KKR Insider Filing: Nuttall Discloses Multiple Trust Stock Transfers

Rhea-AI Filing Summary

Scott C. Nuttall, Co-Chief Executive Officer and director of KKR & Co. Inc. (KKR), filed a Form 4 reporting multiple transactions dated 09/02/2025. The filing records transfers of KKR common stock previously held by grantor retained annuity trusts to a trust for the Reporting Person's family and other transfers between grantor retained annuity trusts that the filer states were exempt under Rule 16a-13. Following the reported transactions, the filing shows holdings or beneficial ownership amounts including 1,702,400, 1,135,870, 15,676,348, 1,497,723, 129,301, and 2,782 shares across direct and indirect forms. Several positions are held indirectly by trusts or by a limited partnership whose general partner is an LLC over which the Reporting Person has investment discretion. The filer disclaims beneficial ownership of indirectly held securities except to the extent of any pecuniary interest.

Positive

• Timely disclosure of insider transfers under Section 16 with a Form 4 filing dated 09/02/2025
• Clear explanations that certain transfers were between grantor retained annuity trusts and that some transfers were exempt under Rule 16a-13
• Detail on indirect holdings including trusts and a limited partnership, improving transparency about ownership structure

Negative

• Complex ownership structure (multiple trusts and a limited partnership) may make it difficult for investors to quickly ascertain the Reporting Person's net economic or voting interest
• Aggregate economic exposure is not consolidated in the filing text, requiring external aggregation to determine total beneficial ownership

Insights

Financial Analyst

TL;DR: Significant insider share transfers disclosed; transaction complexity may affect ownership reporting but no new compensation or options noted.

The Form 4 documents sizeable transfers of common stock by Scott C. Nuttall on 09/02/2025, primarily involving grantor retained annuity trusts and a family trust. The filing lists multiple large share amounts held indirectly and directly, totaling millions of shares across entries. The report identifies certain transfers as exempt under Rule 16a-13, which explains why some intra-trust movements are not reported as standard purchases or sales. From an analytical perspective, these are structural ownership changes rather than open-market trades or derivative exercises, so they do not directly indicate buying/selling pressure or compensation events. The disclosure improves transparency on insider holdings but requires careful aggregation to determine total economic exposure.

Corporate Governance Expert

TL;DR: The filing adheres to Section 16 reporting and clarifies indirect holdings; the disclaimer on beneficial ownership is standard and notable.

The Form 4 shows compliance with Section 16 timing for reporting transfers and includes a standard disclaimer under Rule 16a-1(a)(4) that the Reporting Person disclaims indirect beneficial ownership except for pecuniary interest. The use of grantor retained annuity trusts and transfers between trusts—some relying on Rule 16a-13 exemptions—are governance-relevant because they change recorded beneficial ownership without necessarily altering control. Additionally, holdings reported via a limited partnership with an LLC general partner indicate layered ownership structures common in fiduciary planning. The filing provides required transparency but underscores the need for investors to read footnotes and explanations to understand voting and economic rights.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

NUTTALL SCOTT C

(Last) (First) (Middle)

C/O KKR & CO. INC.

30 HUDSON YARDS

(Street)

NEW YORK NY 10001

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
KKR & Co. Inc. [ KKR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Co-Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/02/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/02/2025		G(1)		194,000	D	$0	1,702,400(2)	I	By Trusts
Common Stock	09/02/2025		G(1)		194,000	A	$0	1,135,870	I	By Trusts
Common Stock								15,676,348(2)	D
Common Stock								1,497,723	I	See Footnote(3)
Common Stock								129,301	I	By Trusts
Common Stock								2,782	I	By Limited Liability Company

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. . Reflects a transfer of common stock of KKR & Co. Inc. previously held by a grantor retained annuity trust established in 2023 to a trust for the benefit of the Reporting Person's family, which transfer was made on the date provided for under the terms of such grantor retained annuity trust.

2. Reflects certain transfers made between grantor retained annuity trusts and the reporting person. Such transfers were exempt from reporting pursuant to Rule 16a-13 of the Securities Exchange Act of 1934, as amended.

3. These securities are held by a limited partnership, whose general partner is a limited liability company over which the Reporting Person has investment discretion.

Remarks:

Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended, 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 owned, and the Reporting Person disclaims beneficial ownership of such securities except to the extent of the Reporting Person's pecuniary interest therein.

	/s/ Christopher Lee, Attorney-in-fact	09/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Scott C. Nuttall report on the Form 4 for KKR (KKR)?

The Form 4 dated 09/02/2025 reports transfers of KKR common stock involving grantor retained annuity trusts and a trust for the Reporting Person's family, with multiple holdings shown as direct and indirect.

How many KKR shares are reported after the transactions?

The filing lists several post-transaction beneficial ownership amounts including 1,702,400, 1,135,870, 15,676,348, 1,497,723, 129,301, and 2,782 shares across different entries.

Were any transactions described as exempt on the Form 4?

Yes. The filer states that certain transfers between grantor retained annuity trusts were exempt from reporting pursuant to Rule 16a-13 of the Securities Exchange Act.

Does the Form 4 indicate direct control of the reported shares?

Many holdings are reported as indirect (held by trusts or a limited partnership), and the Reporting Person disclaims beneficial ownership of indirectly owned securities except to the extent of pecuniary interest.

What role does Scott C. Nuttall hold at KKR as shown on the filing?

The filing identifies Scott C. Nuttall as a Director and Co-Chief Executive Officer of KKR & Co. Inc.