Company: WKC
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0000950170-25-058752
Chunk: 85

Company: WORLD KINECT CORP
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 85
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), materially and adversely affect in a material way the rights of any participant or beneficiary granted under the 2025 Plan prior to the date that the amendment is adopted by the Board, unless such amendment is made to comply with applicable law, or with tax, security exchange or accounting rules. The Board is permitted to so amend the 2025 Plan without further shareholder approval, except to the extent shareholder approval is required by law or regulation or under the rules of any securities exchange or quotation system on which shares of Stock are then listed or quoted. Thus, shareholder approval would not necessarily be required for every amendment to the 2025 Plan which might increase the cost of the 2025 Plan or alter the eligibility of persons to receive awards.

Effective Date of the 2025 Plan

The 2025 Plan will become effective on the date it is approved by the Company’s shareholders. No grants will be made under a Prior Plan on or after the date on which our shareholders approve the 2025 Plan. The 2025 Plan would remain in effect as long as any award under it is outstanding. However, no awards are permitted to be granted under the 2025 Plan after the tenth anniversary of the date the Plan was approved by our shareholders.

Federal Income Tax Consequences of Awards

The following is a brief summary of certain of the federal income tax consequences of certain transactions under the 2025 Plan based on federal income tax laws in effect. This summary, which is presented for the information of shareholders considering how to vote on this proposal and not for 2025 Plan participants, is not intended to be complete and does not describe federal taxes other than income taxes (such as Medicare and Social Security taxes), or state, local or foreign tax consequences. The Plan would not be qualified under the provisions of Section 401(a) of the Code and would not be subject to any of the provisions of the Employee Retirement Income Security Act of 1974, as amended.

| 88 | World Kinect 2025 Proxy Statement |

| Proposal 4 |

Nonqualified Stock Options

A non-qualified stock option results in no taxable income to the participant or deduction to the Company at the time it is granted. A participant exercising a non-qualified stock option will, at that time, realize taxable income (subject to withholding and employment taxes) in the amount equal to the excess, if any, of the then fair market value of the shares over the option exercise price. Subject to the applicable provisions of the Code, the Company will be entitled to a deduction for