Company: WKC
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0000950170-25-058752
Chunk: 78

Company: WORLD KINECT CORP
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 78
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 stock option is a right to purchase shares of Stock upon exercise of the stock option and a SAR entitles the participant to receive, upon its exercise, a payment equal to (i) the excess of the fair market value of a share of Stock on the exercise date over the SAR exercise price, times (ii) the number of shares of Stock with respect to which the SAR is exercised.

The Committee is authorized to grant options to purchase our Stock that qualify as incentive stock options for purposes of Section 422 of the Code (“ISOs”), which can result in potentially favorable tax treatment to the participant, non-qualified stock options and SARs, which entitle the participant to receive the amount by which the fair market value of a share of

| 84 | World Kinect 2025 Proxy Statement |

| Proposal 4 |

Stock on the date of exercise exceeds the exercise price of the SAR. Only employees of the Company or any of its subsidiaries are eligible to be awarded an ISO. The exercise price per share subject to an option and the exercise price of a SAR is determined by the Committee, but may not be less than the fair market value of a share of Stock on the date of grant, except with respect to substitute awards. For purposes of the Plan, the fair market value of a share of Stock as of any given date is the closing price of the Stock on that date on the principal exchange or market on which the Stock is then listed or admitted to trading; if the grant date is not a trading day, the fair market value is the closing price per share of Stock on the most recent trading day prior to that date. The maximum term of each option or SAR, the times at which and the manner in which each option or SAR will be exercisable, and provisions requiring forfeiture of unexercised options or SARs at or following termination of employment generally is fixed by the Committee, provided, however, that in no event may an option or SAR remain exercisable on or after the seven-year anniversary of the date of grant.

Stock-Based Awards and Cash Incentive Awards

Stock-based awards (other than Options and SARs) would consist of (1) stock unit awards, which are vested awards that entitle the participant to receive shares of Stock in the future; (2) RSAs, which are shares of Stock that are subject to forfeiture or other restrictions that would lapse upon the achievement of one or more goals relating to completion of service, performance or other objectives; (3) RSU awards, which entitle the