Regina Finnegan
Kennedy-Wilson HoldingsAbout Regina Finnegan
Regina Finnegan is Executive Vice President of Global Risk Management and Human Resources at Kennedy-Wilson Holdings, Inc. (KW), a role she has held since 2017, overseeing global risk management and insurance programs across operational, real estate ownership and development risks, and leading all human resources functions worldwide . She is 60 years old as of April 18, 2025 and is listed among KW’s executive officers in the 2025 proxy . Prior to KW, she was an Executive Vice President at Willis Towers Watson (WTW), overseeing the West Coast real estate, hospitality, and gaming practice and managing clients across multifamily, office, industrial, retail, hospitality, and gaming sectors; she holds a B.S. in City/Urban, Community and Regional Planning from USC and serves externally on USC’s Lusk Center Executive Committee and as a CAP Mentor for USC Marshall . KW’s executive compensation design emphasizes pay-for-performance with performance-based RSUs tied to relative TSR (vs. MSCI World Real Estate index) and ROIA hurdles, with strict absolute TSR modifiers that cap payouts if absolute TSR hurdles aren’t met; 2024 say-on-pay received ~89% approval, indicating shareholder support for the compensation framework .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Kennedy-Wilson Holdings, Inc. | EVP, Global Risk Management & Human Resources | Since 2017 | Oversees global risk management and insurance; leads HR including recruiting, development, and directing global workforce |
| Willis Towers Watson (WTW) | Executive Vice President | Not disclosed | Oversaw West Coast real estate, hospitality, gaming practice; managed clients across multifamily, office, industrial, retail, hospitality, and gaming |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| USC Lusk Center for Real Estate | Executive Committee member | Not disclosed | Industry engagement; supports real estate thought leadership |
| USC Marshall School of Business | CAP Mentor | Not disclosed | Mentoring future business leaders |
Fixed Compensation
- Specific base salary, target bonus %, and actual bonus for Ms. Finnegan are not disclosed; KW provides detailed compensation tables for Named Executive Officers (NEOs), and Ms. Finnegan is not listed among NEOs for FY2024 (NEOs: CEO, President, CFO, General Counsel, President Europe) .
Performance Compensation
Company LTIP design (applies to NEOs; participation expanded to broader senior management):
| Vehicle / Metric | Weighting | Hurdles / Targets | Absolute TSR Modifier | Vesting |
|---|---|---|---|---|
| Relative TSR RSUs | 1/3 of award | vs. MSCI World Real Estate (GICS 1) Net TR Index; Threshold -1200 bps (25%), Target +0 bps (50%), Maximum +1200 bps (100%) | Maximum reduced to 75% if absolute TSR < 20% | Cliff vests 3 years after grant; 3-year post-vesting holding |
| ROIA RSUs | 1/3 of award | Annual ROIA hurdles: Threshold +4.8%, Target +5.2%, Maximum +5.6% | Maximum reduced to 75% unless absolute TSR >= 7% (by 12/31/2024), 14% (by 12/31/2025), 21% (by 12/31/2026) | Annual vesting over 3 years; 3-year post-vesting holding |
| Retentive RSUs | 1/3 of award | Time-based retention (no performance metric) | Not applicable | Pro-rata annual vesting over 3 years; earned shares held for 3 years |
2024 LTIP outcomes (company-wide NEO program; indicative of rigor):
| Metric | 2024 Actual Earned |
|---|---|
| Relative TSR RSUs | 0% earned (below threshold) |
| ROE RSUs (legacy awards) | 39.6% earned |
| ROIA RSUs | 100% earned |
| Aggregate performance-based RSUs | ~70% forfeited by NEOs, evidencing rigorous hurdles |
Annual bonus program (2024 focus metrics used by KW to align with strategy; weights not disclosed):
| Metric | Description |
|---|---|
| Growth in Investment Management Fees | Aligns incentives with expansion of the investment management platform |
| Cash from Asset Sales | Capital recycling and deleveraging |
| Unsecured Debt Reduction | Balance sheet strength |
| Asset Stabilizations | Increases in net operating income through stabilization |
Policy and plan guardrails:
- Minimum one-year vesting on all equity grants; no dividends on unvested equity; no option/SAR repricing or cash buyouts without shareholder approval .
- Broad clawback policy applies to equity awards and cash compensation .
- Mandatory three-year post-vesting holding period on all KW equity awards granted to NEOs; executive officers must also hold restricted stock and RSU-paid shares for three years post-vesting per ownership policy .
Equity Ownership & Alignment
| Metric | 2024 (as of 4/16/2024) | 2025 (as of 4/15/2025) |
|---|---|---|
| Beneficial shares | 86,941 | 145,189 |
| Ownership % of common | <1% | <1% |
- Includes 44,163 shares held by The Finnegan Family Trust; performance-based RSUs granted to Ms. Finnegan are excluded from the beneficial ownership table footnote .
- Minimum ownership guidelines: Other Executive Officers must hold equity equal to 1.5x base salary; as of 12/31/2024, executive officers were in compliance (except one new appointee still in grace period). Executives must hold all restricted stock and shares from vested RSUs for three years post-vesting; non-employee directors have a 3x annual retainer guideline .
- Strict anti-hedging and anti-pledging policies in effect, reducing misalignment risk from hedging or collateral pledges .
Employment Terms
- Role and scope: EVP of Global Risk Management & Human Resources; oversees risk management/insurance across KW’s global portfolio and leads worldwide HR functions .
- Start date in current role: 2017 .
- Non-compete, severance, and change-of-control terms: Not disclosed for Ms. Finnegan specifically; company-wide equity plan grants the Board discretion on award treatment upon change-of-control, subject to plan limitations (e.g., adjustments, potential acceleration) .
- Ownership/insider-trading policies: Mandatory three-year post-vesting holding; strict anti-hedging and anti-pledging; broad clawback .
Investment Implications
- Alignment: Strong structural alignment via three-year post-vesting holding, ownership guidelines (≥1.5x base salary for other executive officers), and strict anti-hedging/anti-pledging—likely moderates near-term insider selling pressure and supports long-duration ownership behavior .
- Pay-for-performance rigor: 2024 outcomes (0% TSR RSUs earned; ~70% of performance RSUs forfeited overall) indicate high performance hurdles; ROIA focus and absolute TSR modifiers tighten payout conditions, signaling discipline and reduced windfall risk .
- Governance signals: 89% say-on-pay approval in 2024 and stockholder-friendly plan features (no repricing/cash buyouts; minimum vesting) support investor confidence in compensation oversight .
- Data gaps: Absence of Ms. Finnegan’s specific cash compensation, bonus formulas/weights, and award-level vesting details limits precision in individual pay-for-performance benchmarking; analysts should monitor future disclosures (e.g., 8-K Item 5.02 updates or proxy supplements) for any changes affecting severance, change-of-control, or retention incentives .