Summary
KKR & Co. Inc. (KKR) announced a key addition to its Board of Directors. On December 31, 2021, Matthew Cohler was appointed as a new director. This appointment expands the Board's size to sixteen members, a change approved by KKR Management LLP, the sole holder of the Series I preferred stock. Mr. Cohler's appointment is accompanied by standard compensation arrangements for non-executive directors, including an annual cash retainer and an equity grant in the form of restricted stock units. Investors should note that this filing also includes a press release detailing this appointment, which is furnished as an exhibit. The core focus of this 8-K is the governance change and the onboarding of new board leadership.
Key Highlights
- 1Matthew Cohler appointed to the KKR & Co. Inc. Board of Directors, effective December 31, 2021.
- 2The Board of Directors size has been increased to sixteen members.
- 3Mr. Cohler will receive a prorated 2022 annual cash retainer of $110,000.
- 4Mr. Cohler received a prorated equity grant of 2,330 restricted stock units vesting on October 1, 2022.
- 5KKR Management LLP, as sole holder of Series I preferred stock, approved the board expansion and Mr. Cohler's appointment.
- 6KKR entered into its customary indemnification agreement with Mr. Cohler.
- 7A press release announcing Mr. Cohler's appointment is furnished as Exhibit 99.1.