[Form 4] BWX Technologies, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Jan A. Bertsch, a director of BWX Technologies, Inc. (BWXT), reported a transaction dated 09/05/2025 in which 36 dividend equivalent rights (DERs) tied to deferred restricted stock units (RSUs) were acquired. Each DER and RSU represents a contingent right to one share of BWXT common stock and the DERs have a reported price of $0. Following the reported transaction the filing shows 2,142.67 shares beneficially owned. The DERs relate to eight RSU grants for which the reporting person elected deferral; the DERs will be delivered proportionately with the underlying RSUs. The Form 4 is signed on behalf of Mr. Bertsch by an attorney-in-fact on 09/08/2025.

Insights

Corporate Governance Expert

TL;DR: Routine insider reporting of dividend equivalents tied to deferred RSUs, showing director alignment but no material change to ownership.

The report documents a standard, non-cash accrual of dividend equivalent rights related to previously awarded restricted stock units that the director has chosen to defer. This is an administrative disclosure required under Section 16 and reflects compensation-related settlement mechanics rather than open-market trading. The reported 36 DERs and the stated post-transaction beneficial ownership figure are small relative to typical institutional holdings and do not indicate a shift in governance or control.

Securities Analyst

TL;DR: Non-derivative acquisition of 36 dividend-equivalent rights; immaterial to shareholder base and valuation.

The filing shows acquisition code A for 36 dividend equivalent rights credited at $0, consistent with deferred compensation practice where dividend equivalents accrue in shares. The filing does not show open-market purchases or sales, and the transaction appears tied to existing RSU grants. Because the amount is modest and non-cash, there is no immediate liquidity or market-impact implication documented in this Form 4.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Bertsch Jan

(Last) (First) (Middle)

800 MAIN STREET

4TH FLOOR

(Street)

LYNCHBURG VA 24504

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BWX Technologies, Inc. [ BWXT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/05/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Dividend Equivalent Rights	(1)	09/05/2025		A		36		(1)	(1)	Common Stock	36	$0	2,142.67	D

Explanation of Responses:

1. The dividend equivalent rights accrued on eight restricted stock unit grants of which the reporting person has elected to defer receipt of the shares underlying the RSUs. Each RSU and DER represent a contingent right to receive one share of BWXT common stock. In accordance with the deferral election, the DERs will be delivered to the reporting person proportionately with the RSUs to which they relate.

Remarks:

	/s/ Jan A. Bertsch, by Theresa B. Taylor, attorney-in-fact	09/08/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Jan A. Bertsch report on the Form 4 for BWXT?

The filing reports acquisition of 36 dividend equivalent rights (DERs) related to deferred RSUs, dated 09/05/2025.

What do the dividend equivalent rights (DERs) represent?

Each DER and restricted stock unit represents a contingent right to receive one share of BWXT common stock and will be delivered proportionately with the related RSUs.

How many shares does the filing show as beneficially owned after the transaction?

The Form 4 reports 2,142.67 shares beneficially owned following the reported transaction.

Was cash consideration paid for the DERs?

The filing lists the price as $0, indicating these DERs accrued as non-cash dividend equivalents tied to RSUs.

Who signed the Form 4 and when?

The Form 4 is signed on behalf of Jan A. Bertsch by Theresa B. Taylor, attorney-in-fact with a signature date of 09/08/2025.