Amendment: World Kinect Corporation filed SEC Form 8-K: Leadership Update
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Explanatory Note
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
As previously disclosed on the Original Form 8-K filed, the Board of Directors (the “Board”) of the Company appointed Ira M. Birns, the Company’s then current Executive Vice President and Chief Financial Officer, as President and Chief Financial Officer, and appointed John P. Rau, the Company’s then current Executive Vice President, Global Aviation, Land and Marine, as Chief Operating Officer.
On June 5, 2025, the Compensation Committee of the Board granted promotion awards for Messrs. Rau and Birns. Each of the awards consists of performance-based restricted stock units with a grant date fair value of $700,000. The award will be earned only if the Company achieves a pre-determined average adjusted earnings per share goal for a three-year performance period ending December 31, 2027, and the recipient remains employed with the Company through June 5, 2028. The awards will otherwise be subject to the terms and conditions of the applicable award agreement, and will be subject to the terms and conditions of the Company’s Clawback Policy.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Date: June 11, 2025
| World Kinect Corporation | ||
| /s/ Joel M. Williams | ||
| Joel M. Williams | ||
| Assistant Corporate Secretary | ||