Company: KW
Filing Date: 2025-01-31
Form Type: 8-K
Source: 0001408100-25-000039
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Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-01-31
Form: 8-K
Item: Item 5.02
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointments of Certain Officers; Compensatory Arrangement of Certain Officers.

On January 29, 2025, the Compensation Committee of the Board of Directors of Kennedy-Wilson Holdings, Inc. (the “ Company”) approved the entrance by the Company into carried interest award agreements (each, a “carried interest agreement”) with certain of the Company’s named executive officers (the “executives”) under its amended carried interest sharing program. Under the amended program, the Company is authorized to issue up to 50% (previously 35%) of any carried interest earned under certain of the Company’s commingled funds and separate account investments to its employees (including the executives). The following is a brief description of the material terms and conditions of the carried interest agreements.

General. Each carried interest agreement provides for the grant by the Company to the executive of one or more rights (each such right, a “carried interest award”) to receive a specified percentage of the carried interest (each, a “carried interest”) actually received by the Company and/or its subsidiaries under arrangements in certain of the Company’s funds and investment vehicles.

Vesting. Sixty percent of each carried interest award (the “time-vest tranche”) will vest in equal installments on each of the first four anniversaries of the vesting commencement date applicable to such carried interest award, subject to the executive’s continued employment with the Company and its affiliates through each applicable vesting date. The time-vest tranche of each carried interest award will vest in full upon the consummation of a “liquidity event” (as defined in the carried interest agreement), subject to the executive’s continued employment with the Company and its affiliates through the date of such liquidity event. The remaining forty percent of each carried interest award will vest upon the consummation of a liquidity event, subject to the executive’s continued employment with the Company and its affiliates through the date of such liquidity event.

Termination; Forfeiture. Upon termination of an executive’s employment for any reason, any unvested carried interest award (or portion thereof) as of the date of such termination will be cancelled and forfeited by the executive without any consideration therefor. If the applicable executive’s employment terminates for “cause” (as defined in the carried interest agreement), all carried interest awards (or portion thereof), whether or not vested as of the date of termination for cause, then held by