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$KKR·4

HENRY SCHEIN INC · Mar 10, 5:15 PM ET

KKR & Co. Inc. 4

4 · HENRY SCHEIN INC · Filed Mar 10, 2026

Research Summary

AI-generated summary of this filing

Updated

Henry Schein (HSIC) KKR Acquires 918,723 Shares via Swap

What Happened

  • KKR Group Partnership L.P. (a reported 10% owner) recorded an acquisition of derivative exposure to 918,723 shares of Henry Schein (HSIC) on 2026-03-06 via a total return swap (reported with transaction code J, "other acquisition or disposition"). The notional price per share was set at $80.55, giving a notional value of about $74.0 million (918,723 × $80.55). This filing reports a right to acquire/deliver shares under the Swap rather than an immediate purchase of exchange-traded shares.

Key Details

  • Transaction date: 2026-03-06; Form 4 filed: 2026-03-10 (filed within the two-business-day deadline for Form 4 reporting).
  • Instrument: Total return swap (entered Feb 26, 2026; initial hedge period completed Mar 6, 2026).
  • Notional shares: 918,723; Notional price: $80.55; Notional exposure ≈ $74,003,137.65.
  • Shares directly held after settlement: The Swap gives KKR Hawaii Aggregator L.P. the right to acquire and receive delivery of 918,723 shares; the filing does not report immediate direct ownership of ordinary shares.
  • Related-party structure: Footnotes detail a multi-entity KKR ownership chain (KKR Hawaii Aggregator L.P. → KKR North America funds → KKR Group Partnership L.P.). Reporting persons disclaim beneficial ownership except for pecuniary interest.
  • Filing note: Transaction reported as derivative (code J). The filing includes standard disclaimers and separate filings by certain affiliates due to EDGAR filing limits.

Context

  • This is an institutional derivative position by a 10% owner, not a typical insider buy/sell by an individual executive. A total return swap provides economic exposure and a contractual right to acquire shares on settlement but is not the same as an immediate open-market purchase of stock.
  • For retail investors: derivative acquisitions indicate an institutional exposure to the stock's performance but do not necessarily reflect direct share ownership until/if the swap is settled in stock.

Insider Transaction Report

Form 4
Period: 2026-03-06
HENRY SCHEIN INCHSIC
KKR Group Partnership L.P.
10% Owner
Transactions
  • OtherSwap

    Equity Swap (obligation to purchase)

    [F1][F2][F3][F4]
    2026-03-06+918,723→ 918,723 total(indirect: See Footnotes)
    From: 2026-03-09Exp: 2027-07-16→ Common Stock (918,723 underlying)
Footnotes (4)
  • [F1]On February 26, 2026, KKR Hawaii Aggregator L.P. entered into a total return swap (the "Swap") with a third-party financial counterparty. On March 6, 2026, the initial hedge period was completed, and the number of notional shares of Common Stock covered by the Swap was set at 918,723 shares of Common Stock and the notional price per share was determined to be $80.55.
  • [F2]Pursuant to the Swap, KKR Hawaii Aggregator L.P. has the right to acquire, and the counterparty has the obligation to deliver to KKR Hawaii Aggregator L.P., an aggregate of 918,723 shares of Common Stock. Upon such acquisition and settlement of shares of Common Stock, such shares of Common Stock would be directly held by KKR Hawaii Aggregator L.P. KKR Hawaii Aggregator GP LLC is the general partner of KKR Hawaii Aggregator L.P. KKR North America Fund XIII SCSp is the sole member of KKR Hawaii Aggregator GP LLC. KKR Associates North America XIII SCSp is the general partner of KKR North America Fund XIII SCSp. KKR North America XIII S.a r.l. is the general partner of KKR Associates North America XIII SCSp. KKR North America XIII Holdings Limited is the sole shareholder of KKR North America XIII S.a r.l.
  • [F3]KKR Group Partnership L.P. is the sole shareholder of KKR North America XIII Holdings Limited. KKR Group Holdings Corp. is the general partner of KKR Group Partnership L.P. KKR Group Co. Inc. is the sole shareholder of KKR Group Holdings Corp. KKR & Co. Inc. is the sole shareholder of KKR Group Co. Inc. KKR Management LLP is the Series I preferred stockholder of KKR & Co. Inc. Messrs. Henry R. Kravis and George R. Roberts are the founding partners of KKR Management LLP.
  • [F4]Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest therein. The filing of this statement shall not be deemed to be an admission that, for purposes of Section 16 of the Securities Exchange Act of 1934 or otherwise, the Reporting Persons are the beneficial owners of any securities reported herein.
Signature
See Exhibit 99.1|2026-03-10

Documents

2 files