Company: KELYB
Filing Date: 2025-04-14
Form Type: DEF 14A
Source: 0001193125-25-080159
Chunk: 80

Company: KELLY SERVICES INC
Filing Date: 2025-04-14
Form: DEF 14A
Chunk 80
---
 2020, the gain and loss on the investment in Persol Holdings represents the change in fair value of the investment during the periods presented and the related tax expense. |

| (12) | In 2022, the loss on foreign currency matters includes a $20.4 million loss on currency translation resulting from the substantially complete liquidation of the Company’s Japan entity, partially offset by a $5.5 million foreign exchange gain on the Japan entity’sUSD-denominatedcash balance. The foreign exchange gain is included in other (income) expense, net in the EBITDA calculation. |

| (13) | Loss on disposal in 2022 represents thewrite-offof the net assets of our Russian operations that were sold in the third quarter of 2022. |

| (14) | Gain on insurance settlement represents a payment received in the fourth quarter of 2021 related to the settlement of claims under a representations and warranties insurance policy purchased by the Company in connection with the acquisition of Softworld. |

| (15) | Customer dispute in 2020 represents anon-cashcharge in Mexico to increase the reserve against a long-term receivable from a former customer based on an updated probability of loss assessment. |

| (16) | Equity in net earnings of affiliate represents the Company’s proportional share of the operating results of the equity affiliate. |

As discussed in the CD&A section of this Proxy Statement, the five items listed below represent the most important financial measures we used to determine CAP for FY 2024.

| Most Important Performance Measures |
| Gross Profit                        |
| EBITDA $                            |
| EBITDA Margin                       |
| Revenue Growth                      |
| Stock Price                         |

The charts below show, for the past four years, the relationship of the Company’s TSR relative to the S&P 1500 Human Resources and Employment Services index, which reflects the Company’s industry sector, as well as the relationship between the CEO and non-CEOCAP and the Company’s TSR; the Company’s net earnings; and the Company’s non-GAAPadjusted EBITDA. Compensation in 2020 was impacted by the global pandemic. As a result, no annual cash payout was awarded to NEOs, and equity incentive awards were reduced by 50%.

| 75 |

Pay vs. Performance Pay vs. Performance

| 76 |

Proposal 3 – Vote to Approve the Kelly Services, Inc. 2025 Equity Incentive Plan. Introduction The Board believes that an equity-based incentive program is an important