Business is booming.

KKR co-chiefs could net $1bn each as part of stock incentive scheme

36


Joseph Bae and Scott Nuttall, the recently appointed co-chief executives of KKR, have been granted incentive stock awards that could be worth up to more than $1bn each if the private equity group’s stock continues to soar in the coming years.

Bae and Nuttall were granted 7.5m stock units as part of incentive awards that vest based on the performance of KKR’s equity. They will kick in at a price of $95.80 a share, or a 27 per cent gain from its closing price of $75.34 on Friday.

The awards, which require Bae and Nuttall to be employed by KKR up to the end of 2026, will vest in five increments in ranges from $95.80 to $135.80. They will be forfeited by either executive if they are terminated for cause, or if KKR’s stock fails to meet the price-vesting ranges by the end of 2028.

Assuming KKR shares hit the final price of $135.80 and trade for 20 days above that, the overall award could be worth more than $1bn each to Bae and Nuttall.

“These awards are intended to incentivise the co-chief executive officers to help drive stock price performance in a manner that is aligned with stockholder interests,” KKR said in a Friday evening filing made with the Securities and Exchange Commission.

“KKR currently intends that no additional equity incentive awards will be granted to Messrs Bae and Nuttall during the next five years,” the group added.

KKR’s shares have soared in recent years as assets pour into the private equity industry and buoyant markets help drive record profits. Its shares have gained 88 per cent this year and more than tripled since the beginning of 2019.

In October KKR co-founders Henry Kravis and George Roberts named Bae and Nuttall as co-chief executives, handing over the reins of the eponymous firm they founded in 1976. Both men were long seen as successors after being named co-presidents in 2017, assuming leadership of the private equity group’s daily operations.

In recent years Bae, 49, had overseen much of KKR’s global investment platform, including its private equity operations in the US and Asia-Pacific.

Nuttall, 49, led many of KKR’s big strategic initiatives, such as its 2010 listing on the New York Stock Exchange, its conversion from a partnership to a corporation in 2018, and the building of its more than $25bn balance sheet, which now represents a significant piece of more than $65bn market value.

They earned more than $35m in compensation last year, according to filings, and each own more than $1bn in KKR holdings from previous stock awards that have risen in value alongside the group’s soaring share price.

Bae holds a net worth of $1.2bn, according to the Forbes rich list, while Nuttall’s net worth is $1.4bn.

Due Diligence newsletter

Sign up here to receive Due Diligence, top stories from the world of corporate finance, sent straight to your inbox every Tuesday to Friday



Source link

36 Comments
  1. Rohxfj says

    order microzide 25mg generic – order prinivil online cost zebeta 10mg

  2. Fetgcy says

    buy generic lopressor – buy generic lopressor purchase adalat generic

  3. Uxuwve says

    buy generic nitroglycerin – order combipres without prescription buy valsartan 80mg online

  4. Fqfmqd says

    zocor lest – simvastatin general lipitor scrooge

  5. Prpdji says

    crestor glitter – caduet pills infinite caduet online price

  6. Dgrnkv says

    viagra professional lap – eriacta mistress levitra oral jelly myrtle

  7. Bsupec says

    dapoxetine cigar – sildigra shallow cialis with dapoxetine relative

  8. Eddlai says

    cenforce online rare – brand viagra respond

  9. Kdiexa says

    brand cialis future – viagra soft tabs lurk penisole pool

  10. Nfvlxp says

    cialis soft tabs online dusk – caverta pills sex viagra oral jelly gate

  11. Almfdz says

    brand cialis dick – tadora practical penisole clerk

  12. Evbrnz says

    cialis soft tabs tournament – viagra super active pills suspicion viagra oral jelly online east

  13. Xfouxs says

    cenforce online halt – levitra professional enormous brand viagra online compare

  14. Aemvdh says

    dapoxetine science – aurogra powder cialis with dapoxetine engage

  15. Zhvjsc says

    acne treatment yawn – acne medication gesture acne medication madam

  16. Ttwazh says

    asthma medication summon – asthma treatment manner asthma medication talk

  17. Gbgqxe says

    treatment for uti expedition – treatment for uti hasten treatment for uti morrow

  18. Vhxyvo says

    prostatitis pills class – pills for treat prostatitis brisk prostatitis medications ghoul

  19. Yfubrm says

    valacyclovir online woman – valacyclovir online bearer valtrex online insist

  20. Izvurv says

    loratadine velvet – claritin pills jacket loratadine medication pry

  21. Ocjloj says

    claritin furious – claritin pills view loratadine medication table

  22. Dhkoey says

    priligy float – dapoxetine hedge priligy moonlight

  23. Vidytp says

    promethazine knot – promethazine rusty promethazine follow

  24. Vbdmlh says

    ascorbic acid gloom – ascorbic acid yourself ascorbic acid asleep

  25. Tbosbh says

    clarithromycin pills flame – ranitidine suggestion cytotec pills burden

  26. Ckjryw says

    fludrocortisone maybe – prilosec dip prevacid forever

  27. Noypqp says

    dulcolax 5 mg drug – buy bisacodyl 5mg online liv52 10mg pill

  28. Qleaas says

    aciphex price – maxolon where to buy buy generic domperidone over the counter

  29. Vaobgf says

    buy bactrim 960mg generic – levetiracetam 500mg cost buy tobrex 10mg online cheap

  30. Niceli says

    zovirax order online – eukroma cream dydrogesterone 10 mg uk

  31. Htilyj says

    dapagliflozin canada – buy doxepin medication order precose online cheap

  32. Xnfpwv says

    order generic griseofulvin 250 mg – order generic fulvicin 250 mg gemfibrozil 300mg tablet

  33. Smaaam says

    how to get dramamine without a prescription – brand prasugrel 10mg pill actonel 35 mg

  34. Eeuxvx says

    enalapril 10mg uk – buy doxazosin without a prescription purchase latanoprost without prescription

  35. Krpfhh says

    buy monograph generic – cilostazol buy online order generic cilostazol

  36. Twvwcc says

    oral piroxicam 20mg – piroxicam 20 mg without prescription purchase exelon online

Leave A Reply

Your email address will not be published.