based on individual experience, expertise and performance. As discussed further below, our Compensation Committee engages Pearl Meyer & Partners, LLC (“Pearl Meyer”) as its compensation consultant. The following table sets forth each of the data points that our Compensation Committee uses in analyzing the competitiveness of our executive pay packages. In combination, these data points help to define our “competitive market” for executive compensation.
Survey and Proxy Peer Group Data
Oilfield Services and Air Transport Industry Proxy Peers (our “Proxy Peer Group”)
Represents a select group of comparable companies within the oilfield services and air transport industries, the majority of whom have global operations, are based in or have a significant presence in Houston, Texas, and are of a comparative size (from a global revenues perspective) to the Company. This group provides a direct comparison to NEOs at companies with which we compete for talent.
Oilfield Services Industry Survey
Multiple surveys reflecting compensation among oilfield services companies with revenues comparable to Bristow. These surveys provide industry-specific reference-point from a broader sample of companies and positions than those included in our Proxy Peer Group
General Industry Survey
Represents companies with revenues similar to Bristow across all industries to provide additional perspective on the broader market within which we compete for talent
As of the Record Date, our Proxy Peer Group referenced in the table above included each of the twenty companies listed below in decreasing order of global revenues for the most recently ended fiscal year for each such company.
Proxy Peer Group
Revenue (in millions)
Revenue (in millions)
Rowan Companies plc
McDermott International, Inc.
Noble Corporation plc
Air Transport Services Group, Inc.
Forum Energy Technologies, Inc.
Atlas Air Worldwide Holdings, Inc.
Newpark Resources, Inc.
Oceaneering International, Inc.
Oil States International, Inc.
Superior Energy Services, Inc.
Core Laboratories N.V.
Helix Energy Solutions Group, Inc.
Allegiant Travel Company
Diamond Offshore Drilling, Inc.
SEACOR Holdings Inc.
Bristow FY 2018 Global Revenues
Proxy Peer Group Median
Our Performance Peer Group
For purposes of measuring the Company’s TSR, which is a component used by our Compensation Committee to calculate the payout for one half of our long-term performance cash awards (see pages 37 to 39 of this proxy statement for more details regarding our Long-Term Equity and Performance Cash Incentive Compensation), the Compensation Committee uses the Simmons Group. We do not necessarily compete for executive talent with each of the companies within the Simmons Group. However, given the Company’s exposure to the energy industry, business model in terms of growth, margin and asset intensity as well as its financial policies, the Compensation Committee continues to believe that the Simmons Group provides the Compensation Committee with the best independently selected group of public companies from the offshore transportation services industry against which to measure TSR performance. As of the Record Date, the following six companies were included in the Simmons Group:
Solstad Offshore ASA
ERA Group Inc.
Seacor Holdings Inc.
If any of the companies within the Simmons Group was to restructure or file for bankruptcy during the applicable three-year performance period, then for purposes of measuring relative TSR performance at the end of such three-year performance period, such company would move to the last place in TSR performance rank order of the Simmons Group.
BRISTOW GROUP INC. – 2018 Proxy Statement – 32