Summary
KKR & Co. Inc. (KKR) has announced the appointment of Ryan Stork as its new Chief Operating Officer, effective January 3, 2022. Mr. Stork brings extensive experience from BlackRock Inc., where he held significant leadership roles for over two decades, including Deputy COO and Chairman of Asia Pacific. This appointment signifies a strategic move to bolster KKR's operational leadership with a seasoned executive from a prominent financial institution. In connection with his new role, Mr. Stork will receive a base salary of $300,000, be eligible for discretionary bonuses, and receive an allocation of carried interest. Notably, he has been granted substantial equity awards, comprising 200,000 time-based restricted holdings units and 200,000 market condition restricted holdings units. These awards are subject to specific vesting schedules and performance conditions tied to KKR's stock price, aligning Mr. Stork's incentives with long-term shareholder value creation.
Key Highlights
- 1Appointment of Ryan Stork as Chief Operating Officer (COO) effective January 3, 2022.
- 2Mr. Stork has over 20 years of experience at BlackRock Inc., holding senior positions such as Deputy COO and Chairman of Asia Pacific.
- 3Stork's compensation package includes a $300,000 annual base salary, eligibility for annual discretionary bonuses, and carried interest.
- 4He was granted 200,000 time-based restricted holdings units with vesting over six years, starting April 1, 2022.
- 5He also received 200,000 market condition restricted holdings units with performance-based vesting tied to KKR's stock price reaching targets between $100 and $140.
- 6Both equity award types are subject to continued service and retention requirements.
- 7Mr. Stork will be permitted to invest his own capital in KKR's funds.