Filed DateMar 14, 2024
Risk Levellow
Pages16
Reading Time19 min
Key Dollar Amounts$2.5 b, $246.3 million, $471.9 m, $2.68, $3
Sentimentneutral

Sentiment: neutral

Topics: BWXT, DEF 14A, Proxy Statement, Corporate Governance, Executive Compensation

TL;DR

<b>BWX Technologies, Inc. has filed its Definitive Proxy Statement for the fiscal year ending December 31, 2023.</b>

AI Summary

BWX Technologies, Inc. (BWXT) filed a Proxy Statement (DEF 14A) with the SEC on March 14, 2024. BWX Technologies, Inc. filed a Definitive Proxy Statement (DEF 14A) on March 14, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal executive offices are located at 800 Main Street, 4th Floor, Lynchburg, VA 24504. BWXT's IRS number is 800558025. The company was formerly known as Babcock & Wilcox Co, with a name change effective March 11, 2010.

Why It Matters

For investors and stakeholders tracking BWX Technologies, Inc., this filing contains several important signals. This DEF 14A filing provides shareholders with crucial information regarding the company's governance, executive compensation, and matters to be voted on at the upcoming shareholder meeting. Understanding the details within this proxy statement is essential for shareholders to make informed voting decisions on proposals such as director elections and executive compensation plans.

Risk Assessment

Risk Level: low — BWX Technologies, Inc. shows low risk based on this filing. The filing is a routine DEF 14A, providing standard disclosures without immediate financial or operational performance indicators, thus posing low immediate risk.

Analyst Insight

Review the executive compensation details and any shareholder proposals within the DEF 14A to assess potential impacts on corporate governance and shareholder value.

Key Numbers

  • 2023-12-31 — Fiscal Year End (Period of report)
  • 2024-03-14 — Filing Date (Date the DEF 14A was filed)
  • 001-34658 — SEC File Number (SEC file number for BWXT)
  • 800558025 — IRS Number (Company's IRS number)

Key Players & Entities

  • BWX Technologies, Inc. (company) — Filer name
  • Babcock & Wilcox Co (company) — Former company name
  • 800 Main Street, 4th Floor, Lynchburg, VA 24504 (address) — Business and mailing address

FAQ

When did BWX Technologies, Inc. file this DEF 14A?

BWX Technologies, Inc. filed this Proxy Statement (DEF 14A) with the SEC on March 14, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by BWX Technologies, Inc. (BWXT).

Where can I read the original DEF 14A filing from BWX Technologies, Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by BWX Technologies, Inc..

What are the key takeaways from BWX Technologies, Inc.'s DEF 14A?

BWX Technologies, Inc. filed this DEF 14A on March 14, 2024. Key takeaways: BWX Technologies, Inc. filed a Definitive Proxy Statement (DEF 14A) on March 14, 2024.. The filing covers the fiscal year ending December 31, 2023.. The company's principal executive offices are located at 800 Main Street, 4th Floor, Lynchburg, VA 24504..

Is BWX Technologies, Inc. a risky investment based on this filing?

Based on this DEF 14A, BWX Technologies, Inc. presents a relatively low-risk profile. The filing is a routine DEF 14A, providing standard disclosures without immediate financial or operational performance indicators, thus posing low immediate risk.

What should investors do after reading BWX Technologies, Inc.'s DEF 14A?

Review the executive compensation details and any shareholder proposals within the DEF 14A to assess potential impacts on corporate governance and shareholder value. The overall sentiment from this filing is neutral.

How does BWX Technologies, Inc. compare to its industry peers?

BWX Technologies operates in the industrial sector, specifically focusing on nuclear components and fuel services for government and commercial customers.

Are there regulatory concerns for BWX Technologies, Inc.?

The filing is a standard DEF 14A, a requirement under the Securities Exchange Act of 1934 for public companies soliciting proxies from shareholders.

Industry Context

BWX Technologies operates in the industrial sector, specifically focusing on nuclear components and fuel services for government and commercial customers.

Regulatory Implications

The filing is a standard DEF 14A, a requirement under the Securities Exchange Act of 1934 for public companies soliciting proxies from shareholders.

What Investors Should Do

  1. Analyze the detailed breakdown of executive compensation for named executive officers.
  2. Review the proposals to be voted on by shareholders, including director elections and any advisory votes on executive compensation.
  3. Examine the company's corporate governance practices as outlined in the proxy statement.

Key Dates

  • 2024-03-14: Filing Date — Filing of the Definitive Proxy Statement (DEF 14A)
  • 2023-12-31: Fiscal Year End — The reporting period covered by the proxy statement

Year-Over-Year Comparison

This is the initial DEF 14A filing for the fiscal year 2023, following previous filings for earlier periods.

Filing Stats: 4,655 words · 19 min read · ~16 pages · Grade level 13 · Accepted 2024-03-14 07:35:40

Key Financial Figures

  • $2.5 b — E HIGHLIGHTS* Consolidated revenue was $2.5 billion, a 12% increase over the prior ye
  • $246.3 million — r. Net income and adjusted EBITDA were $246.3 million and $471.9 million, respectively. GAAP
  • $471.9 m — adjusted EBITDA were $246.3 million and $471.9 million, respectively. GAAP and non-GAAP
  • $2.68 — AP and non-GAAP earnings per share were $2.68 and $3.02, respectively. In 2023, we r
  • $3 — -GAAP earnings per share were $2.68 and $3.02, respectively. In 2023, we returned
  • $85.0 million — 02, respectively. In 2023, we returned $85.0 million to stockholders in the form of dividend
  • $4.0 billion — s of December 31, 2023, our backlog was $4.0 billion. * Please refer to Appendix A, "Recon

Filing Documents

SECURITY OWNERSHIP OF DIRECTORS AND EXECUTIVE OFFICERS

SECURITY OWNERSHIP OF DIRECTORS AND EXECUTIVE OFFICERS 57

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS 58 AUDIT AND FINANCE COMMITTEE REPORT 59 PROPOSAL 3: RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 60 CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS 61 STOCKHOLDERS' PROPOSALS 62 APPENDIX A — RECONCILIATION OF REPORTED (GAAP) TO ADJUSTED (NON-GAAP) RESULTS A-1 2024 PROXY STATEMENT (i) Table of Contents 2024 PROXY STATEMENT SUMMARY 2024 PROXY STATEMENT SUMMARY This summary highlights information contained elsewhere in this proxy statement. This summary does not contain all of the information that you should consider, and you should read the entire proxy statement carefully before voting. BWX Technologies, Inc. is referred to as "BWXT," the "Company," "we" or "us." ANNUAL MEETING OF STOCKHOLDERS Date and Time May 3, 2024 at 9:30 a.m. Eastern Time Virtual Meeting The Annual Meeting will be held via a live webcast at www.virtualshareholdermeeting.com/BWXT2024 . Record Date March 6, 2024 Voting Stockholders as of the record date are entitled to vote. Each share of our common stock is entitled to one vote for each director nominee and one vote for each of the proposals to be voted on. Attendance All stockholders as of the record date and their duly appointed proxies may attend the meeting. CORPORATE GOVERNANCE HIGHLIGHTS Board Structure and Independence Shareholder Rights and Accountability Best Practices 90% Independent Directors 50% Board Leadership Gender Diversity* 40% Gender/Racial Diversity* 30% Gender Diversity* Independent Board Chair Regular Executive Sessions of Independent Directors All Committees Comprised Entirely of Independent Directors Committees can engage Independent Advisors Annual Board and Committee Self-Evaluations 12-Year Director Tenure Limit* Annual Election of Directors Majority Voting with Director Resignation Policy in Uncontested Elections* Annual CEO Performance and Compensation Evaluation by Independent Dire

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