Helix grants Sparks 210K options, 70K RSUs

Executive Scott Andrew Sparks’ Helix (HLX) equity converted to cash-settled awards at merger closing and was replaced with new option and RSU grants.

Rhea-AI Filing Summary

HELIX ENERGY SOLUTIONS GROUP INC (HLX) reported that executive Scott Andrew Sparks had equity awards restructured and new awards granted around the closing of Helix’s merger with Hornbeck Offshore Services. On September 1, 2026, outstanding Helix restricted stock units covering 181,120 shares and performance share units covering 250,292 shares were canceled in connection with the merger and converted into rights to receive cash based on the closing price of Helix common stock on the trading day immediately before the closing date. On September 2, 2026, Sparks received a grant of stock options for 210,000 shares of common stock at an exercise price of $10.60 per share, expiring September 2, 2036, and a grant of 70,000 restricted stock units that vest on September 1, 2029. Following these awards, Sparks directly holds 371,042 shares of common stock, and no Rule 10b5-1 trading plan is reported.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Sparks Scott Andrew

Role See Remarks

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (right to buy)	210,000	$0.00	$0.00
Grant/Award	Common Stock F2	70,000	$0.00	$0.00
Disposition	Restricted Stock Units F3, F1	181,120	$10.30	$1.87M
Disposition	Performance Share Units F4, F1	250,292	$10.30	$2.58M

Holdings After Transaction: Restricted Stock Units — 0 contracts (Direct); Performance Share Units — 0 contracts (Direct); Stock Option (right to buy) — 210,000 contracts (Direct); Common Stock — 371,042 shares (Direct)

Footnotes (4)

1. F1. On September 1, 2026 (the "Closing Date"), pursuant to that certain Agreement and Plan of Merger, dated as of April 22, 2026 (the "Merger Agreement"), by and among Helix Energy Solutions Group, Inc. ("Helix"), Hornbeck Offshore Services, Inc. ("Hornbeck"), Odyssey Sub, Inc. and Hercules Sub LLC, the parties effected certain mergers (the "Mergers"). In connection with the Mergers, Helix converted from a Minnesota corporation to a Delaware corporation (the "Conversion") and Hornbeck became a wholly owned subsidiary of Helix. Following the Conversion and the Mergers, Helix was renamed "Hornbeck Offshore Services, Inc." (the "Combined Company").
2. F2. Represents a grant of 70,000 restricted stock units ("RSUs"), each of which represents a contingent right to receive, upon vesting, one share of common stock of the Combined Company, par value $0.00001 per share ("Common Stock"). The RSUs vest on September 1, 2029.
3. F3. Pursuant to the Merger Agreement, each outstanding Helix RSU, whether or not vested, was canceled and converted into the right of the holder to receive a cash payment equal to the closing price of a share of Helix's common stock on the trading day immediately prior to the Closing Date.
4. F4. Pursuant to the Merger Agreement, each outstanding Helix performance share unit, whether or not vested, was canceled and converted into the right of the holder to receive a cash payment equal to the closing price of a share of Helix's common stock on the trading day immediately prior to the Closing Date multiplied by such number of shares subject to the award with performance deemed achieved based on the greater of target and actual level of performance through immediately prior to the effective time of the Mergers as reasonably determined by the Helix board of directors in good faith.

Key Figures

Stock options granted: 210,000 options Option exercise price: $10.60 per share Option expiration date: September 2, 2036 +5 more

8 metrics

Stock options granted 210,000 options Grant of stock options on September 2, 2026

Option exercise price $10.60 per share Exercise price of options granted September 2, 2026

Option expiration date September 2, 2036 Expiration of option grant to Scott Andrew Sparks

RSUs granted 70,000 RSUs New restricted stock unit grant on September 2, 2026

RSU vesting date September 1, 2029 Vesting date for 70,000 RSUs granted to Sparks

RSUs canceled for cash 181,120 units Helix RSUs canceled and cash-settled on September 1, 2026

Performance share units canceled 250,292 units Helix PSUs canceled and cash-settled on September 1, 2026

Shares held after transactions 371,042 shares Common stock directly owned by Sparks after September 2, 2026

Key Terms

Restricted Stock Units, Performance Share Units, Agreement and Plan of Merger, wholly owned subsidiary, +1 more

5 terms

Restricted Stock Units financial

"Represents a grant of 70,000 restricted stock units ("RSUs"), each of which"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Performance Share Units financial

"each outstanding Helix performance share unit, whether or not vested, was canceled"

Performance share units are a type of company stock award given to employees that depend on the company meeting specific goals or targets. If these goals are achieved, the employee receives shares or the value of shares; if not, they may receive little or no compensation. This aligns employees’ interests with the company's success and encourages performance that benefits investors.

Agreement and Plan of Merger regulatory

"pursuant to that certain Agreement and Plan of Merger, dated as of April 22, 2026"

An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.

wholly owned subsidiary financial

"Hornbeck became a wholly owned subsidiary of Helix"

A wholly owned subsidiary is a company whose entire ownership is held by another company (the parent), so the parent controls decisions, operations, and finances. Think of it as a fully controlled branch that runs as its own legal entity but whose results flow straight into the parent’s financial statements; investors watch these structures because they affect consolidated revenue, risk exposure, and how profits, liabilities, and cash flow are allocated across the corporate group.

Conversion regulatory

"Helix converted from a Minnesota corporation to a Delaware corporation (the "Conversion")"

Conversion is the exchange of one type of financial instrument for another, most commonly turning convertible bonds or preferred shares into common stock. It matters to investors because conversion changes the number of outstanding shares and ownership stakes—like trading a coupon for a slice of a company—potentially reducing each existing owner's portion, affecting per-share earnings, voting power and the market value of the stock.

FAQ

What new stock options did Scott Andrew Sparks receive from HLX?

Scott Andrew Sparks received a grant of 210,000 stock options on September 2, 2026. The options allow him to buy Helix common stock at an exercise price of $10.60 per share and expire on September 2, 2036, with an exercise date stated as September 1, 2029.

What restricted stock units did HLX grant to Scott Andrew Sparks?

Helix granted Scott Andrew Sparks 70,000 restricted stock units (RSUs) on September 2, 2026. Each RSU represents a contingent right to receive one share of common stock of the combined company. According to the filing, these RSUs vest on September 1, 2029.

What happened to Scott Andrew Sparks’ prior Helix RSUs in the merger with Hornbeck for HLX?

On September 1, 2026, each outstanding Helix RSU held by Scott Andrew Sparks, covering 181,120 shares, was canceled under the merger agreement and converted into the right to receive a cash payment equal to the closing price of Helix common stock on the trading day immediately before the closing date.

How were Scott Andrew Sparks’ performance share units treated in the HLX merger?

On September 1, 2026, each outstanding Helix performance share unit held by Scott Andrew Sparks, covering 250,292 shares, was canceled and converted into a right to receive cash. The cash amount equals the same pre-closing trading day’s closing price times the shares, using performance at the greater of target or actual as determined in good faith.

How many HLX common shares does Scott Andrew Sparks own after these transactions?

Following the September 2, 2026 transactions, Scott Andrew Sparks directly holds 371,042 shares of Helix (combined company) common stock. This figure reflects his direct ownership position as reported after the new RSU grant.

Were Scott Andrew Sparks’ HLX transactions under a Rule 10b5-1 trading plan?

No. The filing indicates the document-level Rule 10b5-1 checkbox is not checked, and there is no footnote stating that these transactions were made pursuant to a Rule 10b5-1 or other pre-arranged trading plan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/03/2026 - 05:47 PM Accepted by SEC EDGAR 09/03/2026 - 05:40 PM Learn about SEC filing dates

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Sparks Scott Andrew

(Last) (First) (Middle)

103 NORTHPARK BOULEVARD, SUITE 300

(Street)

COVINGTON LOUISIANA 70433

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
HORNBECK OFFSHORE SERVICES, INC. [ HOS ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/01/2026

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

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

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

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
Common Stock	09/02/2026		A		70,000(2)	A	$0	371,042	D

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
Restricted Stock Units	(3)	09/01/2026		D			181,120	(1)(3)	(1)(3)	Common stock	181,120	$10.3(3)	0	D
Performance Share Units	(4)	09/01/2026		D			250,292	(1)(4)	(1)(4)	Common stock	250,292	$10.3(4)	0	D
Stock Option (right to buy)	$10.6	09/02/2026		A		210,000		09/01/2029	09/02/2036	Common Stock	210,000	$0	210,000	D

Explanation of Responses:

1. On September 1, 2026 (the "Closing Date"), pursuant to that certain Agreement and Plan of Merger, dated as of April 22, 2026 (the "Merger Agreement"), by and among Helix Energy Solutions Group, Inc. ("Helix"), Hornbeck Offshore Services, Inc. ("Hornbeck"), Odyssey Sub, Inc. and Hercules Sub LLC, the parties effected certain mergers (the "Mergers"). In connection with the Mergers, Helix converted from a Minnesota corporation to a Delaware corporation (the "Conversion") and Hornbeck became a wholly owned subsidiary of Helix. Following the Conversion and the Mergers, Helix was renamed "Hornbeck Offshore Services, Inc." (the "Combined Company").

2. Represents a grant of 70,000 restricted stock units ("RSUs"), each of which represents a contingent right to receive, upon vesting, one share of common stock of the Combined Company, par value $0.00001 per share ("Common Stock"). The RSUs vest on September 1, 2029.

3. Pursuant to the Merger Agreement, each outstanding Helix RSU, whether or not vested, was canceled and converted into the right of the holder to receive a cash payment equal to the closing price of a share of Helix's common stock on the trading day immediately prior to the Closing Date.

4. Pursuant to the Merger Agreement, each outstanding Helix performance share unit, whether or not vested, was canceled and converted into the right of the holder to receive a cash payment equal to the closing price of a share of Helix's common stock on the trading day immediately prior to the Closing Date multiplied by such number of shares subject to the award with performance deemed achieved based on the greater of target and actual level of performance through immediately prior to the effective time of the Mergers as reasonably determined by the Helix board of directors in good faith.

Remarks:

Executive Vice President and Chief Operating Officer, Subsea Services and Well Intervention Exhibit 24.1 - Power of Attorney

	/s/ Beth A. LaBrosse, as Attorney-in-Fact for Scott Andrew Sparks	09/03/2026
	** 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.
* Form 4: SEC 1474 (03-26)