Statement of Changes in Beneficial Ownership (Form 4)

FORM 4 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 that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES 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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(Print or Type Responses)

1. Name and Address of Reporting Person * BRC Group Holdings, Inc. 2. Issuer Name and Ticker or Trading Symbol Babcock & Wilcox Enterprises, Inc. [BW] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 11100 SANTA MONICA BLVD, SUITE 800 3. Date of Earliest Transaction (Month/Day/Year) 11/11/2026 (Street) LOS ANGELES, CA 90025 4. If Amendment, Date 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 (City) (State) (Zip) 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 11,873,160 I By BRF Investments, LLC(1)(2) Common Stock, $0.01 par value per share 15,573,362 I By B. Riley Securities, Inc.(1)(2) Common Stock, $0.01 par value per share 37,353 I Held in Bryant R. Riley's 401(k)account(1)(2) Common Stock, $0.01 par value per share 45,801 I By Bryant R. Riley, as UTMA custodian for Charlie Riley(3) Common Stock, $0.01 par value per share 11/11/2026 11/11/2026 P 60,000 A $4.9814 103,810 I By Susan Riley(3) Common Stock, $0.01 par value per share 11/11/2026 11/11/2026 P 35,000 A $4.9816 80,436 I By Bryant R. Riley, as UTMA custodian for Abigail Riley(3) Common Stock, $0.01 par value per share 11/11/2026 11/11/2026 P 35,000 A $4.9815 80,431 I By Bryant R. Riley, as UTMA custodian for Eloise Riley(3)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 Underlying Securities (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 of Derivative Security: 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

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
BRC Group Holdings, Inc. 11100 SANTA MONICA BLVD SUITE 800 LOS ANGELES, CA 90025		X
BRF Investments, LLC 11100 SANTA MONICA BLVD SUITE 800 LOS ANGELES, CA 90025		X
B. Riley Securities, Inc. 11100 SANTA MONICA BLVD SUITE 800 LOS ANGELES, CA 90025		X
RILEY BRYANT R 11100 SANTA MONICA BLVD., SUITE 800 LOS ANGELES, CA 90025		X

Signatures

BRC Group Holdings, Inc., by: /s/ Bryant R. Riley, Co-Chief Executive Officer		11/12/2026
**Signature of Reporting Person		Date
BRF Investments, LLC, by: /s/ Bryant R. Riley,		11/12/2026
**Signature of Reporting Person		Date
B. Riley Securities, Inc., by: /s/ Frank J. Pigott, General Counsel and Secretary		11/12/2026
**Signature of Reporting Person		Date
by: /s/ Bryant R. Riley		11/12/2026
**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(1)	This Form 4 is being filed jointly by BRC Group Holdings, Inc., a Delaware corporation ("BRC"), BRF Investments, LLC ("BRFI"), B. Riley Securities, Inc., a Delaware corporation ("BRS"), and Bryant R. Riley.
(2)	BRC is the parent company of BRFI and the majority shareholder of B. Riley Securities Holdings, Inc. ("BRSH"). BRS is a wholly owned subsidiary of BRSH. As a result, BRC may be deemed to indirectly beneficially own the shares held by BRFI and BRS. Bryant R. Riley is the Co-Chief Executive Officer and Chairman of the Board of Directors of BRC. As a result, Bryant R. Riley may be deemed to indirectly beneficially own the shares of Common Stock directly held by BRFI and BRS. Each of BRC, BRFI, BRS, 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.
(3)	Bryant R. Riley may also beneficially own (i) shares held for the benefit of Abigail Riley, (ii) shares held for the benefit of Charlie Riley, (iii) shares held for the benefit of Eloise Riley, (iv) shares held in an account of Susan Riley which has granted purchase and dispositive power to Bryant Riley, and (v) shares held in Bryant R. Riley's 401(k) account. Bryant R. Riley disclaims beneficial ownership and pecuniary interest in the shares held by the accounts noted in (3)(i)-(3)(iv).

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