Form 4: KKR Director Robert W. Scully Receives Restricted Stock Units

KKR & Co. Inc. director Robert W. Scully was granted 1,238 restricted stock units on December 12, 2024, which will vest on December 1, 2025.

Summary

• Robert W. Scully, a director at KKR & Co. Inc., received 1,238 restricted stock units on December 12, 2024.
• These restricted stock units were granted under the company's 2019 Equity Incentive Plan.
• The units will generally vest on December 1, 2025, and each unit will convert into one share of KKR common stock upon vesting.
• Mr. Scully also indirectly owns 26,000 shares of common stock and 55,000 shares of common stock through a trust.

Sentiment

Score: 7

Explanation: The document reflects a routine grant of restricted stock units to a director, which is a normal part of executive compensation. There are no indications of any negative or unusual events.

Positives

• The grant of restricted stock units aligns the director's interests with those of the shareholders.
• The vesting period of approximately one year encourages long-term commitment.

Future Outlook

The restricted stock units will vest on December 1, 2025, at which point they will convert to common stock.

Management Comments

• The Reporting Person states that this filing shall not be an admission that the Reporting Person is the beneficial owner of any of the securities reported herein as indirectly held, and the Reporting Person disclaims beneficial ownership of such securities except to the extent of the Reporting Person's pecuniary interest therein.

Industry Context

This is a standard practice for compensating directors and aligning their interests with shareholders in the financial industry.

Comparison to Industry Standards

• Granting restricted stock units to directors is a common practice among publicly traded companies, including financial firms like Blackstone (BX) and Apollo Global Management (APO).
• The vesting period of approximately one year is also typical, aligning with standard compensation practices.
• The number of units granted is relatively small compared to the overall outstanding shares of KKR, suggesting a standard incentive package rather than a significant ownership change.

Stakeholder Impact

• The grant of restricted stock units aligns the director's interests with those of the shareholders, potentially increasing shareholder value.

Next Steps

• The restricted stock units will vest on December 1, 2025, and convert to common stock.

Key Dates

Keywords

KKR, restricted stock units, equity incentive plan, director, Robert W. Scully, beneficial ownership, stock grant, vesting