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OMB APPROVAL
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OMB Number: 3235-0362
Expires: September 30, 1998
Estimated average burden
hours per response ....... 1.0
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 5
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
[ ] Form 3 Holdings Reported
[ ] Form 4 Transactions Reported
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1. Name and Address of Reporting Person*
McMorrow, William
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(Last, First Middle)
9601 Wilshire Builevard, Suite 220
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(Street)
Beverly Hills, California 90210
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(City, State Zip)
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2. Issuer Name and Ticker or Trading Symbol
Kennedy-Wilson, Inc. (KWIC)
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
December 31, 1998
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[ X ] Director [ X ] 10% Owner
[ X ] Officer (give title below) [ ] Other (specify below)
Chairman, President and CEO
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7. Individual or Joint/Group Filing
(Check applicable line)
[ X ] Form filed by one Reporting Person
[ ] Form filed by more than one Reporting Person
<PAGE>
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
4.
Securities Acquired (A) or
Disposed of (D)
(Instr. 3, 4 and 5)
2. 3. -----------------------------
1. Transaction Transaction (A)
Title of Security Date Code Amount or Price
(Instr. 3) (mm/dd/yy) (Instr. 8) (D)
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<S> <C> <C> <C> <C> <C>
(1)
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(2)
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(3)
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(4)
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(5)
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(6)
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(7)
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(8)
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(9)
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(10)
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(11)
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(12)
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(13)
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(14)
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(15)
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(16)
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(17)
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(18)
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(19)
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(20)
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(21)
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(22)
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(23)
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(24)
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(25)
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Table I (cont.) -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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5.
Amount of
Securities 6. 7.
Beneficially Ownership Nature of
Owned at End Form: Indirect
1. of Issuer's Direct (D) Beneficial
Title of Security Fiscal Year or Indirect Ownership
(Instr. 3) (Instr. 3 & 4) (I) (Instr.4) (Instr. 4)
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<S> <C> <C> <C>
(1)
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(2)
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(3)
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(4)
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(5)
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(6)
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(7)
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(8)
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(9)
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(10)
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(11)
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(12)
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(13)
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(14)
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(15)
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(16)
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(17)
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(18)
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(19)
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(20)
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(21)
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(22)
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(23)
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(24)
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(25)
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</TABLE>
* If the form is filed by more than one Reporting Person, see Instruction
4(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
<PAGE>
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Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
6.
Date
5. Exercisable and
2. 4. Number of Derivative Expiration Date
1. Conversion of Transaction Securities Acquired (A) (Month/Day/Year)
Title of Exercise 3. Code or Disposed of (D) ----------------
Derivative Price of Transaction (Instr. 8) (Instr. 3, 4 and 5) Date Expira-
Security Derivative Date (Month/ ------ ----------------------- Exer- tion
(Instr. 3) Security Day/Year) Code V A) (D) cisable Date
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<S> <C> <C> <C> <C> <C> <C> <C>
(1) Employee Stock 7.00(1) 4/27/98 A 12,500(1) 4/27/99 4/27/03
Option (right to
buy)
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(2) Employee Stock 7.00(1) 4/27/98 A 12,500(1) 4/27/00 4/27/03
Option (right to
buy)
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(3) Employee Stock 7.00(1) 4/27/98 A 12,500(1) 4/27/01 4/27/03
Option (right to
buy)
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(4)
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(5)
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(6)
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(7)
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(8)
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(9)
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(10)
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(11)
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(12)
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(13)
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(14)
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(15)
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(16)
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(17)
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(18)
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(19)
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(20)
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(21)
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(22)
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(23)
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(24)
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(25)
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<PAGE>
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Table II (cont.) -- Derivative Securities Acquired, Disposed of, or Beneficially
Owned (e.g., puts, calls, warrants, options, convertible securities)
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7.
Title and Amount
of Underlying
Securities 9. 10.
(Instr. 3 and 4) Number of Ownership of
---------------- Derivative Derivative 11.
1. Amount 8. Securities Security: Nature of
Title of or Price of Beneficially Direct Indirect
Derivative Number Derivative Owned (D) or B In- Beneficial
Security of Security at End of Month direct (I) Ownership
(Instr. 3) Title Shares (Instr. 5) (Instr.4) (Instr. 4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C>
(1) Employee Stock Common Stock 12,500(1)
Option (right to
buy)
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(2) Employee Stock Common Stock 12,500(1)
Option (right to
buy)
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(3) Employee Stock Common Stock 12,500(1) 127,500 D
Option (right to
buy)
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(4)
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(5)
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(6)
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(7)
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(8)
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(9)
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(10)
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(11)
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(12)
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(13)
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(14)
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(15)
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(16)
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(17)
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(18)
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(19)
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(20)
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(21)
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(22)
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(23)
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(24)
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(25)
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</TABLE>
<PAGE>
Explanation of Responses:
The reporting person was originally granted 25,000 options at an exercise price
of $10.50 per share on April 27, 1998. The number of options and price per share
reported are adjusted to reflect a stock split on December 15, 1998.
/s/ William McMorrow 2/16/99
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**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
Alternatively, this Form is permitted to be submitted to the Commission in
electronic format at the option of the reporting person pursuant to Rule
101(b)(4) of Regulation S-T.
