Company: KW
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001408100-25-000179
Chunk: 263

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 263
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1.50 to 1.00 and have unencumbered assets of no less than 125% of its unsecured indebtedness (as defined in the trust deed).  As of September 30, 2025, KWE was in compliance with these covenants, and, as of the date of this report, all KWE Notes have been redeemed and no KWE Notes remain outstanding.  Please also see "Subsequent Events."

NOTE 11—EQUITY

Dividend Distributions    Kennedy Wilson declared and paid the following cash distributions on its preferred and common stock:Nine Months Ended September 30, 2025Nine Months Ended September 30, 2024(Dollars in millions)DeclaredPaidDeclaredPaidPreferred Stock$32.6 $32.6 $32.6 $32.6 Common Stock(1)49.7 51.5 66.1 83.7 (1) The difference between declared and paid is the amount accrued on the consolidated balance sheets.    Share-based Compensation        During each of the nine months ended September 30, 2025 and 2024, Kennedy Wilson recognized $19.3 million and $17.3 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 nine months ended September 30, 2025, Kennedy Wilson repurchased 393,493 shares on the open market for $2.5 million under the stock repurchase program. During the nine months ended September 30, 2024, Kennedy Wilson repurchased and retired 1,565,775 shares on the open market for $13.4 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