Company: KW
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001408100-25-000084
Chunk: 200

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 200
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20221,700,558 Granted961,045 Vested(781,303)Forfeited(267,031)Nonvested at December 31, 20231,613,269 Granted412,148 Vested(131,116)Forfeited— Nonvested at December 31, 20241,894,301 Non-NEO Deferred Compensation Program and Carried Interests Sharing Program The Company maintains a deferred compensation program for certain employees of the Company (the “Deferred Compensation Program”).  The named executive officers of the Company are not participants of the Deferred Compensation Program.  The compensation committee of the Company’s board of directors approves an amount annually to be allocated to certain employees of the Company in the United States and in Europe.  The amount allocated to each employee vests ratably over a three-year vesting period, subject to continued employment with the Company.  Prior to 2022, half of the allocated amount was tied specifically to the performance and value of the Company’s common stock at the time of each vesting (“Bonus Units”).  Beginning in 2022, the entire amount allocated to each employee consisted of Bonus Units.  Under the Deferred Compensation Program, at the time of each vesting, the employees receive an amount equal to either the dividend yield of the Company’s common stock or the actual amount of dividends paid on the Company common stock (in the case of Bonus Units) during the immediately preceding year on the amount that is subject to such vesting.  During the years ended December 31, 2024, 2023 and 2022 the Company recognized compensation expense of $6.4 million, $8.2 million and $9.2 million, respectively, under the Deferred Compensation Program.

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Table of ContentsKennedy-Wilson Holdings, Inc.Notes to Consolidated Financial Statements—(continued)December 31, 2024 2023 and 2022

The Company also maintains a carried interests sharing program for certain employees of the Company (the “Carried Interests Sharing Program”).  On January 29, 2025, compensation committee of the Company's board of directors recently approved, reserved and authorized increasing the pool available for the Company employees from thirty-five percent to fifty percent (50%) issue of any carried interests earned by certain commingled funds and separate account investments to be allocated to certain employees of the Company (including the Company's executive officers).  Sixty percent of the award