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).

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) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 05/12/2023
	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
	Rule 10b5-1(c) Transaction Indication 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.

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	05/12/2023		P		75,000	A	$5.4285	371,788	D(4)
Common Stock, $0.01 par value per share	05/15/2023		P		22,179	A	$5.4808	393,967	D(4)
Common Stock, $0.01 par value per share	05/15/2023		P		2,342	A	$5.4805	36,075	I	By Bryant R. Riley, as UTMA custodian for Abigail Riley(1)(3)
Common Stock, $0.01 par value per share	05/15/2023		P		2,193	A	$5.4808	35,926	I	By Bryant R. Riley, as UTMA custodian for Charlie Riley(1)(3)
Common Stock, $0.01 par value per share	05/15/2023		P		2,188	A	$5.4808	33,935	I	By Bryant R. Riley, as UTMA custodian for Susan Riley(1)(3)
Common Stock, $0.01 par value per share	05/15/2023		P		2,188	A	$5.4808	35,923	I	By Bryant R. Riley, as UTMA custodian for Eloise Riley(1)(3)
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								7,444,465(5)	I	By B. Riley Securities, Inc.(1)(2)(3)
Common Stock, $0.01 par value per share								19,844,174(5)	I	By BRF Investments, LLC(1)(2)(3)

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

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) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

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) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

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) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* RILEY BRYANT R (Last) (First) (Middle) C/O B. RILEY FINANCIAL, INC. 21255 BURBANK BLVD, SUITE 400 (Street) WOODLAND HILLS CA 91367 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

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. Represents 4,587,934 shares of Common Stock previously held by BRS and subsequently transferred to BRFI.

	B. Riley Financial, Inc., by: /s/ Bryant R. Riley, Co-Chief Executive Officer	05/16/2023
	B. Riley Securities, Inc., by: /s/ Andrew Moore, Chief Executive Officer	05/16/2023
	BRF Investments, LLC, by: /s/ Phillip Ahn, Authorized Signatory	05/16/2023
	Bryant R. Riley, by: /s/ Bryant R. Riley	05/16/2023
	** 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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