Form 4: Kennedy-Wilson Holdings CEO William McMorrow Receives Stock Grant

William McMorrow, Chairman and CEO of Kennedy-Wilson Holdings, was granted 365,491 shares of restricted stock units on January 29, 2025.

Summary

• On January 29, 2025, William J. McMorrow, Chairman and CEO of Kennedy-Wilson Holdings, received a grant of 365,491 time-based restricted stock units.
• These restricted stock units were granted under the company's Second Amended and Restated 2009 Equity Participation Plan.
• The restricted stock units will vest in three equal annual installments, starting on the first anniversary of the grant date.
• Following the transaction, McMorrow directly owns 3,714,052 shares of common stock.
• McMorrow 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 standard executive compensation practice, which is generally viewed neutrally to positively as it aligns management and shareholder interests.

Positives

• The grant of restricted stock units aligns the CEO's interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the CEO.

Future Outlook

Performance-based restricted stock units that were awarded on the same date will be reported by the reporting person as such units vest.

Industry Context

Equity compensation is a common practice for aligning management's interests with those of shareholders in publicly traded companies.

Comparison to Industry Standards

• Equity grants to CEOs are a standard practice in publicly listed companies like Kennedy-Wilson Holdings.
• Companies such as Blackstone and Brookfield Asset Management also utilize equity-based compensation to incentivize their executives.
• The size and vesting schedule of the grant are typical for executive compensation packages in the real estate investment industry.

Stakeholder Impact

• The grant of restricted stock units aligns the CEO's interests with those of the shareholders, potentially leading to increased shareholder value.
• The vesting schedule encourages long-term commitment from the CEO, which can benefit employees and other stakeholders.

Next Steps

• The restricted stock units will vest in three equal annual installments beginning on the first anniversary of the grant date.
• Performance-based restricted stock units that were awarded on the same date will be reported by the reporting person as such units vest.

Key Dates