Company: KW
Filing Date: 2025-03-03
Form Type: 424B3
Source: 0001408100-25-000092
Chunk: 169

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-03-03
Form: 424B3
Chunk 169
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 years ended December 31, 2024, 2023 and 2022 were net-share settled such that the Company withheld shares with values equivalent to the employees’ minimum statutory obligations for the applicable income and other employment taxes, and remitted the cash to the appropriate taxing authorities. The total shares withheld during the years ended December 31, 2024, 2023 and 2022 were 131,116 shares, 781,303 shares, and 834,911 shares respectively, and were valued based on the Company’s closing stock price on the respective vesting dates. During the years ended December 31, 2024, 2023 and 2022, total payments for the employees’ tax obligations to the taxing authorities were $1.6 million, $13.4 million, and $18.6 million respectively. These figures are reflected as a financing activity on the accompanying consolidated statements of cash flows.

During the years ended December 31, 2024, 2023 and 2022, Kennedy Wilson recognized $23.6 million, $34.5 million, and $29.0 million, respectively, of compensation expense related to the vesting of restricted common stock and is included in compensation and related expense in the accompanying consolidated statements of income.

The following table sets forth activity under the Amended and Restated Plan, the First Amended and Restated Plan, and the Second Amended and Restated Plan for the Company's fiscal years ending December 31, 2024, 2023 and 2022:

|                                |     | Shares |           |
| Nonvested at December 31, 2022 |     |        | 1,700,558 |
| Granted                        |     |        |   961,045 |
| Vested                         |     |        |  -781,303 |
| Forfeited                      |     |        |  -267,031 |
| Nonvested at December 31, 2023 |     |        | 1,613,269 |
| Granted                        |     |        |   412,148 |
| Vested                         |     |        |  -131,116 |
| Forfeited                      |     |        |         — |
| Nonvested at December 31, 2024 |     |        | 1,894,301 |

Non-NEO Deferred Compensation Program and Carried Interests Sharing Program

The Company maintains a deferred compensation program for certain employees of the