Company: WKC
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0000950170-25-058752
Chunk: 45

Company: WORLD KINECT CORP
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 45
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-paid individual disability insurance coverage and executive life insurance coverage that is available for all officers at the vice president level and above, plus, for Messrs. Kasbar and Birns, a portion of the cost of coverage for medical and dental insurance. Additionally, Messrs. Kasbar, Birns and Rau are provided with a country club membership to be used for business entertainment purposes and to facilitate business meetings.

The total amount of employee benefits and executive perquisites provided to the NEOs during 2024 represents only a small percentage of each NEO’s total compensation and is comprised of those benefits which we believe are necessary to attract and retain executives. We believe that these benefits and perquisites are competitive in our industry and consistent with our overall compensation philosophy.

Retirement and Deferred Compensation

We maintain the World Kinect Corporation 401(k) Profit Sharing Plan (“401(k) Plan”) to enable eligible employees to save for retirement through a tax-advantaged combination of elective employee contributions and our matching contributions. The 401(k) Plan allows eligible employees, including our NEOs, to elect to contribute a percentage of their eligible compensation, up to the maximum dollar amounts permitted by law. In 2024, the maximum employee elective contribution to the 401(k) Plan was $23,000, plus an additional $7,500 for employees who were at least 50 years old in 2024. For 2024, we matched 50% of the first 6% of eligible compensation that each eligible participant elected to contribute to the 401(k) Plan.

We do not maintain any pension, supplemental executive retirement plan or other defined benefit retirement plans for our NEOs. However, we do permit that our NEOs participate in the non-qualified deferred compensation plan, or NQDCP, that we offer to other senior employees based in the United States. As discussed under “Non-Qualified Deferred Compensation” later in this proxy statement, pursuant to the NQDCP, participants may defer up to 75% of their base salary and up to 90% of any annual cash incentive award, on a pre-tax basis, and an additional amount equal to any “excess contributions” that are refunded to them from the 401(k) Plan. We do not match any participant deferrals under the NQDCP.

| 60 | World Kinect 2025 Proxy Statement |

| Compensation Discussion and Analysis |

In addition, Mr. Kasbar also has a deferred compensation balance which arose as a result of his prior employment agreement that