Company: KW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001408100-25-000147
Chunk: 256

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 256
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 with these covenants.

NOTE 11—EQUITY

Dividend Distributions    Kennedy Wilson declared and paid the following cash distributions on its preferred and common stock:Six Months Ended June 30, 2025Six Months Ended June 30, 2024(Dollars in millions)DeclaredPaidDeclaredPaidPreferred Stock$21.8 $21.8 $21.8 $21.8 Common Stock(1)33.1 34.9 49.6 67.2 (1) The difference between declared and paid is the amount accrued on the consolidated balance sheets.    Share-based Compensation        During each of the six months ended June 30, 2025 and 2024, Kennedy Wilson recognized $12.8 million and $11.2 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 six months ended June 30, 2025, Kennedy Wilson repurchased 393,493 shares on the open market for $2.5 million under the stock repurchase program. During the six months ended June 30, 2024, Kennedy Wilson repurchased and retired 1,551,955 shares on the open market for $$13.3 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 six months ended June 30, 2025 and 2024 were net-share settled. The total shares withheld during the six months ended June 30, 2025 and 2024 were 712,446 shares and 129,011 shares, respectively.  During the six months ended June 30, 2025 and 2024, total payments for the employees’