Company: KW
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0000950170-25-058797
Chunk: 51

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 51
---
 ROIA Performance and Relative TSR Restricted Stock Unit Awards at Year-End 2024

Based on our relative TSR performance through December 31, 2024, none of our relative TSR RSUs were earned as a result of our rigorous relative TSR performance hurdles. Based on 2024 performance, only 39.6% of our ROE RSUs were earned (granted in 2022 and 2023) and 100% of our ROIA RSUs were earned. In total, the NEOs forfeited approximately 70% of all performance-based RSUs that were eligible to vest during the year-ended December 31, 2024 substantiating the rigorous performance hurdles under the Company's long-term incentive program.

Key Terms of the Retentive Restricted Unit Stock Awards

Under the terms of the 2024 RSU awards granted to our NEOs, the retentive RSUs vested one-third (1/3) on February 16th of 2025 and are scheduled to vest one-third on February 16th of each of 2026 and 2027, subject to the NEO’s continued employment through the vesting date (except as otherwise described below). Any shares issued pursuant to vested awards will be subject to an additional post-vesting holding period through the third anniversary of the applicable vesting date.

Other Material Terms of 2024 Restricted Stock Unit Awards

Termination of Service.If an NEO’s employment terminates by reason of the NEO’s death or disability, the retentive RSUs will become fully vested upon such death or disability. In addition, if an NEO’s employment terminates due to his or her death or disability, then any then-unvested relative TSR RSUs and ROIA RSUs will remain outstanding and eligible to vest on each subsequent vesting date (without regard to the requirement that such NEO continue in employment through such vesting date) based on the level of attainment of the applicable performance goal(s) following such NEO’s death or disability.

Change of Control. In the event of a Change of Control of the Company (as defined in the Company’s Second Amended and Restated 2009 Equity Participation Plan), all then-unvested RSUs (assuming the performance metrics applicable to the relative TSR and ROIA RSUs are attained at target) will vest in full as of the date of the Change of Control, subject to the executive’s continued employment until immediately prior to the Change of Control.

No-Sale Period; Transferability. The RSUs generally will not be