Form 4: KKR Co-CEO Joseph Bae's Family Trust Acquires Shares

KKR Co-Chief Executive Officer Joseph Y. Bae's family trust acquired 1,592 shares of KKR & Co. Inc. common stock from other family members for $227,250.04, effective August 8, 2025.

Summary

• Joseph Y. Bae, Co-Chief Executive Officer and Director of KKR & Co. Inc., reported a change in beneficial ownership of KKR common stock.
• A trust established for the benefit of certain of Bae's family members acquired 1,592 shares of KKR common stock.
• The shares were acquired from other family members of the Reporting Person.
• The transaction involved the transfer of limited liability company membership interests in an LLC holding KKR common stock.
• The trust paid an aggregate of $227,250.04 for these interests, implying a price of approximately $142.75 per share.
• The transaction is scheduled for August 8, 2025, and was made pursuant to a Rule 10b5-1(c) plan.
• Following this transaction, Joseph Bae's total beneficial ownership will be 18,328,904 shares of common stock, comprising 4,211,701 directly held and 14,117,203 indirectly held through various trusts and a limited partnership.

Sentiment

Score: 5

Explanation: The filing reports a routine, pre-planned insider transaction involving a transfer of shares between family members via a trust. It is neutral in terms of company performance or market sentiment.

Positives

• Shares remain within the beneficial ownership of the Reporting Person's family, indicating continued long-term alignment with the company's performance.

Risks

• No new company-specific risks were disclosed in this filing.

Future Outlook

The transaction is a pre-planned acquisition under Rule 10b5-1(c) scheduled for August 8, 2025, indicating a long-term financial planning strategy rather than a reaction to immediate market conditions.

Management Comments

• Joseph Y. Bae, through his attorney-in-fact, disclaims beneficial ownership of indirectly held securities except to the extent of his pecuniary interest therein, as per Rule 16a-1(a)(4).

Industry Context

This Form 4 filing is a routine insider transaction disclosure for a major global investment firm. It reflects an internal family financial planning event for a key executive and does not provide insights into KKR's operational performance or broader industry trends in private equity or asset management.

Comparison to Industry Standards

• This filing details a personal financial transaction of an executive and does not contain information comparable to industry operational or financial benchmarks. It is a standard disclosure for insider ownership changes.

Related Party Transactions

• A trust for the benefit of Joseph Y. Bae's family members acquired shares from other family members, constituting a transaction between related parties.

Stakeholder Impact

• No direct impact on customers, suppliers, or creditors is indicated.
• Shareholders may view the continued beneficial ownership by the Co-CEO's family as a sign of long-term alignment, though the transaction itself is an internal family matter and not a market purchase or sale.

Next Steps

• The transaction is scheduled to occur on August 8, 2025.

Key Dates

Keywords

KKR, Joseph Bae, SEC Form 4, Insider Transaction, Beneficial Ownership, Equity Acquisition, Family Trust, 10b5-1 Plan, Private Equity, Investment Management