Hornbeck granted Todd M. Hornbeck 1.5 million share award

Hornbeck Offshore Services, Inc., a leading provider of integrated offshore services, has announced a significant employee inducement grant to Todd M. Hornbeck as part of the recent merger with Helix Energy Solutions Group, Inc. The company has granted Hornbeck a performance-based equity award covering up to 1.5 million shares of common stock, under the Hornbeck Offshore Services, Inc. 2026 Omnibus Inducement Incentive Plan.

According to the press release, the Inducement Grant was approved by the Company's Board of Directors to serve as a material inducement for Hornbeck to join the combined entity. The award will vest in two tranches. The first tranche of 500,000 shares is tied to the achievement of target annualized gross synergies, while the second tranche of up to 1 million shares is contingent upon reaching specific share price targets by the end of 2029. Both vesting conditions are subject to the terms and conditions of the plan and award agreement, as well as Hornbeck's continued employment with the company.

Hornbeck Offshore Services, Inc. describes itself as a global leader in offshore services, offering innovative and integrated marine and subsea solutions to clients in the deepwater oilfield, defense, and renewables sectors.

The company's strategic merger with Helix Energy Solutions Group, Inc. marks a significant step in consolidating resources and expanding capabilities in the offshore services industry. Todd M. Hornbeck, as the new executive leading the combined entity, will play a crucial role in driving the company's growth and integration efforts.

Hornbeck Offshore Services, Inc. remains committed to its mission of providing cutting-edge solutions to its customers while maintaining the highest standards of service and safety.