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).