Company: KELYB
Filing Date: 2025-04-14
Form Type: DEF 14A
Source: 0001193125-25-080159
Chunk: 56

Company: KELLY SERVICES INC
Filing Date: 2025-04-14
Form: DEF 14A
Chunk 56
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     |                               |     |  4,865 |     |               |     |  3,699 |     |                               |     |  4,865 |     |               |     |  3,675 |     |               |     |  7,374 |

Restricted Stock The Committee considers restricted stock to be an effective vehicle to support the Company’s long-term compensation objectives:

| ● |     | alignment with shareholder interests; |

| ● |     | facilitate retention through an extended pro rata vesting structure; and |

| ● |     | support meaningful stock ownership. |

At its February 13, 2024 meeting, the Committee approved restricted stock grants for senior officers, including the named executive officers, which vest ratably over three years, as detailed in the Summary Compensation Table and the Grants of Plan Based Awards Table. This grant of restricted shares represents 25% for the CEO and 40% for all other senior officers’ target long-term incentive grant. The Company believes that restricted stock is an important component of total compensation for our named executive officers and the three-year, pro rata vesting feature supports the Company’s retention objective. Any remaining unvested portion of restricted stock awards is forfeited upon voluntary termination, normal retirement, and involuntary termination for cause or not for cause, unless termination not for cause is in connection with a change in control. In the case of termination not for cause in connection with a change in control, all restricted stock shares or units vest immediately. Restricted stock is prorated in the event of termination due to death or disability. Special Awards In 2024, there were special recognition awards made to Messrs. Quigley and Malan and to Ms. Soares to recognize their performance during the ongoing business transformation efforts. The Committee approved a grant of restricted stock valued at approximately $200,000 for each of these three officers. These shares will cliff vest on the second anniversary date of the grant, which was made on October 15, 2024. Mr. Anderson received an award of restricted stock on October 15, 2024, with a grant date fair value of $3,500,000 in connection with his joining Kelly as Chief Financial Officer. The grant value of this award considered the outstanding incentive awards that Mr. Anderson would be forfeiting and was structured to be an inducement for him to join the Company. This award vests in two equal installments: 50% on the first anniversary of the grant date; and