Business Context and Reporting Period
This Form 8-K Current Report was filed by KKR & Co. Inc. on October 6, 2021. The filing primarily addresses corporate governance changes, specifically the appointment of a new director and an increase in the size of the Board of Directors.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity metrics. This report focuses on personnel and governance rather than financial performance.
Material Changes
- Board Expansion: The number of directors constituting the entire Board was increased to fifteen.
- New Director Appointment: Evan Spiegel was appointed to the Board of Directors.
- Compensation Arrangement: Mr. Spiegel will receive a customary cash retainer of $90,000 and is eligible for annual equity awards consistent with other non-executive directors.
Guidance, Outlook, and Risks
The filing contains no management commentary regarding financial guidance, outlook, risks, contingencies, or unusual items. The document strictly reports the procedural approval of the director appointment via written consent of the sole holder of Series I preferred stock.
Investor Verification Checklist
- Verify the effective date of Evan Spiegel's appointment to the Board.
- Confirm the total number of directors on the Board is now fifteen.
- Review the attached press release (Exhibit 99.1) for additional context on the appointment.
- Note that the press release is furnished and not deemed "filed" for purposes of Section 18 of the Exchange Act.