Introducing the Kingfisher Performance Share Plan (KPSP)

The KPSP is awarded on a selective basis to those who have the most influence on delivering our strategy – typically, our Senior Leadership population.

The KPSP is designed to give you an opportunity to own part of Kingfisher, connecting you to our long-term success. It also aligns you with our ‘Powered by Kingfisher’ strategy.

How the KPSP works

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Grant

Kingfisher gives, or grants, you a KPSP Award of free share options. These aren't shares yet, but each share option gives you the right to acquire one share in the future.
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Vest

Typically, three years after the grant, and subject to relevant conditions being met, your Award vests and is available to exercise.
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Exercise

You'll then have just under seven years to turn your Award into shares before it expires ('exercising your Award').
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Choose

Once you exercise your Award, you can choose to sell your shares, or keep them and become a Kingfisher shareholder!

Please note: while we give you the shares for free, please be aware they’re likely to be subject to tax (for more information on tax, see our KPSP brochure).

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Components of the KPSP

There are two kinds of KPSP Awards:

  • Restricted Share (RS) Award: this is restricted by time.
  • Performance Share (PS) Award: this is performance-based and the portion that becomes available is determined by the level of achievement against performance conditions attached to the Award.

Your role and grade determine the split between RS and PS as part of any Award you receive.

Awards typically become available (vest) after three years, providing you’re still a Kingfisher colleague and haven’t handed in your notice.

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How it's calculated

The size of your KPSP Award is based on:

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A percentage of your base salary
The average share price over three days before the grant

The 2024 KPSP journey1

1
1 February 2024
PS Award only: performance period begins.
2
25 March 2024
Company results announced.
3
25 April 2024
KPSP Award granted.
4
31 January 2027
PS only: Performance period ends.
5
Around March / April 2027
PS Award only: we assess the performance against targets and determine the level of vesting.
6
25 April 2027
KPSP Award vests – you can exercise your Award from this date. For the PS Award, the amount that vests is also determined by the level of achievement against performance conditions attached to the Award.
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7
25 March 2034
Deadline to exercise your Award. If you don't exercise between April 2027 and this date, your Award will expire and lapse.
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Dividends

Dividend payments2 are made between 25 April 2024 and when you exercise your Award.

1 This timeline will mirror most people’s typical journey, but there may be exceptions. If this applies to you, your Award Letter will set out the specific details.

2 You are not a shareholder until you exercise your Award, but we’ll treat you as such with dividends. You’ll accrue the value of any dividends we pay to our shareholders, on your original Award. These will be given in the form of additional options each time a dividend is paid, and are subject to the same conditions as your original Award.

Accepting your Award

Take action

To benefit from your KPSP Award, you must accept it on your EquatePlus portal. This is a secure portal from Computershare, our share plan administrator.

You can find specific details about your Award by referring to your Award Letter, which you should have received via email.

You can also view and manage your Award, as well as any other Kingfisher share plan(s) you may be part of, on the EquatePlus portal and the EquateMobile app.

New to EquatePlus?

You’ll receive your EquatePlus login details from Computershare by email. You’ll need to complete some onboarding steps to activate your account before you can accept your Award. If you need help with your account, please contact Computershare using the contact details below.

1
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Visit Equateplus.com
or login to the EquateMobile app

2
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Once you’ve logged in, you’ll find a prompt on your home page in ‘Your Tasks’ to accept your KPSP Award

Want more detail?

In our KPSP brochure there’s more information such as:

  • A worked example
  • Your choices after three years
  • A tax overview
  • T&Cs
  • Performance measures
Kingfisher Performance Share Plan 2024 brochure cover
Download brochure

Enjoy the perks of being a shareholder

By being granted a KPSP Award, you have the chance to become a shareholder in the future. At that point, you’ll own part of Kingfisher and enjoy all the benefits of being a shareholder.

  • If you choose to exercise your Award and hold your shares in the ShareStore, you’ll get a share of our profits — known as dividends — whenever we pay these to our shareholders.
  • You can also have your say on important company matters, such as company policy and key decisions as to how it’s governed, by voting at our General Meetings.

Watch our video for more about the benefits of being a Kingfisher shareholder.

Additional resources

Plan Rules
Malus and Clawback Policy
Group Share Dealing Policy

Support

If you want to find out more about your KPSP, or require support, you can contact the Share Plans Team by emailing

shareplan.enquiries@kingfisher.com

Need help with EquatePlus?

Computershare, our share plans administrator, will be happy to help.
Call them on our dedicated helpline (Sunday 10pm – Friday 10pm CET):

0808 234 3577

Disclaimer

  • Your KPSP doesn’t form part of or affect your contract of employment or your employment relationship and doesn’t give you the right to continued employment.
  • A KPSP Award does not form any part of your remuneration and is not pensionable.
  • Being selected for a KPSP Award in any given year doesn’t mean that you’ll be considered for any future KPSPs.
  • The KPSP Rules include specific conditions under which you waive any claims to any compensation or other benefit in respect of the KPSP when you leave employment.
  • This guide describes the main features of the KPSP and how it works but does not override the terms and conditions within the Rules, or any relevant legislation.
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