Company: KELYB
Filing Date: 2025-04-14
Form Type: DEF 14A
Source: 0001193125-25-080159
Chunk: 59

Company: KELLY SERVICES INC
Filing Date: 2025-04-14
Form: DEF 14A
Chunk 59
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 section below.

| 59 |

Compensation Discussion and Analysis Governance of Executive Compensation Programs Executive Stock Ownership and Retention Requirements The Committee implemented minimum stock ownership and retention requirements to encourage meaningful stock ownership by the Company’s executives that aligns their interests more closely with shareholders’ interests. Annually, the Committee reviews the named executive officers stock holdings for achievement of the stock ownership requirements. The Committee periodically reviews the Executive Stock Ownership Requirements to ensure the design is consistent with current market practice and those of our peers, as determined by research performed by the Consultant. The requirements are expressed as a multiple of base salary for each level of senior officer, as shown in the table below.

| 2024 Minimum Stock Ownership Requirements |     |     |     |                       |
| Multiple of Base Salary                   |     |     |     |                       |
| CEO                                       |     | EVP |     | Other Senior Officers |
| 6x                                        |     | 3x  |     | 1x-1.5x               |

Under the ownership requirements, senior officers are required to hold (50%) of the after-taxshares acquired upon equity award vesting until compliance with the stock ownership requirements is achieved. Shares counted toward achievement of ownership requirements include: directly owned shares, shares held by family or trusts, and 100% of unvested restricted stock awards, restricted stock units, and earned unvested performance shares.

| 60 |

Compensation Discussion and Analysis Although there is not a fixed compliance period, it is likely that new senior officers will reach the requirements within five years from their start date. The Committee reviews each executive’s progress towards and compliance with the share ownership requirements on an annual basis. If the required level of ownership is not achieved within a reasonable period of time or an executive falls out of compliance with the requirements, the Committee can eliminate or adjust the amount of any future equity awards. Stock ownership levels must be maintained as long as the executive is employed by the Company as a senior officer and is subject to the terms of the Executive Stock Ownership Requirements. As of February 11, 2025, all named executive officers have met their stock ownership requirement. Incentive Compensation Recovery (“Clawback”) Policy The Company’s Clawback Policy applies to awards granted under the STIP and EIP on or after January 1, 2011 to officers of the Company who are subject to Section 16 of the Securities Exchange Act of 1934. In early 2019, the application of the Clawback Policy was broadened to include