On March 17, 2026, Oceaneering International Inc. announced significant updates to its executive compensation structure, specifically regarding its Change of Control Agreement and the introduction of a new Executive Leadership Team Severance Plan. The amendments to the Change of Control Agreement for President and CEO Roderick A. Larson now condition severance benefits on his compliance with restrictive covenants, including non-competition and confidentiality agreements. Additionally, the new Severance Plan provides severance benefits to eligible executives, including a payout equivalent to one or two times their base salary, depending on their position, along with prorated short-term incentive awards and continued health coverage for a specified period. These changes are aimed at enhancing the retention of key executives during potential corporate transitions, reflecting a proactive approach to governance and leadership stability. The company believes these measures will strengthen its operational execution and strategic outlook amidst a competitive landscape.

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