Form 4: Kennedy-Wilson Holdings CEO Sells Shares to Cover Tax Obligations

Kennedy-Wilson Holdings CEO, William J. McMorrow, sold shares to cover tax obligations related to vesting restricted stock awards, with no shares sold by the reporting person.

Summary

• William J. McMorrow, CEO of Kennedy-Wilson Holdings, sold a total of 26,398 shares of common stock on January 19th and 20th, 2025.
• The sales were executed at a price of $9.2 per share.
• These transactions were conducted to satisfy tax withholding requirements associated with the vesting of time-based restricted stock awards.
• The reporting person did not sell any shares for personal gain.
• Following these transactions, Mr. McMorrow directly owns 3,348,561 shares of common stock.
• He also indirectly owns 7,849,517 shares through the William J. McMorrow Revocable Trust, 8,443 shares through the John & Sons Retirement Trust, and 90,851 shares through his wife.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction for tax purposes, which is neither positive nor negative for the company's performance. The sentiment is neutral to slightly positive as it indicates the vesting of stock awards, which is a form of compensation.

Management Comments

• The shares were sold to satisfy applicable tax withholding requirements on vesting of time-based vesting restricted stock awards.
• No shares were sold by the reporting person for personal gain.

Industry Context

This type of transaction is common for executives who receive stock-based compensation, as they often need to sell shares to cover the associated tax liabilities.

Comparison to Industry Standards

• Executives selling shares to cover tax obligations is a standard practice across many publicly traded companies.
• The amount of shares sold is typical for a vesting event of this type.
• The price of $9.2 per share is consistent with the market price at the time of the transaction.

Stakeholder Impact

• The share sales have a minimal impact on shareholders as they are related to tax obligations and not a change in the executive's view of the company's prospects.
• The transactions do not affect employees, customers, suppliers, or creditors.

Key Dates

Keywords

SEC Form 4, Beneficial Ownership, Stock Sale, Tax Withholding, Restricted Stock, Kennedy-Wilson Holdings, William J. McMorrow, CEO