Company: WKC
Filing Date: 2025-10-28
Form Type: 8-K
Source: 0001193125-25-253809
Chunk: 1

Company: WORLD KINECT CORP
Filing Date: 2025-10-28
Form: 8-K
Item: Item 5.02
Chunk 1
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 Stem, Inc. (NYSE: STEM), a global leader in artificial intelligence driven clean energy solutions and services. In connection with his appointment to Chief Executive Officer, Mr. Birns’ salary will be increased to a rate of $900,000 per year, effective January 1, 2026. For 2026, Mr. Birns will also be entitled to an annual target bonus opportunity of $1,100,000 and an annual target long-term incentive award opportunity of $2,250,000, in each case to be based on terms and subject to conditions to be determined by the Compensation Committee. Mr. Birns is not a party to any transaction that would require disclosure under Item 404(a) of Regulation S-K.

In connection with Mr. Birns’ appointment as Chief Executive Officer on January 1, 2026, on December 31, 2025, Michael J. Kasbar will step down from his position as Chief Executive Officer and thereafter will continue to serve as Chairman of the Board in an Executive Chairman capacity. In connection with his Executive Chairman role, Mr. Kasbar will be entitled to receive a salary of $850,000 per year, effective January 1, 2026. For 2026, Mr. Kasbar will also be entitled to an annual target bonus opportunity of $1,150,000 and an annual target long-term incentive award opportunity of $2,200,000, in each case to be based on terms and subject to conditions to be determined by the Compensation Committee.

On October 22, 2025, the Board appointed John Rau, the Company’s current Chief Operating Officer, as President, effective January 1, 2026. Previously, Mr. Rau, age 62, served as the Company’s Executive Vice President of Global Aviation and Marine from 2016 to 2025 and assumed responsibility for Global Land in 2022. Previously, he served as the Company’s Executive Vice President of Aviation from 2014 and as the Company’s Senior Vice President of Aviation Americas from 2011 to 2014. Prior to joining the Company, Mr. Rau held leadership roles at American Airlines and United Airlines, including as Managing Director at American Airlines from 1995 to 2011, where he was responsible for the purchase and management of jet fuel, utilities, deicing fluids, and transportation, as well as management of American Airlines’ supplier diversity program. In connection with his appointment to President, Mr. Rau’s salary