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Riley Bryant R

Filed: 13 May 22, 12:25pm
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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OMB Number: 3235-0287
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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).
1. Name and Address of Reporting Person*
B. Riley Financial, Inc.

(Last) (First) (Middle)
11100 SANTA MONICA BLVD
SUITE 800

(Street)
LOS ANGELES CA 90025

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Babcock & Wilcox Enterprises, Inc. [ BW ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
05/12/2022
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X 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
Common Stock, $0.01 par value per share 05/12/2022 P 200,000 A $5.7116(5) 11,531,099 I By B. Riley Securities, Inc.(1)(2)(3)
Common Stock, $0.01 par value per share 296,788 D(4)(6)
Common Stock, $0.01 par value per share 37,353 I Held in Bryant R. Riley's 401(k) account(1)(3)
Common Stock, $0.01 par value per share 33,733 I By Bryant R. Riley, as UTMA custodian for Abigail Riley(1)(3)(7)
Common Stock, $0.01 par value per share 33,733 I By Bryant R. Riley, as UTMA custodian for Charlie Riley(1)(3)(7)
Common Stock, $0.01 par value per share 31,747 I By Bryant R. Riley, as UTMA custodian for Susan Riley(1)(3)(7)
Common Stock, $0.01 par value per share 33,735 I By Bryant R. Riley, as UTMA custodian for Eloise Riley(1)(3)(7)
Common Stock, $0.01 par value per share 13,714,574 I By BRF Investments, LLC(1)(2)
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
Warrants (right to buy) $0.01 07/23/2019 07/23/2022 Common Stock 1,541,666.7 1,541,666.7 I By BRF Investments, LLC(1)(2)
1. Name and Address of Reporting Person*
B. Riley Financial, Inc.

(Last) (First) (Middle)
11100 SANTA MONICA BLVD
SUITE 800

(Street)
LOS ANGELES CA 90025

(City) (State) (Zip)
1. Name and Address of Reporting Person*
B. Riley Securities, Inc.

(Last) (First) (Middle)
11100 SANTA MONICA BLVD
SUITE 800

(Street)
LOS ANGELES CA 90025

(City) (State) (Zip)
1. Name and Address of Reporting Person*
BRF Investments, LLC

(Last) (First) (Middle)
11100 SANTA MONICA BLVD.,
SUITE 800

(Street)
LOS ANGELES CA 90025

(City) (State) (Zip)
1. Name and Address of Reporting Person*
RILEY BRYANT R

(Last) (First) (Middle)
11100 SANTA MONICA BLVD.,
SUITE 800

(Street)
LOS ANGELES CA 90025

(City) (State) (Zip)
Explanation of Responses:
1. This Form 4 is being filed jointly by B. Riley Financial, Inc., a Delaware corporation ("BRF"), B. Riley Securities, Inc., a Delaware corporation ("BRS"), BRF Investments, LLC, a Delaware corporation ("BRFI"), and Bryant R. Riley.
2. BRF is the parent company of BRS and BRFI. As a result, BRF may be deemed to indirectly beneficially own the shares held by BRS and BRFI.
3. Bryant R. Riley is the Co-Chief Executive Officer and Chairman of the Board of Directors of BRF. As a result, Bryant R. Riley may be deemed to indirectly beneficially own the shares of Common Stock directly held by BRS and BRFI. Each of BRF, BRS, BRFI, and Bryant R. Riley disclaims beneficial ownership of the outstanding shares of Common Stock reported herein, except to the extent of its/his respective pecuniary interest therein.
4. Represents shares held directly by Bryant R. Riley.
5. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.62 to $5.75, inclusive. The Filing Persons reporting person undertakes to provide to the Commission, upon request, full information regarding the number of shares purchased at each separate price.
6. Includes 121,688 shares received upon distribution from a limited partnership.
7. Includes 331 shares received upon distribution from a limited partnership.
B. Riley Financial, Inc., by: /s/ Bryant R. Riley, Co-Chief Executive Officer 05/13/2022
B. Riley Securities, Inc., by: /s/ Andrew Moore, Chief Executive Officer 05/13/2022
BRF Investments, LLC, by: /s/ Phillip Ahn, Authorized Signatory 05/13/2022
Bryant R. Riley, by: /s/ Bryant R. Riley 05/13/2022
** 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).
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