Company: KW
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001408100-25-000115
Chunk: 209

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 209
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$10.9 $10.9 $10.9 $10.9 Common Stock(1)16.6 18.3 33.1 34.1 (1) The difference between declared and paid is the amount accrued on the consolidated balance sheets.    Share-based Compensation        During each of the three months ended March 31, 2025 and 2024, Kennedy Wilson recognized $6.3 million and $5.2 million of compensation expense related to the amortization of grant date fair values of restricted stock grants.   Common Stock Repurchase Program    On November 4, 2020, the Company's board of directors authorized an expansion of its existing $250.0 million share repurchase plan to $500 million.  Repurchases under the program may be made in the open market, in privately negotiated transactions, through the net settlement of the Company’s restricted stock grants or otherwise, with the amount and timing of repurchases dependent on market conditions and subject to the company’s discretion.     During the three months ended March 31, 2025, Kennedy Wilson did not repurchase any shares under the stock repurchase program.  During the three months ended March 31, 2024, Kennedy Wilson repurchased and retired 882,454 shares on the open market for $7.5 million under the stock repurchase program.         Generally, upon vesting, the restricted stock granted to employees is net share-settled such that the Company will withhold shares with value equivalent to the employees’ minimum statutory obligation for the applicable income and other employment taxes and remit the cash to the appropriate taxing authorities.  The restricted shares that vested during three months ended March 31, 2025 and 2024 were net-share settled. The total shares withheld during the three months ended March 31, 

23

Kennedy-Wilson Holdings, Inc.Notes to Consolidated Financial Statements(Unaudited)

2025 and 2024 were 712,446 shares and 129,011 shares, respectively.  During the three months ended March 31, 2025 and 2024, total payments for the employees’ tax obligations to the taxing authorities for the shares which were net-share settled were $6.7 million and $1.6 million, respectively.  These activities are reflected as a financing activity within Kennedy Wilson's consolidated statements of cash flows.    Accumulated Other Comprehensive (Loss) Income