Summary
KKR & Co. Inc. (KKR) announced a significant addition to its Board of Directors with the appointment of Kimberly A. Ross on September 20, 2023. This appointment, approved by the sole holder of the Series I preferred stock, increases the total number of directors to fourteen. The addition of Ms. Ross, a seasoned professional, is expected to bring valuable expertise to the company's governance and strategic oversight. Ms. Ross's compensation for her role as a non-executive director includes a $130,000 annual cash retainer and an annual equity grant valued at $190,000. The equity grant, to be determined in restricted stock units on October 2, 2023, will vest on October 1, 2024. Investors can view the official announcement of this appointment through the furnished press release as Exhibit 99.1 to the 8-K filing.
Key Highlights
- 1Kimberly A. Ross appointed to KKR's Board of Directors effective September 20, 2023.
- 2Board size increased to fourteen directors.
- 3Appointment approved by written consent of the sole holder of Series I preferred stock.
- 4Ms. Ross to receive $130,000 annual cash retainer as a non-executive director.
- 5Ms. Ross to receive $190,000 annual equity grant (restricted stock units) vesting October 1, 2024.
- 6KKR entered into a customary indemnification agreement with Ms. Ross.
- 7Press release announcing the appointment furnished as Exhibit 99.1.