8-KLeadership ChangesShareholder MattersRegulation FD+1

KKR & Co. Inc. 8-K Report, Executive Changes (Oct 6, 2021)

Filed October 6, 2021For Securities:KKRKKRTKKR-PDKKRS

Summary

KKR & Co. Inc. (KKR) has filed an 8-K report on October 6, 2021, primarily announcing the appointment of Evan Spiegel to its Board of Directors. This move, approved by written consent of the sole holder of Series I preferred stock, increases the total number of directors to fifteen. Mr. Spiegel's appointment is effective as of October 5, 2021, and he will receive standard compensation for non-executive directors, including a $90,000 annual retainer and eligibility for equity awards. He has also entered into a customary indemnification agreement. This strategic addition to the board signifies a potential expansion or diversification of KKR's governance and advisory capabilities. Investors should note that while the appointment is effective immediately, the details of any strategic impact or synergy from Mr. Spiegel's involvement will likely unfold over time. The company has also furnished a press release as an exhibit, providing further context for this board change. This information is furnished and not deemed filed under the Securities Exchange Act.

Key Highlights

  • 1Evan Spiegel appointed to KKR & Co. Inc.'s Board of Directors.
  • 2The appointment increases the total number of directors on the Board to fifteen.
  • 3Mr. Spiegel will receive a customary cash retainer of $90,000 as a non-executive director.
  • 4He is also eligible for annual equity awards granted to other non-executive directors.
  • 5Mr. Spiegel has entered into KKR's standard indemnification agreement for non-executive directors.
  • 6The appointment was approved by written consent of the sole holder of Series I preferred stock.
  • 7A press release detailing the appointment is furnished as an exhibit (Exhibit 99.1).

Frequently Asked Questions

Evan Spiegel is the co-founder and CEO of Snap Inc. His appointment to the KKR Board of Directors was approved by the company's Series I preferred stockholder. The specific strategic reasons for his appointment are not detailed in the 8-K filing, but typically such appointments bring valuable experience and insights to the board.

Mr. Spiegel will receive the customary compensation for non-executive directors at KKR, which includes a $90,000 annual cash retainer. He is also eligible to receive an annual equity award, similar to other non-executive directors, and has entered into a standard indemnification agreement.

Yes, this appointment increases the total number of directors on KKR's Board from fourteen to fifteen. This change was approved by the sole holder of the Series I preferred stock.

According to Item 7.01 (Regulation FD Disclosure) of the 8-K filing, the information furnished in this item and the accompanying press release (Exhibit 99.1) are not deemed 'filed' for purposes of Section 18 of the Securities Exchange Act of 1934, nor are they incorporated by reference into any other filing, unless expressly stated otherwise.