KKR (NYSE: KKR) adds Henry Schein equity swap exposure on 918,723 shares
Rhea-AI Filing Summary
KKR-affiliated entities reported a new derivative position linked to Henry Schein Inc. common stock through an equity swap. On March 6, 2026, a total return swap was set to reference 918,723 notional shares of Henry Schein common stock at a notional price of $80.55 per share. The swap, entered into by KKR Hawaii Aggregator L.P. with a third-party counterparty, gives KKR Hawaii Aggregator L.P. the right to acquire, and obligates the counterparty to deliver, 918,723 shares upon settlement. Any such shares would be held directly by KKR Hawaii Aggregator L.P., and a series of KKR-related entities sits above it in the ownership chain. The reporting persons state that they disclaim beneficial ownership of the securities reported except to the extent of any pecuniary interest.
Positive
- None.
Negative
- None.
Insights
KKR reports a sizable equity swap on Henry Schein with no explicit buy or sell signal.
The filing shows a total return swap referencing 918,723 Henry Schein shares at a notional price of $80.55 per share, with KKR Hawaii Aggregator L.P. having the right to receive those shares from a third-party counterparty upon settlement.
This is coded as an “other” equity swap transaction, not an open-market trade, and is classified as a restructuring-type derivative event in the summary data. It reflects derivative exposure rather than a straightforward share purchase or sale, so the informational value for short-term sentiment is limited.
The reporting chain runs through multiple KKR entities, and the reporting persons expressly disclaim beneficial ownership beyond any pecuniary interest. Future company disclosures would be needed to see if and when the swap is settled into actual Henry Schein share ownership.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Equity Swap (obligation to purchase) | 918,723 | $0.00 | -- |
Footnotes (1)
- 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. 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. 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. 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.
FAQ
Who is the direct party to the Henry Schein equity swap reported by KKR?
Do KKR’s reporting persons claim beneficial ownership of the Henry Schein swap position?
How is the equity swap transaction on Henry Schein classified in the Form 4 data?
