X0303 4 2011-02-04 0 0001063494 KBW, INC. KBW 0001380488 Duffy John G C/O KBW INC. 787 SEVENTH AVE. NEW YORK NY 10019 1 1 0 0 Director, Chairman and CEO Common Stock, par value $0.01 per share 2011-02-04 4 A 0 57835 0 A 666577 D Restricted Stock Award. This restricted stock award will vest one-third on February 23, 2012; one-third on February 23, 2013; and the remaining one-third on February 23, 2014. As described further in the restricted stock award agreements pertaining to such award: (i) vesting of each installment of shares is subject to the establishment and achievement of certain performance measures by KBW, Inc., (ii) vesting would accelerate upon a change in control, death or permanent disability, and (iii) any unvested shares would be forfeited upon certain termination events, including termination for any reason (as set forth in the KBW, Inc. 2009 Incentive Compensation Plan) but excluding retirement, subject to satisfaction of certain conditions precedent. By: /s/ Robert Giambrone, Attorney-in-Fact 2011-02-08