Company: WKC
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0000950170-25-058752
Chunk: 75

Company: WORLD KINECT CORP
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 75
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 the performance period would end on the date immediately prior to such Change of Control, (ii) the Committee would determine the actual level of achievement of performance goals based upon the Company’s audited or unaudited financial information or other information then available as the Committee deems relevant and (iii) the earned amount of performance awards continue to be subject to any service-based vesting conditions that remain in place. |
| No liberal Change of Control definition                   | The definition of Change of Control set forth in the 2025 Plan would require consummation, not just shareholder approval, of a merger or similar corporate transaction.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| No Dividends on Unvested Awards, Stock Options or SARs    | The Plan prohibits the payment of dividends or dividend equivalents on Options and SARs. Where permitted for other awards, dividends or dividend equivalent rights, if any, will be subject to the same vesting requirements and risk of forfeiture as the underlying award and will only be paid at the time those vesting requirements are satisfied.                                                                                                                                                                                                                                                                                                                                                                                                                   |
| Seven-year expiration                                     | No Option or SAR is permitted to be exercisable on or after the seven-year anniversary of the date of grant.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| Independent Administration                                | The Plan is administered by the Compensation Committee, which is composed entirely of directors who are “independent” within the meaning of the NYSE independence requirements and “non-employee directors” as defined in Rule 16b-3 under the Exchange Act.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |

Sum mary of the 2025 Plan Administration The Plan is to be administered by the Compensation Committee, which is comprised exclusively of non-management, independent directors, who serve at the discretion of the Board. In the absence of the Committee, the Plan is administered by the Board. The Committee would also be permitted to delegate its responsibilities and powers to any director, officer or employee it chooses, and such delegation may be revoked by the Committee at any time, provided that such persons may not take any action (i) with respect to awards held by “officers” of the Company (within the meaning of Rule 16a-1 under the Exchange Act) or independent directors, (ii) inconsistent with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), or (iii) inconsistent with applicable provisions of the Florida Business Corporation Act. Subject to the terms of the Plan, the Committee is authorized to (i) select eligible recipients, (ii