Mergers & Acquisitions ·
Hornbeck Offshore Services, Inc. completed its merger with Helix Energy Solutions Group, Inc., on September 1, 2026…
HLXHornbeck Offshore Services, Inc.
Hornbeck Offshore Services, Inc. completed its merger with Helix Energy Solutions Group, Inc., on September 1, 2026, resulting in Helix converting to a Delaware corporation and renaming itself Hornbeck Offshore Services, Inc. The filing details compensatory arrangements adopted in connection with the transaction, including employment agreements for CEO Todd M. Hornbeck and five executive vice presidents. Key terms include an annual base salary of $875,000 for Mr. Hornbeck and severance packages equal to 2.5 times base salary plus target bonus upon qualifying termination. The Board adopted a 2026 Omnibus Inducement Incentive Plan reserving 1,500,000 shares of common stock. Additionally, the Company granted Mr. Hornbeck performance-based restricted stock units covering up to 1,500,000 shares and equity awards valued at $4,500,000 for Mr. Hornbeck and smaller amounts for other executives. The company operates in the offshore marine services industry.