Company: KW
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0000950170-25-058797
Chunk: 77

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 77
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 the Third Amendment to the Company's Second Amended and Restated 2009 Equity Participation Plan

believes will adversely affect its ability to recruit, retain, and motivate employees through the use of long-term incentives. The following table sets forth information regarding historical awards granted for the 2022 through 2024 period:

|                                            |        2022 |        2023 |        2024 |
| Time-Based Awards Granted                  |     375,865 |     469,166 |   1,099,076 |
| Performance-Based Awards Granted(1)        |   1,203,457 |   1,480,664 |   1,855,548 |
| Performance-Based Awards Earned(2)         |   1,293,429 |           0 |     859,038 |
| Total Full-Value Awards Granted/Earned(3)  |   1,669,294 |     469,166 |   1,958,114 |
| Weighted Average Common Shares Outstanding | 136,900,875 | 138,930,517 | 137,778,812 |
| Annual Burn Rate                           |       1.22% |       0.34% |       1.42% |
| 3-Year Average Burn Rate                   |             |       0.99% |             |

(1) Performance-based awards “granted” reflects “target” performance-based awards granted in each fiscal year, which may be earned between 0% and 200%. (2) Performance-based awards “earned” reflects performance-based awards earned each fiscal year, regardless of if awards were granted in the form of restricted shares or restricted stock units. (3) Total full-value awards “granted”/”earned” is the sum of time-based awards granted and performance-based awards earned each fiscal year. No appreciation awards were granted in 2022-2024. Reasons for the Amendment

| Reasonable Plan Costs |

• Reasonable number of additional shares requested - 3,400,000 shares requested • Awards would not have a substantially dilutive effect (1.99% of fully diluted shares outstanding and approximately 2.46% of shares outstanding)

| Responsible Grant Practices |

• Average dilution over the prior three years was 0.99% of shares outstanding • At the time of our prior plan upsizing, the estimated duration of our share reserve was two years, however we were able to extend the duration