KKR & Co. Inc. 4

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.